Topic > Essay on Innovation and Innovation - 868

607) Countries' decision to specialize would determine how to engage in international trade. However, countries are not completely free to choose their own development strategy. Some constraints do not allow them to decide on the development strategy they want. Some factors should be taken into consideration by policy makers to determine national development policy. “Today's global economy does not identify a single best result, achieved by international competition, in which each country serves the interests of the world by producing only those goods that it can naturally produce most efficiently. Rather, there are many possible outcomes that depend on what countries actually choose to do, what capabilities, natural or man-made, they actually develop. "(Gomory, Ralph E. and William J. Baumol, 2000, p.