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Lessons from Schumpeterian Growth Theory

Author

Listed:
  • Philippe Aghion
  • Ufuk Akcigit
  • Peter Howitt

Abstract

By operationalizing the notion of creative destruction, Schumpeterian growth theory generates distinctive predictions on important microeconomic aspects of the growth process (competition, firm dynamics, firm size distribution, cross-firm and cross-sector reallocation) which can be confronted using rich micro data. In this process the theory helps reconcile growth with industrial organization and development economics.

Suggested Citation

  • Philippe Aghion & Ufuk Akcigit & Peter Howitt, 2015. "Lessons from Schumpeterian Growth Theory," American Economic Review, American Economic Association, vol. 105(5), pages 94-99, May.
  • Handle: RePEc:aea:aecrev:v:105:y:2015:i:5:p:94-99
    Note: DOI: 10.1257/aer.p20151067
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Del Bo, Chiara F., 2016. "The rate of return to investment in R&D: The case of research infrastructures," Technological Forecasting and Social Change, Elsevier, vol. 112(C), pages 26-37.
    2. repec:bal:journl:2256-0742:2017:3:5:51 is not listed on IDEAS
    3. Cristiano Antonelli & Alessandra Colombelli, 2017. "The locus of knowledge externalities and the cost of knowledge," Regional Studies, Taylor & Francis Journals, vol. 51(8), pages 1151-1164, August.
    4. Z. Jun Lin & Shengqiang Liu & Fangcheng Sun, 2017. "The Impact of Financing Constraints and Agency Costs on Corporate R&D Investment: Evidence from China," International Review of Finance, International Review of Finance Ltd., vol. 17(1), pages 3-42, March.
    5. Ugur, Mehmet & Trushin, Eshref, 2018. "Asymmetric information and heterogeneous effects of R&D subsidies: evidence on R&D investment and employment of R&D personel," Greenwich Papers in Political Economy 21943, University of Greenwich, Greenwich Political Economy Research Centre.
    6. Philippe Aghion & Antonin Bergeaud & Gilbert Cette & Rémy Lecat & Hélène Maghin, 2019. "Coase Lecture ‐ The Inverted‐U Relationship Between Credit Access and Productivity Growth," Economica, London School of Economics and Political Science, vol. 86(341), pages 1-31, January.
    7. Dorner, Matthias & Harhoff, Dietmar, 2018. "A novel technology-industry concordance table based on linked inventor-establishment data," Research Policy, Elsevier, vol. 47(4), pages 768-781.
    8. Antonelli, Cristiano, 2017. "Digital knowledge generation and the appropriability trade-off," Telecommunications Policy, Elsevier, vol. 41(10), pages 991-1002.
    9. Philippe Aghion & Antonin Bergeaud & Gilbert Cette & Rémy Lecat & Hélène Maghin, 2018. "The Inverted-U Relationship Between Credit Access and Productivity Growth," Working papers 696, Banque de France.
    10. repec:ejw:journl:v:14:y:2017:i:2:p:196-217 is not listed on IDEAS
    11. Antonelli, Cristiano & Gehringer, Agnieszka, 2017. "Technological change, rent and income inequalities: A Schumpeterian approach," Technological Forecasting and Social Change, Elsevier, vol. 115(C), pages 85-98.

    More about this item

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • D20 - Microeconomics - - Production and Organizations - - - General
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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