Premium
Politics and Economic Growth
Author(s) -
Lane JanErik,
Ersson Svante
Publication year - 1987
Publication title -
scandinavian political studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.65
H-Index - 41
eISSN - 1467-9477
pISSN - 0080-6757
DOI - 10.1111/j.1467-9477.1987.tb00057.x
Subject(s) - politics , economics , human capital , economic system , investment (military) , economic expansion , capital (architecture) , capital accumulation , development economics , political science , economic growth , macroeconomics , history , archaeology , law
Traditional growth theory viewed economic growth as a resultant of economic factors, in particular capital investment. Development economics implied a broader approach, emphasizing social structure change and human capital. Finally, it was also hinted that political factors could influence the rate of change in the development of the economic system. Testing various theories of economic growth we find that institutional sclerosis is the basic political factor that is related to the process of economic growth. The next step is to analyse how political structures and public policy have an impact on the basic factor in economic growth, viz. investments.