IDEAS home Printed from https://ideas.repec.org/a/spr/revepe/v1y2020i1d10.1007_s43253-020-00010-7.html
   My bibliography  Save this article

Institutional variety and the future of economics

Author

Listed:
  • Smita Srinivas

    (Open University
    National Centre for Biological Sciences (NCBS))

Abstract

Economics depends heavily on assumptions made about the phenomenon of institutional variety and its implications for technological capabilities in economic development. This article contributes to new ways of thinking of institutional variety in order to advance scientific argument within the broad tradition of evolutionary political economy (EPE). First, it draws on the Nyāya (Hindu) systems of logic and reasoning about inference and judgement which can potentially reveal inter-and intra-paradigmatic differences for EPE and economics. Second, it uses four brief illustrative cases from the author’s development research on technological learning and innovation to argue for more explicit and systematic treatment of inference and judgement about institutional variety. Implications for the future of economics are briefly discussed.

Suggested Citation

  • Smita Srinivas, 2020. "Institutional variety and the future of economics," Review of Evolutionary Political Economy, Springer, vol. 1(1), pages 13-35, May.
    • Handle: RePEc:spr:revepe:v:1:y:2020:i:1:d:10.1007_s43253-020-00010-7
    DOI: 10.1007/s43253-020-00010-7
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s43253-020-00010-7
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s43253-020-00010-7?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Edward Lorenz & Erika Kraemer-Mbula, & Lotta Takala-Greenish & Oluseye Jegede & Tukur Garba & Musambya Mutambala & Timothy Esemu, 2019. "Are African micro and small enterprises misunderstood? Unpacking the relationship between work organisation, capability development and innovation," Post-Print hal-01940597, HAL.
    2. Theo Papaioannou & Smita Srinivas, 2019. "Innovation as a political process of development: are neo-Schumpeterians value neutral?," Innovation and Development, Taylor & Francis Journals, vol. 9(1), pages 141-158, January.
    3. Edward Lorenz & Erika Kraemer-Mbula, & Lotta Takala-Greenish & Oluseye Jegede & Turkur Garba & Musambya Mutambala, 2019. "Are African micro- and small enterprises misunderstood? Unpacking the relationship between work organisation, capability development and innovation," Post-Print hal-02396448, HAL.
    4. Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, vol. 46(2), pages 385-406, June.
    5. Robert, Verónica & Yoguel, Gabriel, 2016. "Complexity paths in neo-Schumpeterian evolutionary economics, structural change and development policies," Structural Change and Economic Dynamics, Elsevier, vol. 38(C), pages 3-14.
    6. David Dequech, 2007. "Neoclassical, mainstream, orthodox, and heterodox economics," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(2), pages 279-302.
    7. Rodrigo Arocena & Judith Sutz, 2000. "Looking At National Systems Of Innovation From The South," Industry and Innovation, Taylor & Francis Journals, vol. 7(1), pages 55-75.
    8. Verónica Robert & Gabriel Yoguel & Octavio Lerena, 2017. "The ontology of complexity and the neo-Schumpeterian evolutionary theory of economic change," Journal of Evolutionary Economics, Springer, vol. 27(4), pages 761-793, September.
    9. Frederic S. Lee, 2012. "Heterodox Economics and its Critics," Review of Political Economy, Taylor & Francis Journals, vol. 24(2), pages 337-351, April.
    10. Gerald Silverberg & Giovanni Dosi & Luigi Orsenigo, 2000. "Innovation, Diversity and Diffusion: A Self-Organisation Model," Chapters, in: Innovation, Organization and Economic Dynamics, chapter 14, pages 410-432, Edward Elgar Publishing.
    11. Markus Grillitsch & Bjørn T. Asheim, 2017. "Cluster policy: Renewal through the integration of institutional variety," Chapters, in: Dirk Fornahl & Robert Hassink (ed.), The Life Cycle of Clusters, chapter 4, pages 76-94, Edward Elgar Publishing.
    12. Sheila Dow, 2009. "History of Thought and Methodology in Pluralist Economics Education," International Review of Economic Education, Economics Network, University of Bristol, vol. 8(2), pages 41-57.
    13. Philippe Méhaut & Peter Berg & Damian Grimshaw & Karen Jaehrling & Marc van Der Meer & Jacob Eskildsen, 2010. "Cleaning and nursing in hospitals : institutional variety and the reshaping of low-wage jobs," Post-Print halshs-00478623, HAL.
