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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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    Citations

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    Cited by:
    1. Dai, Darong, 2012. "Comparative Studies on Cooperative Stochastic Differential Game and Dynamic Sequential Game of Economic Maturity," MPRA Paper 44339, University Library of Munich, Germany.
    2. Dai, Darong, 2013. "Cooperative economic growth," Economic Modelling, Elsevier, vol. 33(C), pages 407-415.
    3. 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.
    4. Darong Dai, 2013. "Modeling The Minimum Time Needed To Economic Maturity," Economic Research Guardian, Weissberg Publishing, vol. 3(1), pages 2-21, June.
    5. Dai, Darong, 2011. "Stochastic Versions of Turnpike Theorems in the Sense of Uniform Topology," MPRA Paper 40216, University Library of Munich, Germany.
    6. Lai, Richard, 2005. "The Geography of Retail Inventory," MPRA Paper 4755, University Library of Munich, Germany.
    7. Kapás, Judit, 2007. "Hogyan fejlődik a vállalat?. A fizikai és a társadalmi technológia kölcsönhatásos evolúciós folyamata
      [How do firms develop?. The mutual evolutionary process of physical and social techno
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 49-66.
    8. 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.
    9. Wang, Chan, 2012. "A very preliminary survey on growth and development," MPRA Paper 39037, University Library of Munich, Germany.
    10. Pyyhtiä, Ilmo, 2007. "Why is Europe lagging behind?," Research Discussion Papers 3/2007, Bank of Finland.
    11. Dai, Darong, 2011. "Time as an Endogenous Random Variable Smoothly Embedded into Preference Manifold," MPRA Paper 40182, University Library of Munich, Germany.

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