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Institutions, Policies and Growth

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  • Grzegorz W. Kolodko

    () (TIGER - WSPiZ, Warsaw)

Abstract

Institutions are not only created and built, but also — and especially — need to be learnt. It is a process which takes place in all economies, but acquires a special importance in less advanced countries. Not only theoretical arguments, but also the practical experience over the past 15 years demonstrate that faster economic growth — and hence also, more broadly, socio-economic development — is attained by those countries which take greater care to foster the institutional reinforcement of market economy. However, progress in market-economy institution building is not in itself sufficient to ensure sustained growth. Another indispensable component is an appropriately designed and implemented economic policy which must not confuse the means with the aims.

Suggested Citation

  • Grzegorz W. Kolodko, 2004. "Institutions, Policies and Growth," Rivista di Politica Economica, SIPI Spa, vol. 94(3), pages 45-79, May-June.
  • Handle: RePEc:rpo:ripoec:v:94:y:2004:i:3:p:45-79
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    File URL: http://www.rivistapoliticaeconomica.it/2004/mag-giu/Kolodko.pdf
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    References listed on IDEAS

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    1. Anonymous & RAHMAN, MD. HABIBUR & MIAH, MD. TOFAZZAL HOSSAIN & ALI, MRS. RAFIQUNNESSA & Sabur, S. Abdus & HAQUE, MD. ERSHADUL, 2002. "Contents," Bangladesh Journal of Agricultural Economics, Bangladesh Agricultural University, vol. 25(1).
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    More about this item

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

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