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.
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Paper provided by Göteborg University, Department of Economics in its series Working Papers in Economics with number
37.
Length: 23 pages Date of creation: 21 Mar 2001 Date of revision: Publication status: Published in Kyklos, 2001, pages 265-286. Handle: RePEc:hhs:gunwpe:0037
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Find related papers by JEL classification: O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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