Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/194939
Authors: 
Constantine, Collin
Year of Publication: 
2017
Citation: 
[Journal:] Journal of Economic Structures [ISSN:] 2193-2409 [Volume:] 6 [Year:] 2017 [Issue:] 2 [Pages:] 1-18
Abstract: 
The contention that 'inclusive' institutions are the deep determinants of economic growth remains unsatisfactory. This paper develops an alternative theoretical and empirical case that economic structures are the fundamental cause of economic performance. Economic structures determine the rate of structural learning, affect institutional performance, influence the distribution of income and establish the direction of political transitions, thereby, economic performance. The paper highlights the feedback loops among institutions, political power and economic structures, thus, markets on their own will not ensure growth-enhancing transformations. The workings of this framework are illustrated using a USA case study, and it exposes the structural origins of the financial crisis.
Subjects: 
Economic structure
Institutions
Structural transformation
Political power
JEL: 
O14
O17
O43
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Article
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