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The Politicization of Growth Theory

  • Hibbs Jr, Douglas A.

    (Department of Economics, School of Economics and Commercial Law, Göteborg University)

In this essay I review the main features of neoclassical growth theory, with an eye to seeing what it has to say about the causes of wealth and poverty among nations. I argue that outside the OECD and a comparatively small circle of other countries, neoclassical models contribute little to identifying the deeper sources of cross-national patterns in growth and productivity. I then discuss recent advances in the empirical analysis of economic performance that feature the influence of politics, policy and institutional arrangements on entrepreneurship, innovation, investment and the efficiency with which factor inputs are transformed to output.

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File URL: http://swopec.hhs.se/gunwpe/papers/gunwpe0037.pdf
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Paper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 37.

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Length: 23 pages
Date of creation: 21 Mar 2001
Date of revision:
Publication status: Published in Kyklos, 2001, pages 265-286.
Handle: RePEc:hhs:gunwpe:0037
Contact details of provider: Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/

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