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On Economic Growth and Development

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  • Enrico Colombatto

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    (Facoltà di Economia, Università di Torino)

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    Abstract

    The paper offers a subjectivist approach to economic growth and an institutional view of development. In particular, the term development regards the prevailing rules of the game and their effects on the key variables for economic activity to take off: property rights and productive entrepreneurship. And growth is deemed to be the result of favourable institutional environments where chances are exploited and individuals succeed in improving their living conditions. Methodological and normative investifation questions the validity of the recent and increasing literature on institution design, where institution economics actually plays only a modest role.

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    Bibliographic Info

    Paper provided by Aix-Marseille Université, CERGAM in its series CAE Working Papers with number 38.

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    Length: 18 pages
    Date of creation: 2006
    Date of revision:
    Publication status: Published in Review of Austrian Economics, vol. 19, pages 243-260.
    Handle: RePEc:cgm:wpaper:38

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    Related research

    Keywords: Growth; Development; Institutional economics;

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    Cited by:
    1. Alexander Cotte, Poveda, 2011. "Economic development and growth in Colombia: An empirical analysis with super-efficiency DEA and panel data models," Socio-Economic Planning Sciences, Elsevier, vol. 45(4), pages 154-164, December.
    2. Nikolay Nenovsky & Gergana Mihaylova, 2007. "Dynamics of the Financial Wealth of the Institutional Sectors in Bulgaria for the Period 1990 – 2005," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 72-92.

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