Technological Innovation and Long Wave Theory: Two Pieces of the Puzzle
Since the 1930s, there have been few attempts to recast long wave theory and address the problems raised by Schumpeter's and Kuznets' models; most work has been empirical. This paper uses an inter-industrial analytical framework to explain stagnation, downswing and recovery. The proposed rationale enables us to dispense with Schumpeter's hypothesis of periodic bunching of radical innovations.
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Volume (Year): 1 (1991)
Issue (Month): 4 (November)
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