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Economic development as self-discovery
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“This suggests that in economies where firms face substantial entry barriers, the underinvestment problem noted by Hausmann and Rodrik (2003) is not likely to be serious.”
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“The second market failure identified by Hausmann and Rodrik (2003) is that the market equilibrium yields too little specialization-all activities that turn out to be profitable are sustained whereas optimality requires that only the one activity with the highest return be pursued.”
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Metadata
- Authors
- Hausmann, R., & Rodrik, D.
- Affiliations
- Harvard University (US)
- Corresponding author
- Rodrik, Dani
- Venue
- Journal of Development Economics
- Publisher
- Elsevier BV
- Published
- 2003-12
- Volume
- 72
- Issue
- 2
- Pages
- 603-633
- ISSN
- 0304-3878 (ISSN-L)
- OpenAlex
- W2120106358
- Cited by
- 1,840
- References
- 51
- Citations by year
- 2026: 74 · 2025: 72 · 2024: 77 · 2023: 71 · 2022: 82 · 2021: 89 · 2020: 112 · 2019: 96 · 2018: 90 · 2017: 102 · 2016: 113 · 2015: 105 · 2014: 82 · 2013: 97 · 2012: 94
- FWCI
- 73.51
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Development Economics (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Global trade and economics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic and Technological Innovation
- Keywords
- economic development, self-discovery, imitation, production costs, entrepreneurship, production diversification, production rationalization, optimal policy, small open economy, general equilibrium
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