Innovation and Growth in the Global Economy

By Elhanan Helpman and Gene M. Grossman

Book Overview

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 an approach in which innovation is viewed as a deliberate outgrowth of investments in industrial research by forward looking, profit-seeking agents. They also devote attention to the place of international trade in the growth process, including the transmission of innovations from the industrial economies to the IDCs.

• Format: Hardcover
• Language: English
• ISBN: 0262071363
• ISBN13: 9780262071369
• Release Date: January 1991
• Publisher: Mit Pr
• Length: 376 Pages
• Weight: 1.98 lbs.
• Dimensions: 9.5" x 1.3" x 6.5"