IDEAS home Printed from
   My bibliography  Save this paper

Эволюционная Теория Экономической Политики: Часть Ii: Необходимость Своевременного Переключения
[The Evolutionary Theory of Economic Policy: Part II: The Necessity of Timely Switching]


  • Polterovich, Victor
  • Popov, Vladimir


This is the second part of the work on how economic policy of a developing country should change as it approaches the level of developed economies in terms of welfare (GDP per capita) and the quality of institutions. We focus on the impact of several policies to promote the catch up development: the speed of foreign exchange reserves accumulation ("exchange rate protectionism"); import tariffs; measures to attract foreign direct investment; import of technology versus indigenous R&D; regulation of migration and measures to support large versus small enterprises. The econometric analysis of the data on over 200 countries in 1975—1999 shows that the impact of these policies may be positive or negative depending on a stage of development; in each case we find threshold levels or critical combinations of GDP per capita and/or an institutional quality indicator. Thus, there is additional evidence to support the conclusions made in the first part of the article and based on the analysis of the evolution of economic policies in the Western countries and in the countries of successful catch up development ("economic miracles").

Suggested Citation

  • Polterovich, Victor & Popov, Vladimir, 2006. "Эволюционная Теория Экономической Политики: Часть Ii: Необходимость Своевременного Переключения
    [The Evolutionary Theory of Economic Policy: Part II: The Necessity of Timely Switching]
    ," MPRA Paper 22170, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:22170

    Download full text from publisher

    File URL:
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    1. Jeffrey G. Williamson, 2002. "Winners and Losers Over Two Centuries of Globalization," NBER Working Papers 9161, National Bureau of Economic Research, Inc.
    2. R. M. Auty, 1997. "Competitive industrial policy and macro performance: Has South Korea outperformed Taiwan?," Journal of Development Studies, Taylor & Francis Journals, vol. 33(4), pages 445-463.
    3. Wellisch, Dietmar & Walz, Uwe, 1998. "Why do rich countries prefer free trade over free migration? The role of the modern welfare state," European Economic Review, Elsevier, vol. 42(8), pages 1595-1612, September.
    4. Polterovich, Victor & Popov, Vladimir, 2003. "Accumulation of Foreign Exchange Reserves and Long Term Growth," MPRA Paper 20069, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Zaytsev, Alexander, 2015. "Межстрановые Различия В Душевых Ввп И Производительности Труда: Роль Капитала, Уровня Технологий И Природной Ренты
      [International differences in per capita GDP and labor productivity: role of capit
      ," MPRA Paper 71606, University Library of Munich, Germany, revised May 2016.

    More about this item


    development; economic growth; institutions; economic miracles;

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:22170. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.