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Stochastic Growth In Schumpeterian Dynamics

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  • Sengupta, Jati K.

Abstract

This paper discusses three key elements of stochastic growth in the Schumpeterian dynamics. These elements comprise the new entry of firms in an industry, the displacement of the old technology by the new and the nonlinear impact of learning by doing on the growth of innovating firms. Each of these elements has important implications for the new theory of endogenous growth.

Suggested Citation

  • Sengupta, Jati K., 2003. "Stochastic Growth In Schumpeterian Dynamics," University of California at Santa Barbara, Economics Working Paper Series qt6v13p7kx, Department of Economics, UC Santa Barbara.
    • Handle: RePEc:cdl:ucsbec:qt6v13p7kx
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    References listed on IDEAS

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    7. Antonelli, Cristiano, 1995. "The Diffusion of New Information Technologies and Productivity Growth," Journal of Evolutionary Economics, Springer, vol. 5(1), pages 1-17, February.
    8. Binder, M. & Pesaran, M.H., 1996. "Stochastic Growth," Cambridge Working Papers in Economics 9615, Faculty of Economics, University of Cambridge.
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