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

DOI
10.15415/jtmge.2013.41003

AUTHORS

Weilin Zhao, Chihiro Watanabe and Yuji Tou

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.

KEYWORDS

Co-emergence, institutional innovation, bi-polarization, new normal.

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RNI Registration No. CHAENG/2016/68678