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Are There Schumpeterian Waves of Innovations?

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Author Info
Kleinknecht, Alfred
Abstract

Joseph A. Schumpeter's hypothesis that radical innovations come about in bunches has caused considerable controversy. The author's reexamination of the empirical evidence suggests that there is indeed poor evidence of macroeconomic innovation waves before the mid-nineteenth century. Thereafter, however, two long waves of major innovations occur. A t-test confirms that these waves can be distinguished from random fluctuations. Some implications of the findings on long wave theories, and in particular on demand and profit rate analysis, are sketched. Copyright 1990 by Oxford University Press.

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Publisher Info
Article provided by Oxford University Press in its journal Cambridge Journal of Economics.

Volume (Year): 14 (1990)
Issue (Month): 1 (March)
Pages: 81-92
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Handle: RePEc:oup:cambje:v:14:y:1990:i:1:p:81-92

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  1. Peters, Bettina, 2005. "Persistence of Innovation: Stylised Facts and Panel Data Evidence," ZEW Discussion Papers 05-81, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
    Other versions:
  2. Ron Boschma, 1996. "The window of locational opportunity-concept," Working Papers 260, Dipartimento Scienze Economiche, Universita' di Bologna. [Downloadable!]
  3. Reati, Angelo, 1998. "A Long-Wave Pattern for Output and Employment in Pasinetti’s Model of Structural Change," MPRA Paper 1663, University Library of Munich, Germany. [Downloadable!]
  4. B. Verspagen & G. Silverberg, 2000. "Breaking the waves: a poisson regression approach to schumpeterian clustering of basic innovations," ECIS Working Papers 00.16, Eindhoven Centre for Innovation Studies, Eindhoven University of Technology. [Downloadable!]
    Other versions:
  5. Silverberg,Gerald, 2003. "Long Waves: Conceptual, Empirical and Modelling Issues," Research Memoranda 015, Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology. [Downloadable!]
  6. Windrum,Paul & Birchenhall,Chris, 2002. "Technological diffusion, welfare and growth: technological succession in the presence of network externalities," Research Memoranda 038, Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology. [Downloadable!]
  7. Caniëls, M.C.J. & Verspagen, B., 1999. "The effects of economic integration on regional growth, an evolutionary model," ECIS Working Papers 99.13, Eindhoven Centre for Innovation Studies, Eindhoven University of Technology. [Downloadable!]
    Other versions:
  8. Heger, Diana, 2004. "The Link Between Firms? Innovation Decision and the Business Cycle : An Empirical Analysis," ZEW Discussion Papers 04-85, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  9. Silverberg,Gerald, 2005. "When is a Wave a Wave? Long Waves as Empirical and Theoretical Constructs from a Complex Systems Perspective," Research Memoranda 014, Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology. [Downloadable!]
  10. Korkut A. Ertürk, 2002. "Revisiting the Old Theory of Cyclical Growth: Harrod, Kaldor cum Schumpeter," Review of Political Economy, Taylor and Francis Journals, vol. 14(2), pages 179-192, April. [Downloadable!] (restricted)
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