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Carlota Perez

Carlota Perez is Honorary Professor at the 果冻影院 Institute for Innovation and Public Purpose (IIPP).

Carlota Perez
Carlota studies the socio-economic impact of technical change and the historical context of growth and development.

She is the author of the influential聽Technological Revolutions and Financial Capital: the Dynamics of Bubbles and Golden Ages聽(Elgar 2002), which focussed on the role that finance plays in the diffusion of technological revolutions.


During her fixed tenure as LSE Centennial Professor (2013-2016), she created the popular departmental course聽DV446: Technical Change, Paradigm Shifts and Global Development. She is also Professor of Technology and Development at the Technological University of Tallinn, and Honorary Professor at SPRU (Science and Technology Policy Research), University of Sussex. She is regularly invited to lecture at universities around the world.

She currently teaches in the MPA at IIPP, in the Masters in Technology Governance and Digital transitions at TalTech in Estonia, and in a post-graduate course at IDS (Institute of Development Studies), Sussex University.

Her career began in civil service, and has spanned academic research, teaching and consultancy. In the late 1970s, she conducted research at Venezuela鈥檚 Central University on the structural causes of the energy crisis. She was then a member of a think tank at the Institute of Foreign Trade and became the founding Director of Technological Development at the Ministry of Industry in the 1980s, where,聽among other policies to promote innovation and the use of the new information and electronics technologies, she created the first venture capital fund in the country.

She has been a consultant for several Latin American governments and multilateral organisations, such as UNCTAD, UNIDO, CEPAL, the OECD, the Andean Pact and the World Bank. In the mid-1990s, she was an advisor to INTEVEP, the R&D and technology arm of PDVSA, the national oil company in Venezuela.

Since the publication of her book she has frequently been asked to consult for global corporations (including IBM, Cisco, Telefonica, Mondragon, Ericsson, Sogeti and ING Bank) and to speak at major business and public sector events. From 2015 to 2016 she was the Chair of the聽.

She did her initial degree in Interdisciplinary Social Sciences at the University of Paris VII, and her Master鈥檚 鈥 as her initial formulation of her great surges theory 鈥 in San Francisco State University. She has nurtured research links with several European universities. In 2021, she was awarded an Honorary Doctorate by the University of Utrecht.

Her current position as Honorary Professor at SPRU started with a research fellowship in 1983, when she began a long-term collaboration with Professor Chris Freeman. She has been teaching a postgraduate course at the Tallinn University of Technology since 2007 and was affiliated to CERF and Cambridge Finance at the Judge Business School of Cambridge University from 2002 until 2014.

For further information and access to videos and publications see:

Research summary

In IIPP she participates in the EU-Horizon Project Beyond 4.0, looking at the way various analysts have understood technological revolutions, and about the possibility of smart, green, fair and global directions for the social shaping of the ICT revolution. As Academic in Residence at Anthemis UK, Professor Perez is currently working on her research project 鈥, which is a sequel to her book on the role of financial capital, this time analysing聽the historical role of the state in shaping technological revolutions.

Her areas of research and interest include:

  • The impact of technical change and technological revolutions on society, business and economies
  • Technological revolutions and techno-economic paradigm shifts
  • The roles of finance, markets and governments in promoting and propagating innovation
  • The diffusion of technological revolutions and the changing windows of opportunity for developing countries
  • Sustainability 鈥 鈥榞reen growth鈥 鈥 and its potential to serve as a driver of innovation, development, employment and economic revival
  • Conditions for natural resource-based innovation and development strategies
  • Technology and the potential for overcoming inequality

