Three US Professors Win Nobel Prize for Research on Innovation and Growth

The Nobel Prize in Economic Sciences honors their work on the link between technological innovation and economic expansion.

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Terms & Concepts
  • Economic Growth: The increase in a nation’s production of goods and services over time, often measured by GDP.
  • Technological Innovation: The process of developing new technologies or improving existing ones to enhance productivity and efficiency.
  • Nobel Prize in Economic Sciences: An annual award recognizing significant contributions to the field of economics, established by the Swedish central bank in memory of Alfred Nobel.