The Quest for Growth: Theoretical and Empirical Findings and the Rise of a Bottom-up Approach to Sustainable Development

Leonardo Becchetti and Giuseppe Mastromatteo

Economia Internazionale / International Economics, 2006, vol. 59, issue 4, 437-466

Abstract: Economic growth remains a fundamental component of broader socioeconomic development indicators, which are increasingly taken as a reference target by domestic policymakers and international institutions. The recent theoretical and empirical literature emphasizes how institutional quality, access to education, new ICT technologies and credit are fundamental determinants of growth, given their crucial role in transforming talents into socioeconomic outcomes in spite of the inequality in initial conditions and the existence of individual fi nancial resource constraints. In this framework a novel and promising fi eld of research on growth determinants is that of the microeconomic actions (microfi nance, socially responsible consumption) which promote inclusion of the poor and remove barriers to access to credit. Such actions, by involving directly the civil society as a new fundamental actor of economic development, also represent a step forward in economic participation and democracy, in which society stimulates corporate social responsibility and complements the action of institutions and corporations toward the goal of sustainable development.

Keywords: Growth; Social Responsibility; Sustainable Development (search for similar items in EconPapers)
JEL-codes: O43 O47 (search for similar items in EconPapers)
Date: 2006
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