Lessons from Schumpeterian Growth Theory | Zendy

Philippe Aghion | Zendy; Ufuk Akcigit | Zendy; Peter Howitt | Zendy

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Lessons from Schumpeterian Growth Theory

Author(s) -

Philippe Aghion,

Ufuk Akcigit,

Peter Howitt

Publication year - 2015

Publication title -

american economic review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 16.936

H-Index - 297

eISSN - 1944-7981

pISSN - 0002-8282

DOI - 10.1257/aer.p20151067

Subject(s) - economics , operationalization , creative destruction , growth theory , neoclassical economics , competition (biology) , microeconomics , industrial organization , ecology , philosophy , epistemology , biology

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.

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