Economic policy and economic growth

W. Easterly

    Research output: Contribution to journalArticlepeer-review


    If economic policy strongly affects the long-run rate of growth, then the cumulative implications of such policy for human welfare are such as to dwarf most other economic issues. This article argues that per capita growth will take place only if the after-tax productivity of capital and the rate of saving are high enough to keep up with population growth. Since capital productivity is affected by economic policy, policy determines not only the level of growth, but whether growth takes place at all. The author offers a critical examination of the relative roles of culture, technological advances, and economic policies. -from Author

    Original languageEnglish (US)
    Pages (from-to)10-13
    Number of pages4
    JournalFinance & Development
    Issue number3
    StatePublished - 1991

    ASJC Scopus subject areas

    • Geography, Planning and Development
    • Development
    • Finance


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