Innovation and Growth in the Global Economy - by Gene M Grossman & Elhanan Helpman (Paperback)

About the Book

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.

Book Synopsis

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.

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.

Review Quotes

"A pathbreaking contribution by two of the smartest economists at the frontier of trade theory today."--Jagdish Bhagwati, Columbia University

"More than two centuries after Adam Smith linked the extent the market to the wealth of nations, Gene Grossman and Elhanan Helpman have developed the kind of coherent theoretical framework that previous discussions of trade, growth, development, and innovation have lacked. Any economist who wants to work on these timeless (and timely) issues should study this book."--Paul M. Romer, University California, Berkeley

" A pathbreaking contribution by two of the smartest economists at the frontier of trade theory today." -- Jagdish Bhagwati, Columbia University

" More than two centuries after Adam Smith linked the extent the market to the wealth of nations, Gene Grossman and Elhanan Helpman have developed the kind of coherent theoretical framework that previous discussions of trade, growth, development, and innovation have lacked. Any economist who wants to work on these timeless (and timely) issues should study this book." -- Paul M. Romer, University California, Berkeley

" A pathbreaking contribution by two of the smartest economists at the frontier of trade theory today." -- Jagdish Bhagwati, Columbia University

" More than two centuries after Adam Smith linked the extent the market to the wealth of nations, Gene Grossman and Elhanan Helpman have developed the kind of coherent theoretical framework that previous discussions of trade, growth, development, and innovation have lacked. Any economist who wants to work on these timeless (and timely) issues should study this book." -- Paul M. Romer, University California, Berkeley

-- Jagdish Bhagwati, Columbia University

-- Paul M. Romer, University California, Berkeley

About the Author

Gene M. Grossman is Jacob Viner Professor of International Economics and Director of the International Economics Section at Princeton University.

Elhanan Helpman is Professor of Economics at Harvard University, the Archie Sherman Chair Professor of International Economic Relations in the Eitan Berglas School of Economics at Tel-Aviv University, and a Fellow at the Canadian Institute for Advanced Research.