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A Review of the Recent Literature on the Institutional Economics Analysis of the Long-Run Performance of Nations

Listed author(s):
  • Peter Lloyd

    ()

    (University of Melbourne)

  • Cassey Lee

    (ISEAS – Yusof Ishak Institute, Singapore)

Registered author(s):

    This paper reviews the recent (post-2000) literature which assesses the importance of institutions as a factor determining cross-country differences in growth rates or in the contemporary level of “prosperity”. It first sketches how institutional economics has evolved. It then examines critically the methods of analysis employed in the recent literature. The paper finds that this literature has made a major contribution to the analysis of the causes of economic growth but the relative importance of institutions as a determinant of long-run growth and prosperity is still a wide open question.

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    File URL: http://fbe.unimelb.edu.au/__data/assets/pdf_file/0007/1889503/2019PeterLloydEcoAnalysisOfTheLongRun.pdf
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    Paper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 2019.

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    Length: 33 pages
    Date of creation: Jan 2016
    Handle: RePEc:mlb:wpaper:2019
    Contact details of provider: Postal:
    Department of Economics, The University of Melbourne, 4th Floor, FBE Building, Level 4, 111 Barry Street. Victoria, 3010, Australia

    Phone: +61 3 8344 8560
    Fax: +61 3 8344 6899
    Web page: http://fbe.unimelb.edu.au/economics
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