    14. Srinivas, Smita & Sutz, Judith, 2008. "Developing countries and innovation: Searching for a new analytical approach," Technology in Society, Elsevier, vol. 30(2), pages 129-140.
    15. McCloskey, Donald N, 1983. "The Rhetoric of Economics," Journal of Economic Literature, American Economic Association, vol. 21(2), pages 481-517, June.
    16. Rajah Rasiah & Fukunari Kimura & Sothea Oum, 2016. "Host-site institutions, production networks and technological capabilities," Asia Pacific Business Review, Taylor & Francis Journals, vol. 22(1), pages 3-20, January.
    17. J. Stan Metcalfe, 2010. "Technology and economic theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 34(1), pages 153-171, January.
    18. Jörg Baumberger, 1977. "No Kuhnian Revolutions in Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 11(1), pages 1-20, March.
    19. Luigi Pasinetti, 1993. "Technical Progress And Structural Change," Economic Papers, The Economic Society of Australia, vol. 12(3), pages 1-10, September.
    20. Romer, Paul M, 1987. "Growth Based on Increasing Returns Due to Specialization," American Economic Review, American Economic Association, vol. 77(2), pages 56-62, May.
    21. Maloney, William F., 2004. "Informality Revisited," World Development, Elsevier, vol. 32(7), pages 1159-1178, July.
    22. Nelson, Richard R & Winter, Sidney G, 1974. "Neoclassical vs. Evolutionary Theories of Economic Growth: Critique and Prospectus," Economic Journal, Royal Economic Society, vol. 84(336), pages 886-905, December.
    23. Joanna Chataway & Rebecca Hanlin & Raphael Kaplinsky, 2014. "Inclusive innovation: an architecture for policy development," Innovation and Development, Taylor & Francis Journals, vol. 4(1), pages 33-54, April.
    24. Kaplinsky, Raphael, 2011. "Schumacher meets Schumpeter: Appropriate technology below the radar," Research Policy, Elsevier, vol. 40(2), pages 193-203, March.
    25. Pier P. Saviotti, 1996. "Technological Evolution, Variety and the Economy," Books, Edward Elgar Publishing, number 727.
    26. Erika Kraemer-Mbula & Edward Lorenz & Lotta Takala-Greenish & Oluseye Oladayo Jegede & Tukur Garba & Musambya Mutambala & Timothy Esemu, 2019. "Are African micro- and small enterprises misunderstood? Unpacking the relationship between work organisation, capability development and innovation," International Journal of Technological Learning, Innovation and Development, Inderscience Enterprises Ltd, vol. 11(1), pages 1-30.
    27. Hervé Dumez & Alain Jeunemaitre, 2006. "Reviving narratives in economics and management : towards an integrated perspective of modelling, statistical inference and narratives," Post-Print hal-00263041, HAL.
    28. Amable, Bruno, 2000. "International specialisation and growth," Structural Change and Economic Dynamics, Elsevier, vol. 11(4), pages 413-431, December.
    29. Paul Dewick & Ivan Hernandez, 2014. "Entrepreneurship, institutional variety and economic development," Innovation and Development, Taylor & Francis Journals, vol. 4(1), pages 111-127, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Smita Srinivas, 2023. "India and ‘European’ evolutionary political economy," Review of Evolutionary Political Economy, Springer, vol. 4(2), pages 415-443, July.
    2. Chakravarty, Sanghamitra, 2022. "Resource constrained innovation in a technology intensive sector: Frugal medical devices from manufacturing firms in South Africa," Technovation, Elsevier, vol. 112(C).
    3. Ioanna Kastelli & Lukasz Mamica & Keun Lee, 2023. "New perspectives and issues in industrial policy for sustainable development: from developmental and entrepreneurial to environmental state," Review of Evolutionary Political Economy, Springer, vol. 4(1), pages 1-25, April.
    4. Verónica Robert & Gabriel Yoguel, 2022. "Exploration of trending concepts in innovation policy," Review of Evolutionary Political Economy, Springer, vol. 3(2), pages 259-292, July.
    5. Smita Srinivas, 2023. "When is industry ‘sustainable’? The economics of institutional variety in a pandemic," Review of Evolutionary Political Economy, Springer, vol. 4(1), pages 75-107, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chakravarty, Sanghamitra, 2022. "Resource constrained innovation in a technology intensive sector: Frugal medical devices from manufacturing firms in South Africa," Technovation, Elsevier, vol. 112(C).
