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CiteWeb id: 19930000010

CiteWeb score: 13190

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.

The publication "Innovation and Growth in the Global Economy" is placed in the Top 1000 of the best publications in CiteWeb. Also in the category Economics it is included to the Top 100. Additionally, the publicaiton "Innovation and Growth in the Global Economy" is placed in the Top 100 among other scientific works published in 1993.
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