Stochastic Growth In Schumpeterian Dynamics

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Stochastic Growth In Schumpeterian Dynamics

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Jati Sengupta (University of California, Santa Barbara)

Abstract

This paper discusses three key elements of stochastic growth in the Schumpeterian dynamics. These elements comprise the new entry of firms in an industry, the displacement of the old technology by the new and the nonlinear impact of learning by doing on the growth of innovating firms. Each of these elements has important implications for the new theory of endogenous growth.

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Paper provided by Department of Economics, UC Santa Barbara in its series University of California at Santa Barbara, Economics Working Paper Series with number wp2-99.

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Date of creation: 09 May 2003
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Handle: RePEc:cdl:ucsbec:wp2-99

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Other versions:
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Other versions:
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