Skip to main content
SpringerLink
Log in

Rule and policy spaces and economic progress: Lessons for Third World countries

  • Published:
Public Choice Aims and scope Submit manuscript

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 critical roles of the rule space and policy on economic growth. Empirically, nations with poor institutions and policies grow at about a fifth of the rate of nations with good institutions and policies.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Similar content being viewed by others

References

  • Banks, A.S. (Ed.). (1993). Political handbook of the world 1993. Binghampton, NY: CSA Publications.

    Google Scholar 

  • Gwartney, J.D., Block, W.E. and Lawson, R.A. (1993). Rating the economic freedom of 100 countries: 1975-1990. Rating Economic Freedom VI, Sonoma, CA: Liberty Fund/Fraser Institute.

    Google Scholar 

  • Karatnycky, A. (1994). Freedom in the world: The annual survey of political rights and civil liberties 1993-1994. New York: Freedom House.

    Google Scholar 

  • Maddison, A. (1982). Phases of capitalist development. Oxford: Oxford University Press.

    Google Scholar 

  • Porter, P.K. and Scully, G.W. (1995). Institutional technology and economic growth. Public Choice 85: 17-36.

    Google Scholar 

  • Scully, G.W. (1988). The institutional framework and economic development. Journal of Political Economy 96(June): 652-662.

    Google Scholar 

  • Scully, G.W. (1992). Constitutional environments and economic growth. Princeton: Princeton University Press.

    Google Scholar 

  • Summers, R. and Heston, A. (1991). The penn world table (mark 5): An expanded set of international comparisons 1950-88. Quarterly Journal of Economics 106(2)(May): 327- 368.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. School of Management, University of Texas at Dallas, Box 830688, Richardson, TX, 75083-0688, U.S.A.

    Gerald W. Scully

Authors
  1. Gerald W. Scully
    View author publications

    You can also search for this author in PubMed Google Scholar

Rights and permissions

Reprints and permissions

About this article

Cite this article

Scully, G.W. Rule and policy spaces and economic progress: Lessons for Third World countries. Public Choice 90, 311–324 (1997). https://doi.org/10.1023/A:1004920819127

Download citation

  • Issue Date:

  • DOI: https://doi.org/10.1023/A:1004920819127

Keywords

Search

Navigation