Compressed Development: Time and Timing in Economic and Social Development

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The seminar draws on a recent co-authored book Compressed Development: Time and Timing in Social and Economic Development (Oxford University Press, October 2020). Updating and modifying the ‘late development’ thesis, and incorporating institutional perspectives, it proposes a framework for comparing development across time and place and highlights compression and discontinuities in recent high-growth Asian countries. Compressed development is characterised by two dynamics: ‘time compression,’ referring to the secular tendency for more recent developers to progress faster than earlier developers; and ‘eras,’ referring to the more or less distinct historical periods in which development takes place, with the geopolitical, institutional, and technological characteristics of each era putting a stamp on the processes of development. The most recent, “compressed development” era (1990-2020) saw retreats by the state and civil society, financialization, computerization, and global value chains and the ‘network’ form of industrial organization (outsourcing and offshoring). With this loosely Polanyian perspective as a base condition, the authors consider some scenarios for post-Covid institutional, organizational, and geographic shifts.

D. Hugh Whittaker is Professor in the Economy and Business of Japan, and Fellow of St Antony's College, University of Oxford. His research encompasses Japanese and comparative employment, innovation and technology management, small firms and entrepreneurship, and development.

Timothy Sturgeon is Senior Researcher at the Industrial Performance Center, MIT. His research explores how evolving technologies and business models are altering linkages between industrialized and developing economies, with an emphasis on offshoring and outsourcing practices in the electronics, automotive, and services industries.
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