Co-Evolution of Innovation Policy and Industrial Structure in Sweden Term Paper

Co-Evolution of Innovation Policy and Industrial Structure in Sweden - consideration Paper ExampleAs interaction in the society gives rise to the ontogenesis of institutions, manifold dogmatic behaviors ushers in those institutions which come in practice and thus decease stereotyped norms of those institutions followed through time. So institutions become dire indicators of several outcomes of the many domains of the society. It is a general popular opinion that the key indicators that mastermote economic development are the levels of investment, education, culture, governmental policies, income etc. But if rather viewing in a more enlarged way, the social scientists of the modern world have claimed that it is the primary role of social institutions whereby the lieu of interaction among independent agents play a dominant role in accumulating valuable resources and fetching profits for the society. This notion of the institution acting as the primordial driving force of economi c development is resonated in diametric arrangements of the society like property rights, microfinance, business associations, the advice of developmental agencies in proposing minimal state intervention implying pro market paradigm etc. Institutional variations are a huge domain of study and counselling in the modern industrialized world as it has been the real fact that the so-called differences between real and developing nations have emerged. Many countries have emerged as superpowers and many countries are still stuck in a vicious circle of poverty and the main reason for this can be attributed to the diverse institutional understructure policies adopted and successfully implemented in the former case and lack of implementation of institutional origination policies in the latter case. However, there are many instances of developing countries coming from the periphery and emerging as a nucleus of growth potential.