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Economic growth, an evolutionary process that gives rise to an attractor

dc.contributor.authorVillemeur, Alain
dc.date.accessioned2012-06-27T09:42:20Z
dc.date.available2012-06-27T09:42:20Z
dc.date.issued2008
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/9604
dc.language.isoenen
dc.subjectAttractoren
dc.subjectEvolutionary processen
dc.subjectGrowth modelen
dc.subjectMarket economyen
dc.subjectUnited Statesen
dc.subject.ddc338.9en
dc.subject.classificationjelO30en
dc.subject.classificationjelO40en
dc.subject.classificationjelO57en
dc.titleEconomic growth, an evolutionary process that gives rise to an attractoren
dc.typeCommunication / Conférence
dc.description.abstractenEconomic growth is seen here as the outcome of an entrepreneur-driven process of evolution in the context of an economy of competitive markets. In the course of this process the entrepreneurs implement capital and labour factors, one part of them committed to substitution and the other to complementarity with increasing returns. The theory demonstrates that the conditions of equilibrium of the different markets give rise to an attractor made up of steady states. The growth determinants for these states are employment, investment and technical productivity, with the profit share in income always being equal to 1/3. The comparison of what is learned with the empirical reality of the main developed economies demonstrates the interest of this view of growth. The attractors of the United States economy for the period 1960–2000 are given special attention.en
dc.identifier.citationpages21en
dc.description.sponsorshipprivateouien
dc.subject.ddclabelCroissance et développement économiquesen
dc.relation.conftitle12th International Schumpeter Society Conferenceen
dc.relation.confdate2008-07
dc.relation.confcityRio-de-Janeiroen
dc.relation.confcountryBrésilen


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