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The Quest for Development

Author

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  • Areendam Chanda
  • Louis Putterman

Abstract

It may be no coincidence that those countries that grew most rapidly in the late twentieth century—including South Korea, China, and, of late, India—were relatively developed civilizations when Western Europe began its overseas expansion five centuries ago. In this article the authors explore the literature showing that institutions matter to growth, then examine new evidence that the ‘social capability' to achieve growth is a function of capacities that go beyond the formal education system. Remarkably, a long history of nationhood at the time of Columbus means better odds of growth today.

Suggested Citation

  • Areendam Chanda & Louis Putterman, 2004. "The Quest for Development," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 5(2), pages 1-31, April.
    • Handle: RePEc:wej:wldecn:170
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    File URL: https://www.worldeconomics.com/Journal/Papers/Article.details?ID=170
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    Citations

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    Cited by:

    1. Areendam Chanda & Beatrice Farkas, 2009. "Technology-Skill Complementarity and International TFP Differences," DEGIT Conference Papers c014_028, DEGIT, Dynamics, Economic Growth, and International Trade.
    2. Areendam Chanda & Louis Putterman, 2007. "Early Starts, Reversals and Catch‐up in the Process of Economic Development," Scandinavian Journal of Economics, Wiley Blackwell, vol. 109(2), pages 387-413, June.
    3. Ang, James B. & Fredriksson, Per G., 2018. "State history, legal adaptability and financial development," Journal of Banking & Finance, Elsevier, vol. 89(C), pages 169-191.
    4. Louis Putterman, 2008. "Agriculture, Diffusion and Development: Ripple Effects of the Neolithic Revolution," Economica, London School of Economics and Political Science, vol. 75(300), pages 729-748, November.
    5. Foa, R., 2012. "The Role of Social Institutions in Determining Aid Effectiveness," ISD Working Paper Series 2012-02, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    6. Seelos, Christian & Mair, Johanna, 2005. "Sustainable development: How social entrepreneurs make it happen," IESE Research Papers D/611, IESE Business School.
    7. Seim, Anna Larsson & Parente, Stephen L., 2013. "Democracy as a middle ground: A unified theory of development and political regimes," European Economic Review, Elsevier, vol. 64(C), pages 35-56.

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