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The Politicization of Growth Theory
Author(s) -
Hibbs, Jr. Douglas A.
Publication year - 2001
Publication title -
kyklos
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.766
H-Index - 58
eISSN - 1467-6435
pISSN - 0023-5962
DOI - 10.1111/1467-6435.00153
Subject(s) - citation , library science , sociology , computer science
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.