Lessons from Schumpeterian Growth Theory

Philippe Aghion, Ufuk Akcigit and Peter Howitt

American Economic Review, 2015, vol. 105, issue 5, 94-99

Abstract: By operationalizing the notion of creative destruction, Schumpeterian growth theory generates distinctive predictions on important microeconomic aspects of the growth process (competition, firm dynamics, firm size distribution, cross-firm and cross-sector reallocation) which can be confronted using rich micro data. In this process the theory helps reconcile growth with industrial organization and development economics.

JEL-codes: B52 D20 D40 L10 O10 O41 (search for similar items in EconPapers)
Date: 2015
Note: DOI: 10.1257/aer.p20151067
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Citations: View citations in EconPapers (61)

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