Growth Theory and Economic History: A Staple Perspective

Morris Altman ()

Chapter Chapter 2 in Lessons from a Successfully Export-Oriented, Resource-Rich Economy, 2022, pp 23-56 from Springer

Abstract: Abstract The staple theory is a subset of the export-led growth hypothesis, designed to explain the growth and economic development of resource rich economies. It is a theory that has been misunderstood and is seen to be at odds with the stylized facts of economic growth and development as well as with mainstream neoclassical wisdom. This chapter presents a brief and critical historiography of the staple theory and its critiques from which a simple model of staple growth and development is developed. Of critical importance, staple theory emphasizes importance of internal factors being appropriately developed and fostered for staple exports to be a driving force in the growth process. Data are also presented which suggest that the staple theory remains an important holistic analytical tool to help explain issues of economic development and growth.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-03887-7_2

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DOI: 10.1007/978-3-031-03887-7_2

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