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

Diego Gomez, Sebastian Aparicio and David Urbano
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Diego Gomez: Fundación ECSIM
David Urbano: Universitat Autònoma de Barcelona

Chapter 3 in Driving Complexity in Economic Development, 2023, pp 41-99 from Springer

Abstract: 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.

Keywords: Innovation; Entrepreneurship; Economic development; Social capacity (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-34386-5_3

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