EconPapers    
Economics at your fingertips  
 

Growth Strategies

Dani Rodrik ()

No 10050, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This is an attempt to derive broad, strategic lessons from the diverse experience with economic growth in last fifty years. The paper revolves around two key arguments. One is that neoclassical economic analysis is a lot more flexible than its practitioners in the policy domain have generally given it credit. In particular, first-order economic principles protection of property rights, market-based competition, appropriate incentives, sound money, and so on do not map into unique policy packages. Reformers have substantial room for creatively packaging these principles into institutional designs that are sensitive to local opportunities and constraints. Successful countries are those that have used this room wisely. The second argument is that igniting economic growth and sustaining it are somewhat different enterprises. The former generally requires a limited range of (often unconventional) reforms that need not overly tax the institutional capacity of the economy. The latter challenge is in many ways harder, as it requires constructing over the longer term a sound institutional underpinning to endow the economy with resilience to shocks and maintain productive dynamism. Ignoring the distinction between these two tasks leaves reformers saddled with impossibly ambitious, undifferentiated, and impractical policy agendas.

JEL-codes: O1 O4 (search for similar items in EconPapers)
Date: 2003-10
New Economics Papers: this item is included in nep-dev, nep-ent, nep-his and nep-hpe
Note: EFG IFM ITI
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (70) Track citations by RSS feed

Published as Rodrik, Dani, 2005. "Growth Strategies," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 14, pages 967-1014 Elsevier.

Downloads: (external link)
http://www.nber.org/papers/w10050.pdf (application/pdf)

Related works:
Chapter: Growth Strategies (2005) Downloads
Working Paper: Growth Strategies (2003) Downloads
Working Paper: Growth Strategies (2003) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:10050

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w10050

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().

 
Page updated 2021-11-25
Handle: RePEc:nbr:nberwo:10050