1. ULOGA INSTITUCIJA U EKONOMSKOM RAZVOJU : PRIRODNI (POVIJESNI ) EKSPERIMENTI.
- Author
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Barković, Ivana and Lucić, Nataša
- Subjects
- *
ECONOMIC development , *PRODUCTION (Economic theory) , *GOVERNMENT policy , *ECONOMIC structure , *ECONOMIC history - Abstract
The aim of the paper is to present stylized facts on basic patterns of economic growth for interpreting development processes and emphasizing institutional economy as part of endogenous theory of growth supporting the idea of how a country will develop if it develops and strenghtens 1) institutions aiming at transaction costs decrease and confidence increase, which generates development programme initiatives and 2) institutions facilitating acquisition of knowledge, skills, information, production resources for individuals as to increase their productivity, income and welfare in general. In order to prove the importance of institutions in economic development the paper interpretes economic history through a number of selected cases exemplifying the extent of economic development depending on institution quality and institutional framework. [ABSTRACT FROM AUTHOR]
- Published
- 2010