Authors
- Associated content
- Press Release
- Citation
- “ World Bank . 2024 . World Development Report 2024: The Middle-Income Trap . © Washington, DC: World Bank . http://hdl.handle.net/10986/41919 License: CC BY 3.0 IGO . ”
- Collection(s)
- World Development Report
- DOI
- http://dx.doi.org/10.1596/978-1-4648-2078-6
- ISBN
- 978-1-4648-2078-6
- ISSN
- 0163-5085
- Pages
- 26
- Published in
- United States of America
- Rights
- CC BY 3.0 IGO
- Rights Holder
- World Bank
- Rights URI
- https://creativecommons.org/licenses/by/3.0/igo/
- UNIT
- DECWD
- URI
- https://hdl.handle.net/10986/41919
- date disclosure
- 2024-08-01
- region geographical
- World
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Table of Contents
- Joseph Schumpeter and creative destruction 2
- References 3
- Key messages 5
- Creation The protagonist of economic growth where incumbents create value alongside entrants 5
- Creative destruction Three decades of increasingly refined analysis 8
- A first look Entrants create value 8
- A recent view Incumbents also create value 9
- A more nuanced view of incumbents Incumbents power can drive or suppress creation 10
- In middle-income countries too few small entrants disrupt and too few large incumbents innovate or infuse global technologies 11
- Vibrant corporate RD connected places mobile people and successful markets for patents How the United States nurtured an innovation ecosystem 13
- Vibrant corporate RD connected places mobile people and successful markets for patents How the United States nurtured an innovation ecosystem 14
- How governments stifle firms incentives to grow infuse global technologies and innovate 16
- Outdated rules of thumb stifle progress 16
- Examples of size-dependent policies 17
- Examples of size-dependent policies 18
- Examples of size-dependent policies 19
- The productivity effects of credit misallocation and capital market underdevelopment 20
- The productivity effects of credit misallocation and capital market underdevelopment 21
- Benefits extended to state-owned enterprises hurt private enterprise 22
- Preferences for incumbents block progress 23
- Modernizing data and diagnostic tools to understand and regulate creative destructionfrom X-rays to MRIs 24
- Notes 26
- References 26