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date: 18 January 2021

Abstract and Keywords

This chapter examines literature on catch-up industrialization in the context of the experience of the Asian Pacific economies. It provides a summary of the “flying geese” or product cycle model of waves of industrialization and discusses three aspects of catch-up industrialization: shifting manufacturing from consumer to capital goods, increasing sophistication of production, and economy-level development . It discusses a possible new version of the flying geese model and highlights the increased importance of activity-level economies of scale as a result of the disaggregation of production into more specialized and geographically dispersed stages.

Keywords: catch-up industrialization, Asian Pacific economies, flying geese model, economies of scale, disaggregation of production, product cycle model

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