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Institutions And Productivity In History

Author

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  • Douglass C. North

    (Washington University)

Abstract

The argument of this essay is that productivity increases result from both improvements in human organization and from technological developments. Indeed it is probably true that the former is as important as the latter in economic growth. In the following sections I first lay out the theoretical justification for this arguement (I), then explore some of the key institutional changes in history that have laid the foundation for modern economic growth (II), explore the interplay between institutional and technological changes in the past 150 years,the era of the 2nd economic revolution (III), discuss the institutional and transaction cost changes that have characterized that revolution (IV) and conclude with some implications and questions that this analysis poses for future productivity change and economic growth (V).

Suggested Citation

  • Douglass C. North, 1994. "Institutions And Productivity In History," Economic History 9411003, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpeh:9411003
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    Cited by:

    1. Raquel Fonseca & Natalia Utrero, 2005. "Financial Development, Labor and Market Regulations and Growth," Documents de recherche 05-05, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    2. Kathuria, Vinish & Seethamma Natarajan, Rajesh Raj & Sen, Kunal, 2010. "State business relations and manufacturing productivity growth in India," MPRA Paper 20314, University Library of Munich, Germany.
    3. Porta, Pier Luigi & Scazzieri, Roberto, 1997. "Towards an economic theory of international civil society: Trust, trade and open government," Structural Change and Economic Dynamics, Elsevier, vol. 8(1), pages 5-28, March.

    More about this item

    JEL classification:

    • N - Economic History

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