Difference between revisions of "Schumpeterian model"

From Devec
Jump to: navigation, search
(Created page with "The Schumpeterian model is a model of long-run economic growth model. ==See also== ==External links== ==References==")
 
Line 1: Line 1:
 
The Schumpeterian model is a model of [[long-run economic growth model]].
 
The Schumpeterian model is a model of [[long-run economic growth model]].
 +
 +
Called Schumpeterian growth theory or Schumpeterian growth paradigm, it is one of the two branches of [[innovation-based theory]]  (the other being [[product-variety model]]). The Schumpeterian growth theory was developed by French economist [[w:Philippe Aghion|Philippe Aghion]] and Peter Howitt (1992). it grew out of modern industrial organization theory. It focuses on quality-improving innovations that render old products obsolete and hence involves the force that Austrian-American economist Joseph Schumpeter called creative destruction.<ref>{{cite book|last1=Aghion|first1=Philippe|last2=Howitt|first2=Peter W.|title=The Economics of Growth|url=https://books.google.com.ar/books?id=B9vxCwAAQBAJ&pg=PA69&lpg=PA69&dq=%22Product-variety+model%22&source=bl&ots=9p-pGKlJ5J&sig=o2Nun5kFVLmW6zj1qzLXgw00PJ8&hl=en&sa=X&ved=0ahUKEwjss6H2kvTaAhVDvJAKHUP_CrI4ChDoAQg1MAI#v=onepage&q=%22Product-variety%20model%22&f=false}}</ref> The SM models growth as resulting from innovations involving [[creative destruction]].<ref>{{cite web|title=The Schumpeterian Growth Paradigm|url=https://www.annualreviews.org/doi/abs/10.1146/annurev-economics-080614-115412|website=annualreviews.org|accessdate=7 May 2018}}</ref>
 +
 +
== Structure ==
 +
 +
The Schumpeterian growth theory is underlined by three main assumptions:
 +
* Growth is primarily driven by technological innovations.
 +
* Innovations are produced by entrepreneurs who seek monopoly rents from them.
 +
* New technologies drive out old technologies.<ref>{{cite web|title=The Schumpeterian Framework|url=http://faculty.cas.usf.edu/jkwilde/macro208/ah2-schumpeterian.pdf|website=faculty.cas.usf.edu|accessdate=7 May 2018}}</ref>
 +
 +
 +
 +
== See also ==
 +
 +
== References ==
 +
  
 
==See also==
 
==See also==

Revision as of 19:51, 7 May 2018

The Schumpeterian model is a model of long-run economic growth model.

Called Schumpeterian growth theory or Schumpeterian growth paradigm, it is one of the two branches of innovation-based theory (the other being product-variety model). The Schumpeterian growth theory was developed by French economist Philippe Aghion and Peter Howitt (1992). it grew out of modern industrial organization theory. It focuses on quality-improving innovations that render old products obsolete and hence involves the force that Austrian-American economist Joseph Schumpeter called creative destruction.[1] The SM models growth as resulting from innovations involving creative destruction.[2]

Structure

The Schumpeterian growth theory is underlined by three main assumptions:

  • Growth is primarily driven by technological innovations.
  • Innovations are produced by entrepreneurs who seek monopoly rents from them.
  • New technologies drive out old technologies.[3]


See also

References

See also

External links

References

  1. Aghion, Philippe; Howitt, Peter W. The Economics of Growth. 
  2. "The Schumpeterian Growth Paradigm". annualreviews.org. Retrieved 7 May 2018. 
  3. "The Schumpeterian Framework" (PDF). faculty.cas.usf.edu. Retrieved 7 May 2018.