The Process of Economic Change

Douglass North

No wp-1997-128, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

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 first 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. The main force underlying dynamic economic change is the continuous interaction between institutions and organizations.

Keywords: Economic development; Economic growth; Institutional economics; Technological innovations; Research (Technological innovations) (search for similar items in EconPapers)
Date: 1997
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Citations: View citations in EconPapers (7)

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Related works:
Working Paper: The Process of Economic Change (1997)
Working Paper: The Process of Economic Change
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