The Middle-Income Trap from a Schumpeterian Perspective
Aghion, Philippe; Bircan, Cagatay | September 2017
Abstract
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 supporting institutions at different stages of development, i.e., structural transformation. We present a view of the process of economic development that takes the microlevel growth of firms and their competitive interaction as its building blocks. We discuss how institutional factors affect the evolution of these building blocks in understanding growth outcomes at different stages of development.
Citation
Aghion, Philippe; Bircan, Cagatay. 2017. The Middle-Income Trap from a Schumpeterian Perspective. © Asian Development Bank. http://hdl.handle.net/11540/7391. License: CC BY 3.0 IGO.ISSN
2313-6537 (Print)
2313-6545 (e-ISSN)
Keywords
Development strategy
Development models
Economic development
New technology
Rural planning
Aid coordination
Industrial projects
Infrastructure projects
Natural resources policy
Educational development
Absorptive capacity
Development Planning
Development Research
Technology Development
Aid And Development
Asian Development Bank
Comprehensive Development Framework
Development Cooperation
Development Management
Development Planning
Development Strategies
Rural planning
Regional development bank
Project finance
Strategic planning
Infrastructure projects
Government programs
Public finance
Public enterprises
Development
Economics
Development In East Asia
Development Planning
Development Research
Technology Development
Aid And Development
Asian Development Bank
Comprehensive Development Framework
Development Cooperation
Development Management
Development Planning
Development Strategies
Development strategy
Development models
Economic development
New technology
Rural planning
Aid coordination
Industrial projects
Infrastructure projects
Natural resources policy
Educational development
Absorptive capacity
Economic development projects
Economic forecasting
Economic development projects
Municipal government
Technology transfer
Exchanges of patents and technical information
Technical education
Technology
Communication in rural development
Communication in community development
Economic development projects
Development banks
Economic forecasting
Environmental auditing
Cumulative effects assessment
Human rights and globalization
Transfer Technocracy
Absorptive capacity
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