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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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