This book finds that the R&D and technological innovation of a country is not a result, but a factor, of sustained economic growth. Bazhal develops Schumpeter's theory to argue that genuine economic growth - especially in transitioning and developing countries - is only possible with innovation....

Several researchers have attempted to explain industry"shakeouts" (i.e., creative destruction episodes during which industryoutput continues to rise in spite of a high number of exiting firms), butcurrent models do not account for the fact that shakeout occurs earlier inindustries marked by...

In this review, we argue that the Schumpeterian growth paradigm, which models growth as resulting from innovations involving creative destruction, sheds light on several aspects of the growth process that cannot be properly addressed by alternative theories. We focus on three important aspects...

This paper incorporates endogenous migration into a second-generation Schumpeterian growth model to study how migration, innovation, and growth interact with one another. The paper finds that migration always enhances the rates of innovation and growth of the receiving economy, but implementing...

Recent developments in economics have gone from the recognition of the importance of innovation for growth and the exploration of innovation mechanisms to the incorporation of the results of the previous research into economic models. An important lesson to be drawn from all this research is...

This volume presents selected contributions from the 2018 conference of the International Schumpeter Society (ISS). The selected chapters in this volume reflect the state-of-the-art of Schumpeterian economics dedicated to the three conference topics innovation, catch-up, and sustainability....

The rise of fintech is revolutionizing the financial landscape, with products and companies advancing innovative technologies to improve and automate financial services. In this paper, I use a novel dataset and implement a dynamic modelling to investigate the relationship between fintech and...