A Simple Model of Schumpeterian Growth with Complex Dynamics

Christophe Deissenberg and J. Nyssen

G.R.E.Q.A.M. from Universite Aix-Marseille III

Abstract: In this paper, we develop a Schumpeterian discrete-time model of endogeneous growth with an explicit market for the resource used for innovation-creating investment, and study its global dynamics. We show, among others, that the level of investment may fluctuate chaotically for a compact range of model parameters, as a consequence of the explicit intermediation and market imperfections (temporary monopoly power following an innovation) underlying the growth process.

Keywords: ECONOMIC GROWTH; INVESTMENTS (search for similar items in EconPapers)
JEL-codes: C69 E32 O41 (search for similar items in EconPapers)
Pages: 14 pages
Date: 1997
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Journal Article: A simple model of Schumpeterian growth with complex dynamics (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:aixmeq:97a01

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