Innovation and Growth in the Global Economy

Paperback | January 29, 1993

byGene M. Grossman, Elhanan Helpman

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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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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...

Gene M. Grossman is Jacob Viner Professor of International Economics and Director of the International Economics Section at Princeton University.Elhanan Helpman is Professor of Economics at Harvard University, the Archie Sherman Chair Professor of International Economic Relations in the Eitan Berglas School of Economics at Tel-Aviv ...
Format:PaperbackDimensions:384 pages, 9 × 5.88 × 0.75 inPublished:January 29, 1993Publisher:The MIT Press

The following ISBNs are associated with this title:

ISBN - 10:0262570971

ISBN - 13:9780262570978

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A pathbreaking contribution by two of the smartest economists at the frontier of trade theory today.