Innovation and Growth in the Global Economy. Elhanan Helpman
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Author: Elhanan Helpman
Page Count: 384 pages
Published Date: 10 Mar 1993
Publisher: MIT Press Ltd
Publication Country: Cambridge, Mass., United States
Language: English
Type: Pdf
ISBN: 9780262570978
Download Link: innovation and growth in the global economy
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Traditional growth theory emphasizes the incentives for capital accumulation rather than technological progress. Innovation is treated as an exogenous process or a by-product of investment in machinery and equipment. Grossman and Helpman develop a unique approach in which innovation is viewed as a deliberate outgrowth of investments in industrial research by forward-looking, profit-seeking agents.
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