Jump to ContentJump to Main Navigation
Volatility and Growth$
Users without a subscription are not able to see the full content.

Philippe Aghion and Abhijit Banerjee

Print publication date: 2005

Print ISBN-13: 9780199248612

Published to Oxford Scholarship Online: January 2007

DOI: 10.1093/acprof:oso/9780199248612.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 20 June 2019

Volatility and Growth: AK versus Schumpeterian Approach

Volatility and Growth: AK versus Schumpeterian Approach

Chapter:
(p.10) 1 Volatility and Growth: AK versus Schumpeterian Approach
Source:
Volatility and Growth
Author(s):

Phillippe Aghion (Contributor Webpage)

Abhijit Banerjee (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199248612.003.0003

The modern approach to growth, often called ‘new growth theory’, consists of two quite distinct theories. One is the so-called AK approach, which emphasizes the role of capital accumulation. The alternative to the AK model is the Schumpeterian model, which emphasizes the role of R&D and productivity-enhancing investments in the growth process. This chapter reviews what these two canonical views of growth say about how volatility affects growth.

Keywords:   new growth theory, AK model, Schumpeterian model

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .