RULE AND POLICY SPACES AND ECONOMIC PROGRESS - LESSONS FOR THIRD-WORLD COUNTRIES

Authors
SCULLY GW
Citation
Gw. Scully, RULE AND POLICY SPACES AND ECONOMIC PROGRESS - LESSONS FOR THIRD-WORLD COUNTRIES, Public choice, 90(1-4), 1997, pp. 311-324
Citations number
8
Categorie Soggetti
Economics,"Political Science
Journal title
Public choice → ACNP
ISSN journal
00485829
Volume
90
Issue
1-4
Year of publication
1997
Pages
311 - 324
Database
ISI
SICI code
0048-5829(1997)90:1-4<311:RAPSAE>2.0.ZU;2-K
Abstract
Despite greater rates of capital accumulation, per capita growth rates among Third World nations (particularly, Africa) are much lower than among the advanced, capitalist nations. In this paper I examine the cr itical roles of the rule space and policy on economic growth. Empirica lly, nations with poor institutions and policies grow at about a fifth of the rate of nations with good institutions and policies.