American Economic Review Vol. 105 No. 5 2015

Lessons from Schumpeterian Growth Theory

Philippe Aghion¹; Ufuk Akcigit²; Peter Howitt³

¹ Department of Economics, Harvard University, Littauer Center 222, Cambridge, MA 02138 (e-mail: ) · ² Department of Economics, University of Pennsylvania, 3718 Locust Walk, McNeil 160, Philadelphia, PA 19104 (e-mail: ) · ³ Department of Economics, Brown University, Robinson Hall, 64 Waterman Street, Providence, RI 02912 (e-mail: )

Abstract

By operationalizing the notion of creative destruction, Schumpeterian growth theory generates distinctive predictions on important microeconomic aspects of the growth process (competition, firm dynamics, firm size distribution, cross-firm and cross-sector reallocation) which can be confronted using rich micro data. In this process the theory helps reconcile growth with industrial organization and development economics.

DOI

10.1257/aer.p20151067

Volume

105

Issue

5

Pages

94-99

Language

en

Sources

bibtex:phds-export.bib crossref openalex

Cite

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