The Process of Economic Change

Douglass North

Research Paper from World Institute for Development Economics Research

Abstract: A good deal is known about what makes for successful economic development, but very little is known about how to get there - that entails an understanding of the process of economic change. The paper fist examines the sources of successful growth and then explores the process of dynamic change of economies. As to sources of growth, three fundamental factors are discussed : basic economic determinants, the institutional framework and the cultural heritage of society.

Keywords: ECONOMIC GROWTH; ECONOMIC DEVELOPMENT (search for similar items in EconPapers)
JEL-codes: O10 O40 (search for similar items in EconPapers)
Pages: 16 pages
Date: 1997
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Citations: View citations in EconPapers (18)

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