Innovation and Growth in the Global Economy

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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Authors:	Grossman, Gene M. ; Helpman, Elhanan
Institutions:	The MIT Press
Subject:	innovation \| growth theory \| industrial research

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Series:	MIT Press Books.
Type of publication:	Book / Working Paper
Classification:	O31 - Innovation and Invention: Processes and Incentives ; O25 - Industrial Policy ; O4 - Economic Growth and Aggregate Productivity
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005755459