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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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Conclusion

Conclusion

Beyond the Developmental State

Chapter:
(p.165) Conclusion
Source:
Betting on Biotech
Author(s):

Joseph Wong

Publisher:
Cornell University Press
DOI:10.7591/cornell/9780801450327.003.0007

This book has highlighted the uncertainties of biotech innovation and the commercialization of cutting-edge life sciences technologies. Drawing on the experiences of Korea, Taiwan, and Singapore, it has shown that betting in biotechnology, despite being strategically rationalized, can prove very costly. In this respect, this book is about the processes of major political economic change and adaptation to a new paradigm of science-based industrial upgrading. It has addressed some sense of the “institutional origins” of industrial technology development systems, the choices made, and their political economic rationales, as well as the adaptive political economic imperatives of the current knowledge-intensive “third industrial revolution.” Betting on biotech in Korea, Taiwan, and Singapore has proceeded in the absence of—rather than according to—some coherent strategic plan, which runs counter to the ideals of a postwar developmental state. The book has also identified some important distinctions among the Korean, Taiwanese, and Singaporean approaches to biotech development.

Keywords:   biotech innovation, life sciences, Korea, Taiwan, Singapore, biotechnology, industrial upgrading, third industrial revolution, developmental state, biotech development

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