The neoclassical approach to institutions, institutional change, and economic growth: a critical review
DOI:
https://doi.org/10.18046/recs.i8.1129Keywords:
Institutions, Institutional change, Economic growthAbstract
This paper examines the relationship between institutions and economic growth under the framework offered by the neoclassical theory. The author deals with the hypothesis of economic growth based on the ‘property rights system’ and describes the key theoretical and empirical issues involved, as well as the impact of this perspective on the design and implementation of public policies. Finally, the paper turns its focus to the debate about institutional change and compares difficulties faced by various approaches that attempt to offer explanations with regard to the causes of permanent changes in the trajectory of economic growth of one or another country.Downloads
References
Acemoglu, D. y Robinson, J. A. (2000). Why did the West Extend the Franchise? Democracy , Inequality and Growth in Historical Perspective. Quarterly Journal of Economics, 115 (2), 1167–1200.
Acemoglu, D., Johnson, S. y Robinson, J. A. (2001). The Colonial Origins of Comparative Development: An Empirical Investigation. The American Economic Review, 91, 1369–1401.
Acemoglu, D., Johnson, S. y Robinson, J. A. (2002). Reversal of Fortune: Georgraphy and Institutions in the Making of the Moden World Income Distribution. The Quarterly Journal of Economics, 117, 1231–1294.
Banerjee, A. e Iyer, L. (2002). ''History, Institutions and Economic Performance: The Legacy of Colonial Land Tenure Systems in India''. Tesis de Máster en Economía, Department of Economics, MIT.
Bardhan, P. (2004). ''History, Institutions and Underdevelopment''. Tesis de Máster en Economía, Department of Economics, University of California.
Basu, K. (1983). On Why We Do Not Try To Walk Off Without Paying After a Taxi–Ride. Economic and Political Weekly, 48, 2011–2012.
Beck, T. G., Clarke, G., Groff, A., Keefer, P. y Walsh, P. (2002). New Tools and New Tests in Comparative Political Economy: The Database of Political Institutions. Regulation and Competition Policy. Washington, D.C.: Development Research Group, World Bank.
Bowles, S. (1998). Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions. The Journal of Economic Literature, 36 (1), 75–111.
Chang, H– J. (2006). ''Understanding the Relationship between Institutions and Economic Development. Some Key Theoretical Issues'', UNU Wider Discussion Paper No. 2006/05, Faculty of Economics, University of Cambridge.
Djankov, S., La Porta, R., Lopez–de–Silanes, F. y Shleifer, A. (2002). The Regulation of Entry. Quarterly Journal of Economics, 117 (1), 1–37.
Dollar, D. y Kray, A. (2002). ''Institutions, Trade, and Growth'', paper presentado en la Carnegie– Rochester Conference Series on Public Policy.
Easterly, W. y Levine, R. (2002). ''Tropics, Germs, Crops: How Endowments Influence Economic Development'', Working Paper 9106, National Bureau of Economic Research, Cambridge.
Ellerman, D. (1999). Helping Others to Help Themselves: The Challenge of Autonomy – Compatible Development Assistance, Mimeo, Washington D.C.
Elster, J. (1985). Making Sense of Marx, Cambridge, U.K.: Cambridge University Press.
Etzioni, A. (1988). The Moral Dimension, New York, USA: The Free Press.
Frey, B. (1997). Not Just for the Money – An Economic Theory of Personal Motivation, Cheltenham, U.K.: Edward Elgar.
Galor, O. y Moav, O. (2001). ''Das Human Kapital'', CEPR Discussion Paper Series No. 2701. Obtenido en: http://www.cepr.org/pubs/dps/DP2701.
Hafer, C. (2003). ''On the Origins of Property Rights: Conflict and Production in the State of Nature'', Working Paper, Department of Politics, New York University.
Hirschman, A. O. (1958). The Strategy of Economic Development. New Haven, USA: Yale University Press.
Kindleberger, C. (1952). Review of The Economy of Turkey; The Economic Development of Guatemala; Report on Cuba. Review of Economics and Statistics, 34 (4), 391–392.
Knack, S. y Keefer, P. (1995). ''Institutions and Economic Performance: Cross– Country Tests Using Alternative Institutional Indicators'', MPRA Paper 23118, University Library of Munich, Germany.
Krugman, P. (1991). History versus Expectations. Quarterly Journal of Economics, 105, 651–667.
Kuisel, R. (1981). Capitalism and the State in Modern France. Cambridge, U.K.: Cambridge University Press,.
Levine, R. y Renelt, D. (1992). A Sensitivity Analysis of Cross–Country Growth Regressions. American Economic Review, 82 (4), 942–63.
Lindert, P. H. (2004). Explaining the Rise of Mass Public Schooling. En P. H. Lindert (Ed.) Growing Public: Social Spending and Economic Growth Since the Eighteenth Century, Cambridge and New York: Cambridge University Press, 240–314.
Marx, K. (1993). El Capital (3 vols.). Ciudad de México: Fondo de Cultura Económica.
Mauro, P. (1995). Corruption and Growth. Quarterly Journal of Economics 110, 681–712.
Mill, J. S. (1991). Considerations on Representative Government. Cambridge, U.K.: Cambridge University Press.
Murphy, K. M., Shleifer, A. y Vishny, R. W. (1989). Why is rent seeking so costly to growth? The American Economic Review, 83, 409–414.
North, D. C. (1980). Structure and Change in Economic History, New York, USA: .W. Norton.
North, D. C. (1990). Institutions, Institutional Change and Economic Performance. Cambridge, U.K.: Cambridge University Press.
Przeworski, A. (2004a). The Last Instance: Are Institutions the Primary Cause of Economic Development? European Journal of Sociology, 45(2), 165–188.
Przeworski, A. (2004b). Some Historical, Theoretical, and Methodological Issues in Identifying Effects of Political Institutions, unpublished, New York, USA: New York University.
Rodrik, D. (1999). ''Institutions for High Quality Growth: What They Are and How They Affect Growth'', paper presentado en la International Monetary Fund Conference on Second–Generation Reforms, Washington, D.C.
Rodrik, D., Subramanian, A. y Trebbi, F. (2002). ''Institutions Rule: The Primacy of Institutions over Integration and Geography in Economic Development'', IMF Working Paper, WP/02/189, International Monetary Fund, Washington, D.C.
Rodrik, D. (2004). Getting Institutions Right. Chicago, USA: Mimeo.
Rosenstein–Rodan, P. N. (1943). Problems of Industrialization of Eastern and South–Eastern Europe. Economic Journal, 53, 210–211.
Sachs, J. (2003). ''Institutions Don't Rule: Direct Effects of Geography on Per Capita Income'', NBER Working Paper, No. 9490, February.
Simon, H. (1983). Reasons in Human Behaviour. Oxford, USA: Blackwell.
Sindzingre, A. N. (2003). Institutions and Development: a Theoretical Contribution, Cambridge: Mimeo.
Stigler, G. (1975). The Citizen and the State: Essays on Regulation. Chicago, USA: University of Chicago Press.
Stiglitz, J. E. (1999). ''Quis Custodiet Ipsos Custodes? Corporate Governance Failures in the Transition'', Paris, Francia: CAE and the World Bank, Annual World Bank Conference in Development Economics.
Tanzi, V. (2000). ''The Role of the State and the Quality of the Public Sector'', Working Paper WP/00/36, International Monetary Fund, Washington D. C.
Van Arkadie, B. (1990). ''The Role of Institutions in Development in the World Bank'', Proceedings of the World Bank Annual Conference on Development Economics, Washington D.C.
Williamson, O. E. (2000). The New Institutional Economics: Taking Stock, Looking Ahead. The Journal of Economic Literature, 38 (3), 595–613.
Downloads
Published
Issue
Section
License
Copyright (c) 2011 Cecilia Bermúdez
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
© Reserved Copyright
Material in this publication may be reproduced without authorization, provided the title, author and institutional source is acknowledged.
The content published in Revista CS is distributed under the Creative Commons BY-NC 4.0 Attribution/Recognition-NonCommercial 4.0 International license.
You are free to:
Share — copy and redistribute the material in any medium or format.
Adapt — remix, transform, and build upon the material.
Under the following terms:
Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
NonCommercial — You may not use the material for commercial purposes.