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- W2038713600 abstract "This paper reviews twelve factors that have positive or negative effects on economic growth, and two other variables that have ambiguous effects. Two-way causality, spurious causation, and missing variables are discussed. It is argued that regression analyses cannot be a guide to finding the missing variables. While a true model may never be found empirically, a sound theory should be developed before testing plausible hypotheses. The intent is to liberate the theorist from slavery to mathematical models, and to add insights into qualitative variables of economic growth. Without a sound theory to support them, regression analyses can easily be prostituted to support any conclusions. We consider the roles of important policy variables and short-run variables. Long-run variables such as institutions, freedom and their roles in economic growth are then discussed. Finally, the paper focuses on cultural and external factors that have been ignored by development economists. These variables include the ability to make peace, predatory tendencies, written language, population, family stability and territory." @default.
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- W2038713600 date "1996-07-01" @default.
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- W2038713600 title "Why East Asian countries grow faster than others: a recipe for economic growth" @default.
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- W2038713600 doi "https://doi.org/10.1080/09638199600000013" @default.
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