“Changing Dynamics of Lead Markets: A New Role for Emerging Economies as Innovation Hubs”

An article by Rajnish Tiwari and Cornelius Herstatt, published in The European Financial Review, issue April/May 2014, pp. 69-72.

Lead markets play a crucial role in the global diffusion of innovations. Innovative firms actively seek access to such markets whilst policy makers, especially in Europe, have attempted to foster lead markets by concerted policy measures. Below, Rajnish Tiwari and Cornelius Herstatt suggest that the conventional wisdom on the emergence and functioning of lead markets needs a rethink to better reflect the changing dynamics in the global economy, and argue that dynamic economic growth in largely unsaturated markets and increasing technological capabilities are letting new lead markets emerge in the developing world.

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