Overview

"This topical book interprets firms, governments and economic change from an entrepreneurial perspective. Essentially, is applies the Austrian theory of human agency and evolutionary theories of the firm to explain economic organization, the state and institutional change. Tony Yu begins by discussing the nature of entrepreneurship and the firm followed by an analysis of the role of entrepreneurship in economic change. He thoroughly analyzes the process of economic development in late industrializers, within an entrepreneurial framework outlined within the book. The author argues that ordinary and extraordinary discovery are associated with routine or imitative entrepreneurship and Schumpterian entrepreneurship respectively. Using this classification, the author shows how it is the interaction of various types of entrepreneurial activities that transformed East Asian latecomers such as Japan, Taiwan, South Korea, Singapore and Hong Kong from traditional agrarian and fishing economies into international centres of trading, service industries and finance. ""Firms, Governments and Economic Change"" should be of interest to scholars of industrial economics, entrepreneurship and Asian studies. It should also be of use to governmental organizations responsible for economic development, as the analysis is thoroughly up to date and easy to understand."

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9781840643657

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Reviews

'This very clearly written book is written foremost for an academic and postgraduate audience, although undergraduate students would be likely to find much of the book readable, particularly the empirical observations and chapters.' -- Caroline Elliott, Business History 'This is an entrepreneurial book, not just a book about entrepreneurship. As chapter 1 points out, entrepreneurship involves seeing the world in a new way, a way that is slightly different to how other people see it. And that is what Tony Yu does in this book. He sees the theory of the firm - and of business institutions more generally - in a new and potentially revealing light.' -- From the preface by Richard N. Langlois

`This very clearly written book is written foremost for an academic and postgraduate audience, although undergraduate students would be likely to find much of the book readable, particularly the empirical observations and chapters.' -- Caroline Elliott, Business History `This is an entrepreneurial book, not just a book about entrepreneurship. As chapter 1 points out, entrepreneurship involves seeing the world in a new way, a way that is slightly different to how other people see it. And that is what Tony Yu does in this book. He sees the theory of the firm - and of business institutions more generally - in a new and potentially revealing light.' -- From the preface by Richard N. Langlois

Author Information

Fu-Lai Tony Yu, Professor and Head, Department of Economics and Finance, Hong Kong Shue Yan University, Hong Kong

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