2019 (16), №4

Economic Growth and the Factor of Creative Destruction



For citation: 

Ilyukhin, A. A., Ponomareva, S. I., & Ilyukhina, S. V. (2019). Economic Growth and the Factor of Creative Destruction. Zhurnal ekonomicheskoj Teorii [Russian Journal of Economic Theory], 16(4), 630-639


The article is devoted to the study of the creative destruction factor in theories of economic growth. The study is particularly aimed at investigating the factor of creative destruction in the theory of endogenous growth and determining the practical forms of its application in economic policy. The following tasks were solved: the factor of creative destruction and its action mechanism in the theories of endogenous growth were determined; an interpretation of creative destruction in the context of a new growth model formation was considered; the influence of the factor of creative destruction on the aggregate factor productivity of labour and the GDP dynamics was examined; the possibilities of the practical use of endogenous growth theories and creative destruction in the formation of the economic growth policy in Russia were investigated. The work was based on the hypothesis of economic growth theory considering the destruction factor as the basis for the formation of an economic environment capable of providing a new quality of economic growth. The following general scientific and statistical methods of research were used: comparison method, system analysis, systematisation of information and expert estimates, study of analytical indicators of time series, analysis of the average number of employees for a full range of organisations, method of average absolute growth both by extreme points and the average values of economically active population. The theoretical and methodological foundations of the interpretation of economic growth theories, sustainable development, the creative destruction factor in endogenous economic growth theories were considered. The ambivalence of the «rationality» concept adopted by economic science was noted. The factors of economic policy that initiate and support growth and in a given country were analysed with the theoretical justification for this approach by the theory of creative destruction. Three types of economic and institutional constraints (factors) hampering the launch of the creative destruction process in the Russian economy were considered. Studied from the point of view of rationality in the distribution of economically active population, the factor of limited and structural imbalances of labour resources served as the basis for the development of methodological approaches to study the forecast dynamics of economically active population. It is concluded that the factor of creative destruction has not so far found application for solving the problem of economic growth in Russia. However, its proper implementation can ensure a fundamentally new quality of economic growth known as sustainable development. The directions for further research were specified, including the development of measures to upgrade fixed assets and increase investment demand, as well as the optimisation of employment in the economy and increasing the productivity of social labour.

PDF full
Downloaded: 34

Alexey Alexandrovich Ilyukhin — PhD in Economics, Associate Professor, Department of Political Economy, Ural State University of Economics (Ekaterinburg, Russian Federation; e-mail: iluhiaa@usue.ru).

Svetlana Ivanovna Ponomareva — PhD in Economics, Associate Professor, Ural State University of Economics (Ekaterinburg, Russian Federation; e-mail: PonomarevaSI@e1.ru).

Svetlana Viktorovna Ilyukhina — PhD in Economics, Associate Professor, Department of Information Technology and Statistics, Ural State University of Economics (Ekaterinburg, Russian Federation; e-mail: iluhisv@usue.ru).

Voskoboynikov, I., & Gimpel’son, V. (2015). Rost proizvoditel’nosti truda, strukturnye sdvigi i neformal’naya zanyatost’ v rossiyskoy ekonomike [Productivity Growth, Structural Change and Informality: The Case of Russia]. Voprosy ekonomiki [Voprosy Ekonomiki], 11, 30–61. DOI: 10.32609/0042–8736–2015–11–30–61. (In Russ.)

Drobyshevskiy, S., & Kazakova, M. (2016). Dekompozitsiya tempov rosta VVP v 2016–2019 gg. [Decomposition of GDP Growth Rates in 2016–2019]. Ekonomicheskoe razvitie Rossii [Russian economic developments], 6, 3–7. DOI: 10.32609/0042–8736–2018–9-5–31. (In Russ.)

Drobyshevskiy, S. M., Trunin, P. V., & Bozhechkova, A. V. (2018). Dolgovremennaya stagnatsiya v sovremennom mire [Secular stagnation in the modern world]. Voprosy ekonomiki [Voprosy Ekonomiki], 8, 125–141. DOI: 10.32609/0042–8736–2018–11–125–141. (In Russ.)

Zamulin, O. A., & Sonin, K. I. (2019). Ekonomicheskiy rost: Nobelevskaya premiya 2018 goda [Economic growth: Nobel prize in economic sciences 2018 and the lessons for Russia]. Voprosy ekonomiki [Voprosy Ekonomiki], 1, 11–36. DOI: 10.32609/0042–8736–2019–1-11–36. (In Russ.)

Idrisov, G., & Sinel’nikov — Murylev, S. (2014). Formirovanie predposylok dolgosrochnogo rosta: kak ikh ponimat’? [Forming Sources of Long-run Growth: How to Understand Them?]. Voprosy ekonomiki [Voprosy Ekonomiki], 3, 4–18. DOI: 10.32609/0042–8736–2014–3-4–20. (In Russ.)

Ilyukhin, A. A., & Ilyukhina, S. V. (2018). Aktual’nost’ analiza faktorov ekonomicheskogo rosta na osnove tablits «zatraty

— vypusk» [The Relevance of the Economic Growth Analysis Based on the Input-Output Tables]. Zhurnal ekonomicheskoy teorii [The Russian Journal of the Economic Theory], 15(4), 569–578. DOI: 10.31063/2073–6517/2018.15–4.3. (In Russ.)

