On economic growth and development

E. Colombatto ()

The Review of Austrian Economics, 2006, vol. 19, issue 4, pages 243-260

Abstract: The paper offers a subjectivist approach to economic growth and an institutional view of development. In particular, the term development regards the prevailing rules of the game and their effects on the key variables for economic activity to take off: property rights and productive entrepreneurship. And growth is deemed to be the result of favourable institutional environments where chances are exploited and individuals succeed in improving their living conditions. Methodological and normative investigation questions the validity of the recent and increasing literature on institutional design, where institutional economics actually plays only a modest role. Copyright Springer Science + Business Media, LLC 2006

Keywords: Growth; Development; Institutional economics (search for similar items in EconPapers)

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