Institutions, Policies and Growth

Grzegorz W. Kolodko ()
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Grzegorz W. Kolodko: TIGER - WSPiZ, Warsaw

Rivista di Politica Economica, 2004, vol. 94, issue 3, 45-79

Abstract: Institutions are not only created and built, but also — and especially — need to be learnt. It is a process which takes place in all economies, but acquires a special importance in less advanced countries. Not only theoretical arguments, but also the practical experience over the past 15 years demonstrate that faster economic growth — and hence also, more broadly, socio-economic development — is attained by those countries which take greater care to foster the institutional reinforcement of market economy. However, progress in market-economy institution building is not in itself sufficient to ensure sustained growth. Another indispensable component is an appropriately designed and implemented economic policy which must not confuse the means with the aims.

JEL-codes: A11 E6 F02 F43 H11 I38 N1 O17 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:v:94:y:2004:i:3:p:45-79

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