Developmental States Analysis
Developmental states refer to states that exhibit a period of economic development which also includes improvement of living standards of its people. A developmental state has independent political power as well as more control over its economy. This definition of a developmental state keeps a notion that all the wealth of a state originates from within the state. This is not the case always as most states import their products. This suggests that developmental states should be defined by any other factor, but not the resources they perceivably control. Given that our world is enlightened, it would be misperception to presume the developmental nature of a state depends on its economic stronghold. A question should, therefore, arise that, is there another model for the definition of developmental states?
If the economic prowess of states were to be used in defining a developmental state, we would be witnessing such states as Nigeria or Libya as among the developmental states due to their wealth in oil. Preferably it is not just the way a country owns an economic base that would define her developmental capability, but the way such countries harness their resources. We remain to ask ourselves why some states are more effective in managing the demands of their economies than others. The question of whether developmental states should be considered as doomed in light of the present knowledge-intensive development is significant because it makes economists delve on how state agencies and national businesses inter-relate in the economic world (Kim 2012, p. 141). The knowledge that people have acquired in the line of economics have made states so interdependent that they turned to international markets for new opportunities in capital and production and then dis-embedded themselves from national institutions.
One of the key issues concerning developmental states is that developmental work states such as Ireland become more effective in information economy because of their involvement in local embeddedness. Such embeddedness brings more usefulness when it comes to mediation between widely dispersed business networks. A developmental network state is never affected by bureaucratic state, but rather by a state of over-embeddedness. The other issue on developmental states is the impact of biotechnology on developmental states. The emergence of Korea, Taiwan, and Singapore as leading biotech states has raised eyebrows on how science industries can affect the economic dealings of a country despite lack of usual resources. These countries identified a gap in the knowledge economy and fully exploited it (Wong 2011, p.2). These states invested heavily in the biotech industry but have not fully realized the benefits of their efforts. It comes to a question as to whether the biotechnological industry can be regarded as an appropriate investment venue in the present world. The main reason why technological industries may not prosper as other industries is that there exist innovations almost daily most of which outdo the erstwhile innovations. It would require states to look for worthy innovators if they are to compete with the changing technological world. otherwise they would remain irrelevant in the developmental aspect.