On Economic Growth and Development
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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|Date of creation:||2006|
|Publication status:||Published in Review of Austrian Economics, vol. 19, pages 243-260.|
|Contact details of provider:|| Postal: Clos Guiot Puyricard - CS 30063, 13089 Aix en Provence Cedex 2|
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