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Institutional Constraints on Modern Economic Growth

Author

Listed:
  • Konstantin Yanovskiy

    (Gaidar Institute for Economic Policy)

  • Sergey Zhavoronkov

    (Gaidar Institute for Economic Policy)

  • Ilia Zatcovetsky

    (Samuel Neaman Institute for Advanced Studies in Science and Technology)

  • Vladimir Lisin

    (Chairman of the board of directors of Novolipetsk Steel Company)

  • Dmitry Cherny

    (Ministry of Economic Development of the Russian Federation Department for Innovative Development)

  • Sergey Shulgin

    (The Russian Presidential Academy of National Economy and Public Administration (RANEPA))

Abstract

How to import modern Western Institutions to suppress economic growth in underdeveloped countries? Russian experience and some warnings for newcoming reformers The monograph «Institutional Constraints on Modern Economic Growth" deals with the most dangerous obstacles standing in the way of long term economic growth. Some of these obstacles have been studied extensively, while others are well known but have been largely forgotten over time; finally, there are some that for various reasons are normally ignored. "I believe that the United States today is not an appropriate model for Mexico or other low-income countries…. There have been no summits about how you privatize governmental activities. You have seen summits about how to raise taxes, about spending more of the taxpayers' money, about how to impose more controls on the people. That is the sense in which I say, take as your model the U.S. in its first 150 years. We can afford our nonsense now because we had so long a period during which to build a base. You can't." wrote Milton Friedman[1] in 1994. The book contains specification of the principal cases of "nonsense". The authors are searching for historic records of "damaged" institutions their roots and causes of the damages, tracking them to universal suffrage rising and to the earlier, pre-capitalist institutions, so that to develop the policy advice for new democracies how to escape all these traps.

Suggested Citation

  • Konstantin Yanovskiy & Sergey Zhavoronkov & Ilia Zatcovetsky & Vladimir Lisin & Dmitry Cherny & Sergey Shulgin, 2015. "Institutional Constraints on Modern Economic Growth," Working Papers 0112, Gaidar Institute for Economic Policy, revised 2015.
  • Handle: RePEc:gai:wpaper:0112
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    File URL: http://www.iep.ru/files/RePEc/gai/wpaper/0112Yanovskiy.pdf
    File Function: Revised version, 2015
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    References listed on IDEAS

    as
    1. Paul H. Rubin, 1994. "The Assault on the First Amendment: Public Choice and Political Correctness," Cato Journal, Cato Journal, Cato Institute, vol. 14(1), pages 23-36, Spring/Su.
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    Cited by:

    1. Leonard, Carol S. & Yanovskiy, Konstantin Ė. & Shestakov, D., 2014. "How Democracy could foster Economic Growth: The Last 200 Years," EconStor Preprints 121852, ZBW - German National Library of Economics.

    More about this item

    Keywords

    private property safeguards; import of institutions; Economic Growth; Government failures; political institutions;

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
    • P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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