Institutions, Development, and Economic Growth
ISBN
978-0262050814
Type
book section
Date Issued
2006
Author(s)
Sunde, Uwe
;
Cervellati, Matteo
Abstract
The determinants of economic growth and development are hotly debated among economists. Financial crises and failed transition experiments have highlighted the fact that functioning institutions are fundamental to the goal of achieving economic growth. The growth literature has seen an abundance of empirical studies on the influence of institutions and the mechanisms by which institutions affect development. This CESifo volume provides a systematic overview of the current scholarship on the impact of institutions on growth. The contributors, all internationally prominent economists, consider theoretical and empirical relationships between institutions and growth. Concepts covered include "appropriate institutions" (the idea that different institutional arrangements are appropriate at different stages of economic development); liberalized credit markets; the influence of institutions on productivity; institutional and regulatory reforms in the OECD; how innovation and entrepreneurship influence growth (including an analysis of patent activity in the United States from 1790 to 1930); the endogeneity of institutions as seen in the recruitment of elites by higher education institutions; the effect of economic development on transitions to democracy; and technology adoption in agriculture.
Language
English
Keywords
Economic development
Economic policy
Social institutions.
HSG Classification
contribution to scientific community
Refereed
No
Book title
Institutions, development, and economic growth
Publisher
MIT Press
Publisher place
Cambridge, MA
Volume
1
Start page
215
End page
248
Pages
34
Subject(s)
Division(s)
Eprints ID
43892