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A Review of Economic Development Thinking and the Role of Innovative Entrepreneurship: Past, Present, and Future

In: Driving Complexity in Economic Development

Author

Listed:
  • Diego Gomez

    (Fundación ECSIM)

  • Sebastian Aparicio

    (Universitat Autònoma de Barcelona
    Universitat Autònoma de Barcelona)

  • David Urbano

    (Universitat Autònoma de Barcelona
    Universitat Autonoma de Barcelona)

Abstract

At the beginning of the twenty-first century, the literature established that economic growth remains like a mystery. In this chapter, we take a trip back in time and review chronologically the most influential theories of economic development. First, this chapter reviews the classical theories of economic development, focusing on endogenous and exogenous economic growth theories. Second, it reviews Schumpeterian development theories, introducing a key part of the “heart” of this book: innovation. Finally, this chapter takes part in the discussion between accumulationists and assimilationists, and takes a stand on how entrepreneurship and innovation can trigger a social transformation through system dynamics.

Suggested Citation

  • Diego Gomez & Sebastian Aparicio & David Urbano, 2023. "A Review of Economic Development Thinking and the Role of Innovative Entrepreneurship: Past, Present, and Future," Springer Books, in: Driving Complexity in Economic Development, chapter 3, pages 41-99, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-34386-5_3
    DOI: 10.1007/978-3-031-34386-5_3
    as

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