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The Power of Market Creation: How Innovation Can Spur Development

Bryan C. Mezue ; Clayton M. Christensen ; Derek van Bever

Foreign affairs (New York, N.Y.), 2015-02-01, Vol.94 (1), p.69-76

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  • Title:
    The Power of Market Creation: How Innovation Can Spur Development
  • Author: Bryan C. Mezue ; Clayton M. Christensen ; Derek van Bever
  • Subjects: SCHUMPETER'S HEIRS ; Studies ; Entrepreneurship ; Experiment/theoretical treatment ; Innovations ; 9180 ; Economic development ; International ; 9130 ; Business creativity ; Economic aspects ; United States ; Analysis
  • Is Part Of: Foreign affairs (New York, N.Y.), 2015-02-01, Vol.94 (1), p.69-76
  • Description: Most explanations of economic growth focus on conditions or incentives at the global or national level. They correlate prosperity with factors such as geography, demography, natural resources, political development, national culture, or official policy choices. In their research on growth the authors have taken the opposite approach, working not from the top down but from the bottom up, adopting the perspective of the firm and the manager. From this vantage point, they have learned that different types of innovation have radically different effects on economic and employment growth. This insight gives entrepreneurs, policymakers, and investors the ability to collaborate as never before to create the conditions most likely to unlock sustained prosperity, particularly in the developing world. They argue that there exists a well-established model of company-level investment and innovation that leads to transformative economic development and national prosperity, has been remarkably consistent at explaining past successes, and can provide direction to stakeholders in what to look for and what to build in the future.
  • Publisher: Council on Foreign Relations
  • Language: English
  • Identifier: ISSN: 0015-7120
    EISSN: 2327-7793

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