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Growth and Development: A Schumpeterian Approach

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  • Philippe Aghion

    () (Department of Economics, Harvard University)

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    Abstract

    In this paper we present the so-called Schumpeterian approach to economic growth, in which growth is primarily driven by entrepreneurial innovations that are themselves influenced by the institutional environment. We argue that this more micro-founded approach both, questions the old divisions between growth and development economics, and also provides the analytical tools to design successful; strategies and appropriate institutions to achieve fast convergence and sustainable growth in countries at different initial levels of technological development.

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    File URL: http://www.aeconf.net/Articles/May2004/aef050101.pdf
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    Bibliographic Info

    Article provided by Society for AEF in its journal Annals of Economics and Finance.

    Volume (Year): 5 (2004)
    Issue (Month): 1 (May)
    Pages: 1-25

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    Handle: RePEc:cuf:journl:y:2004:v:5:i:1:p:1-25

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    Related research

    Keywords: Innovation; Growth; Convergence; Exhaustible resources; Technology transfers; Knowledge spillovers;

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    References

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    2. Samuel S. Kortum, 1997. "Research, Patenting, and Technological Change," Econometrica, Econometric Society, vol. 65(6), pages 1389-1420, November.
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    Cited by:
    1. Dai, Darong, 2011. "Modeling the minimum time needed to economic maturity," MPRA Paper 40583, University Library of Munich, Germany, revised 08 Aug 2012.
    2. Jian Li & Kunrong Shen & Ru Zhang, 2011. "Measuring Knowledge Spillovers: A Non-appropriable Returns Perspective," Annals of Economics and Finance, Society for AEF, vol. 12(2), pages 265-293, November.
    3. Dai, Darong, 2011. "Time as an Endogenous Random Variable Smoothly Embedded into Preference Manifold," MPRA Paper 40182, University Library of Munich, Germany.
    4. Wang, Chan, 2012. "A very preliminary survey on growth and development," MPRA Paper 39037, University Library of Munich, Germany.
    5. Dai, Darong, 2011. "Stochastic Versions of Turnpike Theorems in the Sense of Uniform Topology," MPRA Paper 40216, University Library of Munich, Germany.
    6. Kunting Chen, 2012. "Analysis of the Great Divergence under a Unified Endogenous Growth Model," Annals of Economics and Finance, Society for AEF, vol. 13(2), pages 317-353, November.

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