What Do We Learn from Schumpeterian Growth Theory

By Philippe Aghion, Ufuk Akcigit, Peter Howitt. 2013

452 citations recorded by the source corpus.

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.

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/f4361badf7259fe4b42f74a30610467d7491b017

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Citations in the corpus

Inverted-U relationship between R&D intensity and survival : evidence on scale and complementarity effects in UK data. (2016, unknown): “4 Survival time also decreases with the rate of creative destruction because the latter accelerates the rate at which the firm’s own innovative technology becomes obsolete (Aghion et al., 2014).”
Are Ideas Getting Harder to Find? (2020, background): “(1) Classic examples include Romer (1990) and Aghion and Howitt (1992), but many recent papers follow this approach, including Aghion, Akcigit and Howitt (2014), Acemoglu and Restrepo (2016), Akcigit, Celik and Greenwood (2016), and Jones and Kim (2014).”
Growth, Slowdowns, and Recoveries (2019, unknown): “This paper is related to the literature linking business cycles to growth.5 Barlevy (2004) shows that the welfare costs of business cycle fluctuations are higher in an endogenous growth framework 4For a survey on Schumpeterian growth models, see Aghion, Akcigit, and Howitt (2013).”
R&D and productivity in OECD firms and industries: A hierarchical meta-regression analysis ☆ (2016, unknown): “*, **, *** indicate signiﬁcance at 10%, 5% and 1%, respectively. and Mairesse, 1984) ranges between 5% and 10%; whereas the It is also in line with Schumpeterian models (Aghion et al., 2014), which establish an inverted-U relationship between R&D intensity and productivity.”
Agglomeration and Innovation (2014, unknown): “This is accomplished in the innovation-based strand of the literature that formalizes Schumpeter’s idea of growth through creative destruction (Aghion and Howitt, 1992; Grossman and Helpman, 1991; Aghion et al., 2014).”
Patent Value and Citations: Creative Destruction or Strategic Disruption? (2013, methodology): “In our model, we rely on the Schumpeterian theory of creative destruction (see the recent survey by Aghion, Akcigit, and Howitt (2013) for more on this topic), where each new innovation builds on previous technologies, but also makes them obsolete by introducing a better one.”