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000047902 022__ $$a0960-6491 (Print)$$a1464-3650 (Online)
000047902 040__ $$aSzGeWIPO$$beng$$erda$$cSzGeWIPO
000047902 041__ $$aeng
000047902 24500 $$aToward a dynamic capability theory of economic growth
000047902 264_1 $$aOxford, UK :$$bOxford University Press,$$c2020.
000047902 336__ $$atext$$2rdacontent
000047902 337__ $$acomputer$$2rdamedia
000047902 338__ $$aonline resource$$bcr$$2rdacarrier
000047902 4901_ $$aIndustrial and Corporate Change$$vVolume 29, Issue 4
000047902 5203_ $$aNew theories of economic growth that are policy-relevant and connect with the histories of success and failure in economic development are urgently needed. This article compares the neoclassical (or market efficiency) school of thought with the production-capability school of thought which included Alexander Hamilton, Friedrich List, and Joseph Schumpeter. Many affirmative, industrial policy steps by governments to promote economic development have been historically recorded—including in the UK and the United States. Meanwhile the neoclassical school has ignored the role of government in helping to create competitive advantage. It has also chosen to ignore how firms are formed, how technologies are acquired, and how industries emerge. The dynamic capability theory of economic growth developed here assigns the central role in economic growth to firms but also an important role to governments. The rate at which a country’s economy grows depends critically on whether its firms can build the capabilities to generate and take advantage of “windows of opportunity” that exist for innovation and new markets, and whether over time they are able to enhance their capabilities to move into higher value-added activities.1
000047902 542__ $$fhttps://academic.oup.com/pages/using-the-content/citation
000047902 590__ $$aPublished online: 2020
000047902 650_0 $$aIndustrial policy
000047902 650_0 $$aIntellectual property
000047902 7001_ $$aSainsbury, David,$$vauthor.
000047902 7731_ $$tIndustrial and Corporate Change,$$wINCC
000047902 830_0 $$aIndustrial and Corporate Change$$vINCC 2020, 29(4),  1047-1065
000047902 85641 $$uhttps://doi.org/10.1093/icc/dtz054$$yRead the Article
000047902 904__ $$aJournal article
000047902 980__ $$aINCC