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What Makes an Economy Productive and Progressive? What Are the Needed Institutions?

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  • Richard R. Nelson

Abstract

Institutions again have become the focus of the theorizing and empirical work of economists concerned with the determinants of economic growth, and of cross country differences in income levels. One central argument of this paper is that institutions and institutional change need to be understood as tightly intertwined with the technologies used in an economy, and with technological change. A second argument is that, in general, societies have very limited ability to design institutions that are effective, and that the processes of institutional reform work erratically.

Suggested Citation

  • Richard R. Nelson, 2006. "What Makes an Economy Productive and Progressive? What Are the Needed Institutions?," LEM Papers Series 2006/24, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    • Handle: RePEc:ssa:lemwps:2006/24
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    Cited by:

    1. Paolo Di Martino & Michelangelo Vasta, 2012. "Happy 150th Birthday Italy? Institutions and Economic Performance Since 1861," Department of Economics University of Siena 662, Department of Economics, University of Siena.
    2. Giovana Bueno & Elaine John & Franciane Reinert Lyra & Fernando Cesar Lenzi, 2016. "Knowledge Management, Market Orientation and Innovation: a study at a Technology Park of Santa Catarina," Brazilian Business Review, Fucape Business School, vol. 13(3), pages 70-89, May.
    3. Bengt-Åke Lundvall, 2007. "Innovation System Research – Where it came from and where it might go," Globelics Working Paper Series 2007-01, Globelics - Global Network for Economics of Learning, Innovation, and Competence Building Systems, Aalborg University, Department of Business and Management.
    4. Slavo Radosevic, 2009. "Policies for Promoting Technological Catch Up: Towards a Post-Washington Approach," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 1(1), pages 23-52, June.
    5. Gabriela Dutrénit & Morris Teubal, 2011. "Coevolution, Emergence and Economic Development: Some Lessons from the Israeli and Mexican Experience," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 18, Edward Elgar Publishing.
    6. Gabriela Dutrénit & Juan Carlos Moreno-Brid & Martín Puchet & Eduardo Moreno, 2014. "Economic growth, innovation and inequality in Latin America: improvements, setbacks and pending issues post-Washington Consensus," Chapters, in: Gabriela Dutrénit & Judith Sutz (ed.), National Innovation Systems, Social Inclusion and Development, chapter 11, pages 304-348, Edward Elgar Publishing.
    7. Vladimir D. Matveenk, 2011. "Interests of Social Groups, Direction of Technical Progress, and Barriers to Development: How Sustainable is the World Economic Growth?," DEGIT Conference Papers c016_047, DEGIT, Dynamics, Economic Growth, and International Trade.
    8. Amar Bhidé, 2009. "The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World," Journal of Applied Corporate Finance, Morgan Stanley, vol. 21(1), pages 8-23, January.
    9. Mario Cimoli & Giovanni Dosi & Richard Nelson & Joseph Stiglitz, 2007. "Policies and Institutional Engineering in Developing Economies," Globelics Working Paper Series 2007-04, Globelics - Global Network for Economics of Learning, Innovation, and Competence Building Systems, Aalborg University, Department of Business and Management.

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