The Process of Creative Construction: Knowledge Spillovers, Entrepreneurship and Economic Growth
AbstractQuestioning the underlying assumptions of the process of creative destruction, we conceptualize an alternative process of creative construction that may characterize the dynamics between entrants and incumbents. We discuss the underlying mechanism of knowledge spillover strategic entrepreneurship whereby knowledge investments by existing organizations, when coupled with entrepreneurial action by individuals embedded in their context, results in new venture creation, heterogeneity in performance and subsequent growth in industries, regions and economies. The framework has implications for future research in entrepreneurship, strategy and economic growth.
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Bibliographic InfoPaper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2008-008.
Date of creation: 30 Jan 2008
Date of revision:
growth; spillovers; creative destruction; entrepreneurship;
Find related papers by JEL classification:
- L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
- L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-02-09 (All new papers)
- NEP-CSE-2008-02-09 (Economics of Strategic Management)
- NEP-ENT-2008-02-09 (Entrepreneurship)
- NEP-HRM-2008-02-09 (Human Capital & Human Resource Management)
- NEP-INO-2008-02-09 (Innovation)
- NEP-KNM-2008-02-09 (Knowledge Management & Knowledge Economy)
- NEP-TID-2008-02-09 (Technology & Industrial Dynamics)
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