Ilyukhin, A. A., Ponomareva, S. I., & Ilyukhina, S. V. (2019). Printsip ratsional’nosti v povedencheskoy ekonomike [Principle of Rationality in Behavioural Economics]. Zhurnal ekonomicheskoy teorii [The Russian Journal of the Economic Theory], 16(2), 214–224. DOI: 10.31063/2073–6517/2019.16–2.4. (In Russ.)

Ilyukhin, A. A., Ponomareva, & S. I., Ilyukhina, S. V. (2017). Makroekonomicheskiy analiz prognoza byudzheta Sverdlovskoy oblasti v usloviyakh rosta rossiyskoy ekonomiki [Macroeconomic Analysis of Sverdlovsk Oblast Budget Forecast in the Con-text of Economic Growth in Russia]. Upravlenets [Upravlenets — The Manager], 6, 72–79. (In Russ.)

Katukov, D. D., Malygin, V. E., & Smorodinskaya, N. V. (2019). Faktor sozidatel’nogo razrusheniya v sovremennykh modelyakh i politike ekonomicheskogo rosta [The factor of creative destruction in modern economic growth models and growth policy]. Voprosy ekonomiki [Voprosy Ekonomiki], 7, 95–118. DOI: 10.32609/0042–8736–2019–7-95–118. (In Russ.)

Mau, V. A. (2019). Natsional’nye tseli i model’ ekonomicheskogo rosta: novoe v sotsial’no-ekonomicheskoy politike Rossii v 2018–2019 gg. [National goals and model of economic growth: New in the Russian socio-economic policy of 2018–2019]. Voprosy ekonomiki [Voprosy Ekonomiki], 3, 5–28. DOI: 10.32609/0042–8736–2019–3-5–28. (In Russ.)

Medvedev, D. (2018). Rossiya-2024: Strategiya sotsial’no-ekonomicheskogo razvitiya [Russia-2024: the strategy of social and economic development]. Voprosy ekonomiki [Voprosy Ekonomiki], 10, 5–28. DOI: 10.32609/0042–8736–2018–10–5-28. (In Russ.)

Mironov, V. V. (2019). O diagnostike tekushchego sostoyaniya rossiyskoy ekonomiki i srednesrochnykh perspektivakh ee rosta [On the diagnostics of the current state of the Russian economy and its medium-term growth prospects]. Voprosy ekonomiki [Voprosy Ekonomiki], 2, 5–35. DOI: 10.32609/0042–8736–2019–2-5–35. (In Russ.)

Mironov, V. V., & Konovalova, L. D. (2019). O vzaimosvyazi strukturnykh izmeneniy s ekonomicheskogo rosta v mirovoy ekonomike i Rossii [On the relationship of structural changes and economic growth in the world economy and Russia]. Voprosy ekonomiki [Voprosy Ekonomiki], 1, 54–78. DOI: 10.32609/0042–8736–2019–1-54–78. (In Russ.)

Orlova, N., & Egiev, S. (2015). Strukturnye faktory zamedleniya rosta rossiyskoy ekonomiki [Structural Factors of Russian Economic Slowdown]. Voprosy ekonomiki [Voprosy Ekonomiki], 12, 69–84. DOI: 10.32609/0042–8736–2015–12– 69–84. (In Russ.)

Orlova, N. V., & Lavrova, N. A. (2019). Potentsial’nyy rost kak otrazhenie perspektiv rossiyskoy ekonomiki [Potential out- put as a reflection of Russian economy perspectives]. Voprosy ekonomiki [Voprosy Ekonomiki], 4, 5–20. DOI: 10.32609/0042– 8736–2019–4-5–20. (In Russ.)

Surnina, N. M., Ilyukhin, A. A., & Ilyukhina, S. V. (2017). Demograficheskiy landshaft regiona: faktory, dinamika, tendentsii, prognozy [Demographic Landscape of the Region: Drivers, Dynamics, Trends, Forecasts]. Izvestiya Ural’skogo gosudarstvennogo ekonomicheskogo universiteta [Journal of New Economy], 4(72), 32–44. DOI: 10.29141/2073–1019–2017– 16–4-3. (In Russ.)

Schumpeter, J. A. (1942). Capitalism, socialism, and democracy. New York: Harper & Brothers.

Aghion, P., & Howitt, P. A. (1992). Model of growth through creative destruction. Econometrica, 60(2), 323–351. Grossman, G. M., & Helpman, E. (1991). Innovation and growth in the global economy. Cambridge, MA: MIT Press, 359.

Solow, R. M. (1956). A contribution to the theory of economic growth. Quarterly Journal of Economics, 98(5), 65–94.

Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5), 2, 71–102.

Meadows, D. H., Randers, J., Meadows, D. L., & Behrens W. W. (1972). The Limits to Growth: A Report for the Club of Rome’s Project on the Predicament of Mankind, 1. Universe Books, 211.

Meadows, D. H., Meadows, D. L., Randers, J., & Behrens, W. W. (1972). The limits to growth. New York: Universe Books, 203.

Meadows, D. H., Randers, J., Meadows, D. L. (2004). The Limits to Growth: The 30-year Update. London: Revised, 362.

Porter, M. E. (1998). The Competitive Advantage of Nations: With a new Introduction. New York: Free Press, 896.