The middle-income trap from a Schumpeterian perspective

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ADB Economics Working Paper Series ; No. 521

Classification and Topics

• Classification: Wirtschaft ; Economic Development: General ; Macroeconomic Analyses of Economic Development ; Innovation; Research and Development; Technological Change; Intellectual Property Rights: General ; Economic Growth and Aggregate Productivity: General
• Subject: competition ; creative destruction ; middle-income trap ; Schumpeterian growth

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Aghion, Philippe ; Bircan, Cagatay
• Event: Veröffentlichung
• (who): Asian Development Bank (ADB)
• (where): Manila
• (when): 2017

Further information

• DOI: doi:10.22617/WPS179029-2
• Handle: http://hdl.handle.net/10419/169350
• Last update: 10.03.2025, 11:43 AM CET