65
American Economic Journal: Macroeconomics 2 (July 2010): 65–97
http://www.
aeaweb.
org/articles.
php?doi=10.
1257/mac.
2.
3.
65
The emphasis of economic development practitioners and researchers is on modern determinants of per capita income such as...
More
65
American Economic Journal: Macroeconomics 2 (July 2010): 65–97
http://www.
aeaweb.
org/articles.
php?doi=10.
1257/mac.
2.
3.
65
The emphasis of economic development practitioners and researchers is on modern determinants of per capita income such as quality of institutions to support
markets, economic policies chosen by governments, human capital components such
as education and health, or political factors such as violence and instability.
Could this discussion be missing an important, much more long-run dimension to
economicdevelopment?Totheextentthathistoryisdiscussedatallineconomicdevelopment, it is usually either the divergence associated with the Industrial Revolution
(e.
g.
, Robert Lucas 2000) or the effects of the colonial regimes.
Is it possible that
history as old as 1500 AD or older also matters significantly for today’s national
economic development? A small body of previous growth literature also considers
very long run factors in economic development (Quamrul Ashraf
Less
