Rethinking asset modification in regional industrial path development: toward a conceptual framework

ABSTRACT

Asset modification is a key concept in the regional industrial path development literature. Extant research mainly focuses on the process of redeploying pre-existing assets and creating new assets, while little attention has been paid to asset reconfiguration. This article establishes a holistic conceptual framework that describes regional industrial path development as one in which regional actors (1) draw on their pre-existing assets and/or create new assets to prepare assets needed for the new industry; and (2) reconfigure these assets into a configuration that gives birth to the new industry. Finally, a typology linking this understanding to differentiated path development is proposed.

KEYWORDS:

• regional industrial path development
• asset modification
• asset reconfiguration
• technology
• institution

JEL:

• R11
• R58

ACKNOWLEDGEMENT

The author thanks the editor and three anonymous referees for giving useful comments on an earlier version of this paper. The usual disclaimer applies.

DISCLOSURE STATEMENT

No potential conflict of interest was reported by the author.

Additional information

Funding

This work was supported by the China Scholarship Council.