    2. Smita Srinivas, 2023. "When is industry ‘sustainable’? The economics of institutional variety in a pandemic," Review of Evolutionary Political Economy, Springer, vol. 4(1), pages 75-107, April.
    3. Mario Pansera & Fabien Martinez, 2017. "Innovation for development and poverty reduction: an integrative literature review," Post-Print hal-02887777, HAL.
    4. Sanghamitra Chakravarty & Georgina Mercedes Gómez, 2024. "A Development Lens to Frugal Innovation: Bringing Back Production and Technological Capabilities into the Discourse," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 36(1), pages 82-101, February.
    5. Abdin, Joynal & Sharma, Abhijit & Trivedi, Rohit & Wang, Chengang, 2024. "Financing constraints, intellectual property rights protection and incremental innovation: Evidence from transition economy firms," Technological Forecasting and Social Change, Elsevier, vol. 198(C).
    6. Vaitsos, Constantine V., 2003. "Growth Theories Revisited: Enduring Questions with Changing Answers," UNU-INTECH Discussion Paper Series 2003-09, United Nations University - INTECH.
    7. Uwe Cantner, 2017. "Foundations of Economic Change: An Extended Schumpeterian Approach," Economic Complexity and Evolution, in: Andreas Pyka & Uwe Cantner (ed.), Foundations of Economic Change, pages 9-49, Springer.
    8. Silva, Ester G. & Teixeira, Aurora A.C., 2008. "Surveying structural change: Seminal contributions and a bibliometric account," Structural Change and Economic Dynamics, Elsevier, vol. 19(4), pages 273-300, December.
    9. Kaplinsky, Raphael & Kraemer-Mbula, Erika, 2022. "Innovation and uneven development: The challenge for low- and middle-income economies," Research Policy, Elsevier, vol. 51(2).
    10. Pansera, Mario & Owen, Richard, 2015. "Framing resource-constrained innovation at the ‘bottom of the pyramid’: Insights from an ethnographic case study in rural Bangladesh," Technological Forecasting and Social Change, Elsevier, vol. 92(C), pages 300-311.
    11. Petersen, Il-haam & Kruss, Glenda, 2021. "Universities as change agents in resource-poor local settings: An empirically grounded typology of engagement models," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    12. Elvis Korku Avenyo & Fiona Tregenna & Erika Kraemer-Mbula, 2021. "Do Productive Capabilities Affect Export Performance? Evidence from African Firms," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 33(2), pages 304-329, April.
    13. Gaglio, Cyrielle & Kraemer-Mbula, Erika & Lorenz, Edward, 2022. "The effects of digital transformation on innovation and productivity: Firm-level evidence of South African manufacturing micro and small enterprises," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    14. Smita Srinivas, 2023. "India and ‘European’ evolutionary political economy," Review of Evolutionary Political Economy, Springer, vol. 4(2), pages 415-443, July.
    15. Plantinga, Paul, 2021. "Innovation and the Public Service: Facilitating Inclusive Industrial and Social Development," SocArXiv qcdjg, Center for Open Science.
    16. Dirk Dohse & Sophia Fehrenbacher & Philipp von Carlowitz, 2022. "Potenziale entwickeln und Wissen teilen: deutsche Unternehmen in Afrika [Developing Potential and Sharing Knowledge: How German Companies Can Gain a Foothold in Africa]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 102(7), pages 563-567, July.
    17. Jan Fagerberg & Erika Kraemer-Mbula & Edward Lorenz, 2021. "An Evolutionary Analysis of Transformative Change in LDCs: the cases of Kenya and Rwanda," Working Papers on Innovation Studies 20210623, Centre for Technology, Innovation and Culture, University of Oslo.
    18. Mario Pansera & Soumodip Sarkar, 2016. "Crafting Sustainable Development Solutions: Frugal Innovations of Grassroots Entrepreneurs," Sustainability, MDPI, vol. 8(1), pages 1-25, January.
    19. Giovanni Dosi & Andrea Roventini & Emmanuele Russo, 2020. "Public Policies And The Art Of Catching Up," Working Papers hal-03242369, HAL.
    20. Cusmano, Lucia & Morrison, Andrea & Rabellotti, Roberta, 2010. "Catching up Trajectories in the Wine Sector: A Comparative Study of Chile, Italy, and South Africa," World Development, Elsevier, vol. 38(11), pages 1588-1602, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:revepe:v:1:y:2020:i:1:d:10.1007_s43253-020-00010-7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.