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Institution, Institutional Change, and Economic Growth

In: Developing Property Rights Theory

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  • Shaoan Huang

    (Shandong University)

Abstract

The role of institutions in influencing economic growth has been increasingly recognized. Two countries with identical natural resources and cultural backgrounds, such as the post-WWII Germany Democratic Republic and the Federal Republic of Germany, would achieve different growth performances due to different institutions. Countries with good institutions enjoy sustained growth and wealth accumulation, while those unfortunate enough to have bad institutions cannot extricate themselves from poverty and famine.

Suggested Citation

  • Shaoan Huang, 2023. "Institution, Institutional Change, and Economic Growth," Springer Books, in: Developing Property Rights Theory, chapter 0, pages 75-118, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-0883-7_4
    DOI: 10.1007/978-981-99-0883-7_4
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