Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/169350
Authors: 
Aghion, Philippe
Bircan, Cagatay
Year of Publication: 
2017
Series/Report no.: 
ADB Economics Working Paper Series 521
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.
Subjects: 
competition
creative destruction
middle-income trap
Schumpeterian growth
JEL: 
O10
O11
O30
O40
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/igo/
Document Type: 
Working Paper

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