Click for new scientific resources and news about Corona[COVID-19]

Paper Information

Journal:   JOURNAL OF SCIENCE AND TECHNOLOGY POLICY   SUMMER 2008 , Volume 1 , Number 2; Page(s) 87 To 101.
 
Paper: 

EXPLAINING THE 2008 FINANCIAL CRISIS AS AN ENTRANCE OF PARADIGM SHIFT IN IT REVOLUTION

 
 
Author(s):  MIREMADI T.*
 
* 
 
Abstract: 

This paper attempts to determine the reasons and consequences of the 2008 Financial Crisis in the light of Schumpeter-Freeman-Perez Theory. It posits that this crisis is a sign of the resurfacing of the symptoms of the recession occurred in the aftermath of the so- called Dot Com bubble burst, which was postponed by liberalized credit policies. Considering the damage it has already done to the confidence in the economic rationale of incumbent policies, the paper argues that it is a strong sign for a stylized transition from the installation period to the diffusion period in long wave of the technological revolution of information and communication and the consequent shift in the techno-economic paradigm. The paper finally focuses on the technological evolutions in the developing counties and concludes that the wrong policies to deal with economic crisis in the center and appropriate measures and policies undertaken by some of late comer countries in the periphery could prolong abnormally the windows of opportunities to catch up with the industrial world. This analysis shows that how the theory of technological successive revolutions and techno-economic theoretical framework could help the technological policy making.

 
Keyword(s): TECHNO-ECONOMIC PARADIGM, CONSECUTIVE TECHNOLOGICAL REVOLUTIONS, LONG WAVES OF TECHNOLOGY, WINDOWS OF OPPORTUNITY, FINANCIAL CAPITAL, ECONOMIC BUBBLES
 
References: 
  • ندارد
 
  Persian Abstract Yearly Visit 62
 
Latest on Blog
Enter SID Blog