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Betting on BiotechInnovation and the Limits of Asia's Developmental State$
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Joseph Wong

Print publication date: 2011

Print ISBN-13: 9780801450327

Published to Cornell Scholarship Online: August 2016

DOI: 10.7591/cornell/9780801450327.001.0001

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Betting on Biotech

(p.1) Introduction
Betting on Biotech

Joseph Wong

Cornell University Press

This book examines how decision makers in industrial Asia make political economic bets, and specifically how they have strategically rationalized their various high-stakes bets in biotech commercialization. It considers how public and private stakeholders in Korea, Taiwan, and Singapore have organized their biotechnology sectors over the past twenty years; what resource allocation decisions have been made in this multibillion-dollar endeavor; and what institutions have been constructed to facilitate innovation in the life sciences. It also analyzes the extent to which the challenges at the cutting edge of the global knowledge economy have transformed the postwar Asian developmental state. It argues that the developmental state model of the postwar period is no longer viable in an era of science-based industries and that betting on biotech requires a new kind of decision making, one that is different politically and economically from that of the earlier era of state-led industrialization.

Keywords:   biotech commercialization, Korea, Taiwan, Singapore, resource allocation, life sciences, knowledge economy, developmental state, industrialization, biotechnology

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