What Do We Learn From Schumpeterian Growth Theory?

Philippe Aghion, Ufuk Akcigit and Peter Howitt

No 298, Working Paper Series in Economics and Institutions of Innovation from Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

Abstract: Schumpeterian growth theory has “operationalized” Schumpeter’s notion of creative destruction by developing models based on this concept. These models shed light on several aspects of the growth process which could not be properly addressed by alternative theories. In this survey, we focus on four important aspects, namely: (i) the role of competition and market structure; (ii) firm dynamics; (iii) the relationship between growth and development with the notion of appropriate growth institutions; (iv) the emergence and impact of long-term technological waves. In each case Schumpeterian growth theory delivers predictions that distinguish it from other growth models and which can be tested using micro data.

Keywords: Creative destruction; entry; exit; competition; firm dynamics; reallocation; R&D; industrial policy; technological frontier; Schumpeterian wave; general purpose technology (search for similar items in EconPapers)
JEL-codes: O10 O11 O12 O30 O31 O33 O40 O43 O47 (search for similar items in EconPapers)
Pages: 42 pages
Date: 2013-02-18
New Economics Papers: this item is included in nep-dev, nep-ent, nep-fdg, nep-hme and nep-hpe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (106)

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Related works:
Chapter: What Do We Learn From Schumpeterian Growth Theory? (2014)
Working Paper: What Do We Learn From Schumpeterian Growth Theory? (2013)
Working Paper: What Do We Learn From Schumpeterian Growth Theory? (2013)
Working Paper: What Do We Learn From Schumpeterian Growth Theory? (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:cesisp:0298

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