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Relevant literature tends to take innovation catch-up of emerging markets' latecomer firms almost for granted. However, not all catch-up efforts are successful and some of these firms remain stuck in catching-up or exit from the market. In the search for explanations, this paper investigates the mediating effects of opportunity capture against those of technological innovation in the relationships with performance of single dimensions of absorptive capacity. Hypotheses about the different ways in which absorptive capacity can be deployed are tested on data collected from 166 manufacturing firms in Guangdong Province (China). Findings support a stronger mediation effect of opportunity capture between absorptive capacity dimensions and firm's performance than that of technological innovation. By using bootstrapped multiple mediation analysis and a multi-dimensional operationalisation of absorptive capacity, the study provides evidence of the relationships investigated, sheds light on some of their unintended effects on latecomer firms' innovation catch-up and draws practical implications. ; Part of this research has received funding from the European Union's Horizon H2020 Research and Innovation Programme under the Marie Sklodowska-Curie Action (Grant No. H2020-MSCA-RISE-2016-734447

By concentrating on one of the key locations of global manufacturing, this volume offers a contribution to contemporary industry studies. The rates of growth that have characterized the southern Guangdong province in the last three decades are unique, even with respect to the more general and often cited Chinese experience. But what role have governments played in these decades of growth? What are the aims and tools of industrial policies promoted in this core location of contemporary manufacturing? And what are the implications of the Guangdong experience of growth for the internatio.

AbstractWe analyse one of the most important policy experiences for industrial clustering in Southern China—the Specialised Towns programme—that has transformed some Chinese clusters into the backbone of global production chains. We offer a long-term, detailed overview of the policy programme and of Guangdong's specialised towns, classifying them as endogenous or exogenous according to their features, and investigate their contribution to local growth and rebalancing. This analysis of the Specialised Towns programme contributes to the international debate on revisiting industrial policy and suggests that the discussion should conceive them as articulated processes to reach long-term societal objectives.