He looked Italian industrialisation, where as a moderately backwards country he expected to find banks playing a central role in the process, he did indeed find banks playing a central process in Italy’s industrialisation.This method of industrialisation was imported from Germany where it had already proved successful.[page 353] Europe in the 19th C was a continent in which many different states were at many different states of backwardness.
Relativna zaostalost različitih evropskih zemalja u odnosu na Englesku podsticala ih je na traganje za "kreativnim supstitucijama" neophodnih pretpostavki uspešnog industrijskog razvoja.
Analizirajući ruski i sovjetski privredni razvoj, Geršenkron je formulisao tezu o „prednostima zaostalosti“ koja se razlikuje od one koju nalazimo u ruskoj socijalnoj i političkoj misli.
 The degree of backwardness may not be the defining characteristic of how a country will industrialise, but it remains a very useful conceptual tool.
Summary Starting from the recent debates on the need of reindustrialization of post-socialist countries, the author in this paper presented and analyzed „theory of relative backwardness” that was formulated during sixties by Russian-born...
 The Bulgarian experience, which saw no industrial take off, shows us that lacking the correct institutions it is possible to on industrialisation.
There are advantages to backwardness because the stock of knowledge on which can be drawn increases, but there are also disadvantages and it is easy to miss the opportune moment for industrialisation as Italy did.
Just because something was necessary for industrialisation in one country, for example England, it does not mean it is necessary for industrialisation in all countries.
Empirically this is true, either the preconditions for English industrialisations were not present in late industrialisers or were present to a very small extent.
more Summary Starting from the recent debates on the need of reindustrialization of post-socialist countries, the author in this paper presented and analyzed „theory of relative backwardness” that was formulated during sixties by Russian-born Harvard professor Alexander Gerschenkron.
Studying the economic history of countries that differ in their degree of economic (under)development, Gerschenkron showed that the industrialization of „backward” countries wasn’t performed in terms of the English „industrial revolution” pattern.