What Do We Learn From Schumpeterian Growth Theory?

Philippe Aghion, Ufuk Akcigit and Peter Brown ()
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Peter Brown: Department of Economics, Brown University

PIER Working Paper Archive from Penn Institute for Economic Research, Department of Economics, University of Pennsylvania

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 that 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; and (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; .rm 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: 43 pages
Date: 2013-06-03
New Economics Papers: this item is included in nep-fdg, nep-hme, nep-hpe and nep-ino
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (107)

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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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