The Politicization of Growth Theory

Douglas Hibbs ()

No 37, Working Papers in Economics from University of Gothenburg, Department of Economics

Abstract: In this essay I review the main features of neoclassical growth theory, with an eye to seeing what it has to say about the causes of wealth and poverty among nations. I argue that outside the OECD and a comparatively small circle of other countries, neoclassical models contribute little to identifying the deeper sources of cross-national patterns in growth and productivity. I then discuss recent advances in the empirical analysis of economic performance that feature the influence of politics, policy and institutional arrangements on entrepreneurship, innovation, investment and the efficiency with which factor inputs are transformed to output.

Keywords: neoclasssical growth theory; institutions and economic development and growth; politics and economic development and growth (search for similar items in EconPapers)
JEL-codes: O40 O57 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2001-03-21
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published in Kyklos, 2001, pages 265-286.

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