In a study of European growth in the interwar period, the Swedish economist Ingvar Svennilson integrated a Keynesian theory of demand-led cumulative growth with a Schumpeterian analysis of transformation. Today, Svennilson is seen, together with the Schumpeterian economists Johan Åkerman and Erik Dahmén, as members of a unique Swedish growth school. A combination of Keynes and Schumpeter with Svennilson as a mediator has been facilitated by neo-Schumpeterian theories of demand-led innovations. But it has been obstructed by a hypothesis in the Schumpeterian tradition that productivity growth is stimulated by low aggregate demand and by Svennilson’s strong commitment to “Verdoorn’s Law” which actually is Svennilson’s Law. However, Svennilson’s analyses of the importance of short-run imbalances for economic growth and the existence of imperfect capital markets discriminating progressive new firms have direct equivalences in modern macroeconomics. Svennilson’s main contributions to economics of today are his syntheses between macroeconomic and structural analysis, short and long run theoretical perspectives and, more basically, between theoretical and empirical research. Copyright Springer-Verlag Berlin/Heidelberg 2005
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 15 (2005) Issue (Month): 2 (January) Pages: 187-210 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)