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Growth and Development: A Schumpeterian Approach

  • Philippe Aghion

    ()

    (Department of Economics, Harvard University)

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    In this paper we present the so-called Schumpeterian approach to economic growth, in which growth is primarily driven by entrepreneurial innovations that are themselves influenced by the institutional environment. We argue that this more micro-founded approach both, questions the old divisions between growth and development economics, and also provides the analytical tools to design successful; strategies and appropriate institutions to achieve fast convergence and sustainable growth in countries at different initial levels of technological development.

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    Article provided by Society for AEF in its journal Annals of Economics and Finance.

    Volume (Year): 5 (2004)
    Issue (Month): 1 (May)
    Pages: 1-25

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    Handle: RePEc:cuf:journl:y:2004:v:5:i:1:p:1-25
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    20. Xavier Sala-i-Martin, 1995. "Transfers, social safety nets and economic growth," Economics Working Papers 139, Department of Economics and Business, Universitat Pompeu Fabra.
    21. Robert J. Barro, 1995. "Inflation and Economic Growth," NBER Working Papers 5326, National Bureau of Economic Research, Inc.
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