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We provide an outline for viewing the middle-income trap through the lens of the Schumpeterian growth paradigm, which places the notion of creative destruction at the center of economic growth. Economic growth and development come from the interplay between changes in economic structure and...
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Schumpeterian growth theory has operationalized Schumpeter’s notion of creative destruction by developing models based … institutions; and (iv) the emergence and impact of long-term technological waves. In each case, Schumpeterian growth theory …
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