Innovation and Growth in the Global Economy

ISBN-13: 9780262570978 / Angielski / Miękka / 1993 / 384 str.

Gene Grossman; Elhanan Helpman

Opis

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.