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Growth and Development: A Schumpeterian Approach

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  • Philippe Aghion

    () (Department of Economics, Harvard University)

Abstract

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.

Suggested Citation

  • Philippe Aghion, 2004. "Growth and Development: A Schumpeterian Approach," Annals of Economics and Finance, Society for AEF, vol. 5(1), pages 1-25, May.
  • Handle: RePEc:cuf:journl:y:2004:v:5:i:1:p:1-25
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    References listed on IDEAS

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    Cited by:

    1. Dai, Darong, 2011. "Time as an Endogenous Random Variable Smoothly Embedded into Preference Manifold," MPRA Paper 40182, University Library of Munich, Germany.
    2. Wang, Chan, 2012. "A very preliminary survey on growth and development," MPRA Paper 39037, University Library of Munich, Germany.
    3. Kamilia Loukil, 2016. "Foreign Direct Investment And Technological Innovation In Developing Countries," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 31-40, September.
    4. Dai, Darong, 2013. "Cooperative economic growth," Economic Modelling, Elsevier, vol. 33(C), pages 407-415.
    5. Kunting Chen, 2012. "Analysis of the Great Divergence under a Unified Endogenous Growth Model," Annals of Economics and Finance, Society for AEF, vol. 13(2), pages 317-353, November.
    6. Dai, Darong, 2011. "Modeling the minimum time needed to economic maturity," MPRA Paper 40583, University Library of Munich, Germany, revised 08 Aug 2012.
    7. Ståle Holgersen, 2015. "Crisis and the Post-Industrial City: Or is Malmö Building Yesterday's City Tomorrow, Again?," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 106(3), pages 231-245, July.
    8. Lai, Richard, 2005. "The Geography of Retail Inventory," MPRA Paper 4755, University Library of Munich, Germany.
    9. Kapás, Judit, 2007. "Hogyan fejlődik a vállalat?. A fizikai és a társadalmi technológia kölcsönhatásos evolúciós folyamata
      [How do firms develop?. The mutual evolutionary process of physical and social technology]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 49-66.
    10. Peter J. Stauvermann & Ronald R. Kumar, 2015. "The Dilemma of International Capital Tax Competition in the Presence of Public Capital and Endogenous Growth," Annals of Economics and Finance, Society for AEF, vol. 16(2), pages 255-272, November.
    11. Pyyhtiä, Ilmo, 2007. "Why is Europe lagging behind?," Research Discussion Papers 3/2007, Bank of Finland.
    12. Dai, Darong, 2012. "Comparative Studies on Cooperative Stochastic Differential Game and Dynamic Sequential Game of Economic Maturity," MPRA Paper 44339, University Library of Munich, Germany.
    13. Darong Dai, 2012. "Stochastic Versions of Turnpike Theorems in the Sense of Uniform Topology," Annals of Economics and Finance, Society for AEF, vol. 13(2), pages 381-423, November.
    14. Jian Li & Kunrong Shen & Ru Zhang, 2011. "Measuring Knowledge Spillovers: A Non-appropriable Returns Perspective," Annals of Economics and Finance, Society for AEF, vol. 12(2), pages 265-293, November.
    15. Dai, Darong, 2011. "Modeling the minimum time needed to economic maturity," MPRA Paper 40386, University Library of Munich, Germany, revised 31 Jul 2012.

    More about this item

    Keywords

    Innovation; Growth; Convergence; Exhaustible resources; Technology transfers; Knowledge spillovers;

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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