Stochastic Growth In Schumpeterian Dynamics
This paper discusses three key elements of stochastic growth in the Schumpeterian dynamics. These elements comprise the new entry of firms in an industry, the displacement of the old technology by the new and the nonlinear impact of learning by doing on the growth of innovating firms. Each of these elements has important implications for the new theory of endogenous growth.
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4527, National Bureau of Economic Research, Inc.
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- repec:cup:cbooks:9780521293853 is not listed on IDEAS
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