Co-emergence of Institutional Innovation Navigates the New Normal in Growing Economies

Abstract

Increasing fear of the global simultaneous stagnation derived from the Euro-crisis together with the New Normal in growing economies reveals the limit of individual strength leading to the significance of fusion with global best practices. Dramatic advancement of the Internet has enabled consumers in any nation to choose and learn from world’s strongest suppliers. Both trends inevitably necessitate co-emergence of institutional innovation between suppliers and consumers for sustainability. On the basis of an empirical analysis comparing institutional systems in 100 nations, this paper demonstrates the significance of this co-emergence thereby navigating the New Normal in growing economies.

  • Page Number : 69-81

  • Keywords
    Co-emergence, institutional innovation, bi-polarization, new normal

  • DOI Number
    https://doi.org/10.15415/jtmge.2013.41003

  • Authors

    • Weilin ZhaoFujitsu Research Institute, Japan
    • Chihiro WatanabeTokyo Seitoku University, Japan
    • Yuji TouTokyo Institute of Technology, Japan

References

  • Chen, C and Watanabe, C. (2007) ‘Competitiveness through Co-evolution between Innovation and Institutional Systems: New Dimensions of Competitiveness in a Service-oriented Economy’, Journal of Services Research, 7:2, pp. 27-55.
  • Chew, M, Watanabe, C. and Tou, Y. (2010) ‘Technology Leapfrogging Findings from Singapore’s Water Industry’, Journal of Technology Management for Growing Economies, 1:2,pp. 29-47.
  • Fukuda, K, Zhao, W. and Watanabe, C. (2011) ‘Dual Hybrid Management of Technology: Coevolution with Growing Economies’, Journal of Technology Management for Growing Economies, 2:1, pp. 9-26.
  • (2012) ‘World Economic Outlook Database’, IMF, Washington DC.
  • Japan’s Cabinet Office (JCO). (2005) ‘Public Opinion Survey Concerning People’s Lifestyles’,JCO. Tokyo.
  • Kondo, R., Watanabe, C. and Moriyama, K. (2007) ‘A Resonant Development Trajectory for IT Development: Lessons from Japan’s i-mode’, International Journal of Advances in Management Research, 4:2, pp. 7-27. http://dx.doi.org/10.1108/97279810780001255.
  • McDonagh, D. (2008) ‘Satisfying Needs beyond the Functional: The Changing Needs of the Silver Market Consumer’, Proceedings of the International Symposium on the Silver Market Phenomenon, Tokyo.
  • Ministries of Internal Affairs and Communication (MIC). (2012) ‘White Paper on Japan’s Information and Communication Technology’, MIC, Tokyo.
  • Prahalad, C.K. (2004) ‘The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits’, Wharton School Publishing, New Jersey.
  • Shinozaki, A. (2012) ‘Advancement of IT Overthrows Poverty Trap’, Nihon KeizaiShinbun (Nikkei Daily news), Nov. 1, pp. 28.
  • Tokumasu, S. and Watanabe, C. (2008) ‘Institutional Structure Leading to the Similarity and Disparity in Innovation in EU 15 Countries’, Journal of Services Research, 8:1, pp. 5-42.
  • Watanabe, C., Asgari, B. and Nagamatsu, A. (2003) ‘Virtuous Cycle between R&D Functionality Development and Assimilation Capacity for Competitive Strategy in Japan’s High-technology Industry’, Technovation, 23:11, pp.879-900. http://dx.doi.org/10.1016/S0166-4972(02)00041-X.
  • Watanabe, C., Takahashi, H., Tou, Y. and Shum, K.L. (2006) ‘Inter-fields Technology Spillovers Leveraging Co-evolution between Core Technologies and their Application to New Fields’, Journal of Services Research, 6:2, pp. 7-24.
  • Watanabe, C. (2009) ‘Managing Innovation in Japan: The Role Institutions Play in Helping or Hindering How Companies Develop Technology’, Springer, Berlin. http://dx.doi.org/10.1007/978-3-540-89272-4
  • Watanabe, C., Moriyama, K. and Shin, J.H. (2009) ‘Functionality Development Dynamism in a Diffusion of Technology: A Case of Japan’s Mobile Phones Development’, Technological Forecasting and Social Change, 76:6, pp. 737-753. http://dx.doi.org/10.1016/j.techfore.2008.06.001.
  • Watanabe, C. and Shin, J.H. (2009) ‘Co-evolutionary Dynamism between Innovation and Institutional Systems: The Rise and Fall of the Japanese System of Management of Technology’, in C. Watanabe (ed.), The Science of Institutional Management of Technology, Tokyo Institute of Technology, pp. 21-34.
  • Watanabe, C., Shin, J.H., Heikkinen, J., Zhao, W. and Griffy-Brown, C. (2011) ‘New Functionality Development through Follower Substitution for a Leader in Open Innovation’, Technological Forecasting and Social Change, 78:1, pp. 116-131. http://dx.doi.org/10.1016/j.techfore.2010.04.019.
  • Watanabe, C., Kanno, G. and You, Y. (2012a) ‘Inside the Learning Dynamism Inducing the Resonance between Innovation and High-demand Consumption: A Case of Japan’s High-functional Mobile Phones’, Technological Forecasting and Social Change, 79: 7, pp. 1292-1311. http://dx.doi.org/10.1016/j.techfore.2012.03.003
  • Watanabe, C., Zhao, W. and Nasuno, M. (2012b) ‘Resonance between Innovation and Consumers: Suggestion to Emerging Market Consumers’, Journal of Technology Management for Growing Economies, 3:1, pp. 7-31.
  • World Bank. (2012) ‘World Bank Indicators’, World Bank, Washington DC.
  • World Economic Forum (WEF). (2012) ‘The Global Information Technology Report 2012’, WEF. Geneva.

  • Published Date : --