Selected publications

Journal articles
  • 2015 鈥淣atural Resource Industries as a Platform for the Development of Knowledge Intensive Industries鈥, with A. Marin and L. Navas-Aleman in聽Tijdschrift voor economische en sociale geografie (Journal of Economic and Social Geography), Volume 106, Issue 2,聽154鈥168
  • 2013 鈥淯nleashing a golden age after the financial collapse: Drawing lessons from history鈥, in聽Environmental Innovations and Societal Transitions, Vol. 80, No. 1, 11鈥23
  • 2010 鈥淭echnological revolutions and techno-economic paradigms鈥,聽Cambridge Journal of Economics, Vol. 34, No.1, 185-202
  • 2010 鈥淭echnological dynamism and social inclusion in Latin America:聽CEPAL Review聽No. 100, 121-141. Original Spanish 鈥淒inamismo tecnol贸gico e inclusi贸n social en Am茅rica Latina: una estrategia de desarrollo productivo basada en los recursos naturales鈥 Revista CEPAL No. 100, April, 123-145.
  • 2009 鈥淟a Otra Globalizaci贸n: los Retos del Colapso Financiero.鈥 [The other Globalisation: the Challenges of the Financial Collapse]聽Problemas del Desarrollo: Revista Latinoamericana de Econom铆a,聽(UNAM-M茅xico) Vol. 40, No.157, 11-37
  • 2009 鈥淭he Double Bubble at the Turn of the Century: Technological Roots and Structural Implications鈥,聽Cambridge聽Journal of Economics, Vol. 33, No. 4, 779-805
  • 2001 "Technological change and opportunities for development as a moving target",聽Cepal Review, No. 75, December, 109-130
  • 2000 "Change of paradigm in Science and Technology Policy",聽Cooperation South, TCDC-UNDP, No. 1-2000, 43-48
  • 1986 "Las Nuevas Tecnolog铆as: Una Visi贸n De Conjunto", in聽Estudios Internacionales, A帽o XIX, Oct.-Dic. 1986, No.76, Santiago de Chile, 420-459.
  • 1985 "Microelectronics, Long Waves and Technical Change: New Perspectives for Developing Countries鈥,聽World Development, Vol. 13, N潞 3, 441-463
  • 1983 "Structural change and assimilation of new technologies in the economic and social systems,聽Futures, Vol. 15, N潞 4, October, 357-375 and 1985, in Italian translation, in P. Bisogno ed.,聽Paradigmi Tecnologici: Saggi Sull Economia del Progresso Tecnico,聽Prometheus聽No. 2, , Milan, 155-186. Reprinted in C. Freeman, ed.聽The Long Wave in the World Economy, International Library of Critical Writings in Economics, Edward Elgar, Aldershot, 1996.
Books and book chapters
  • 2019聽聽 聽鈥淭ransitioning to Smart Green Growth: Lessons from History鈥 in Fouquet, Roger, ed. Handbook on Green Growth. Cheltenham: Elgar. Ch. 19 pp 447-463
  • 2018聽聽 聽With Tamsin Murray-Leach 鈥淪mart & Green: A New 鈥楨uropean Way of Life鈥 as the Path for Growth, Jobs and Wellbeing 鈥 in Re:Thinking Europe. Positions on Shaping an Idea, Austrian Council for Research and Technology Development. Vienna: Verlag Holzhausen. Pp. 208-223
  • 2016 鈥淐ould technology make natural resources a platform for industrialization? Identifying a new opportunity for Latin America (and other resource-rich countries)鈥. 聽In Noman, A. and J. Stiglitz (eds.) Efficiency, Finance, and Varieties of Industrial Policy. New York: Columbia University Press. Ch. 11
  • 2016 "Capitalism, Technology and a Green Global Golden Age: The Role of History in Helping to Shape the Future" in Mazzucato and Jacobs,聽Rethinking Capitalism. London: Wiley-Blackwell
  • 2015 "Innovation as Growth Policy: The Challenge for Europe" with Mazzucato, M., in Fagerberg, J., S. Laestadius and B. Martin (eds.)聽The Triple Challenge for Europe: Economic Development, Climate Change and Governance.聽Oxford: Oxford University Press, Ch. 9, 227-262; previously published as SPRU Working Paper No. 13-2014, July 2014
  • 2014 "The possible dynamic role of natural resource-based networks in Latin American development strategies". with Marin and Navas-Aleman in Dutr茅nit and Sutz (eds.)聽National Innovation Systems, Social Inclusion and Development: The Latin American Experience, Cheltenham: Edward Elgar
  • 2014 "A New Age of Technological Progress" in Umunna, C. (ed)聽Owning the Future, London: Policy Network
  • 2013 鈥淚nnovation systems and policy for development in a changing world鈥, in E, S, Andersen, J. Fagerberg and B. Martin (eds.)聽The Future of Innovation Studies,聽Oxford: Oxford University Press development in a changing world鈥, in E, S, Andersen, J. Fagerberg and B. Martin (eds.) Oxford: Oxford University Press
  • 2013 鈥淔inancial bubbles, crises and the role of government in unleashing Golden Ages" in Pyka, A. and Burghof, H.P. (eds.)聽Innovation and Finance. London: Routledge, pp. 11 -25
  • 2007 "Finance and technical change: A long-term view" in H. Hanusch and A. Pyka, eds.,聽The Elgar Companion to Neo-Schumpeterian Economics, Cheltenham: Edward Elgar
  • 2006 鈥淩especialisation and the deployment of the ICT paradigm: An essay on the present challenges of globalisation鈥 in Compano et al. eds.,聽The Future of the Information Society in Europe,聽Technical Report EUR22353EN, IPTS, Joint Research Centre, Directorate General, European Commission, pp. 27-56.
  • 2002聽Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages, Edward Elgar, Cheltenham, U.K. (Paperback 2003, Spanish version Siglo XXI 2004, South Korean edition, IBM, 2006, Chinese edition Renmin University 2007; Russian edition, Delo, 2011)
  • 1992 "New technological model and higher education: A view from the changing world of work", in Gustavo Lopez Ospina ed.,聽Challenges and Options: Specific proposals, CRESALC/UNESCO, pp. 121-145.
  • 1988 "Structural Crises of Adjustment, Business Cycles and Investment Behaviour" (with C. Freeman), in G.Dosi et al. eds.聽Technical Change and Economic Theory, Francis Pinter, London, pp. 38-66. Reprinted in H. Hanusch ed.The Economic Legacy of Joseph Schumpeter, Elgar, London, 1998
  • 1988 "Catching Up in Technology: entry Barriers and Windows of Opportunity", (with L. Soete), in Dosi et al eds.聽Technical Change and Economic Theory, Francis Pinter, London, pp. 458-479.
  • 1986 "New Technologies and Development", in Freeman and Lundvall eds.聽Small Countries facing The Technological Revolution, Francis Pinter, London, UK, pp. 85-97 and 1989, in Italian, as "Nuove tecnologie e sviluppo", en Eugenio Bennedetti ed.,聽Mutazioni tecnologiche e condizionamenti internazionali. FrancoAngeli, Milan, pp. 71-89. Reproduced in L. Mytelka, ed (2007).聽Innovation and Economic Development, volume 213 in聽The International Library of Critical Writings in Economics Series, Edward Elgar, Cheltenham, Part I, chapter 2.