Growth and Development: A Schumpeterian Approach

Philippe Aghion

Annals of Economics and Finance, 2004, vol. 5, issue 1, 1-25

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.

Keywords: Innovation; Growth; Convergence; Exhaustible resources; Technology transfers; Knowledge spillovers (search for similar items in EconPapers)
JEL-codes: A11 D90 O11 O31 O32 O34 O40 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (36)

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Persistent link: https://EconPapers.repec.org/RePEc:cuf:journl:y:2004:v:5:i:1:p:1-25

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