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Institutions Policies and Economic Development

Source: 62.237.131.18
Topic: Economic Policy

Sort Desciption: Another inauspicious scenario can materialize when the economic policy in its ... democracy to the requirements of an efficient economic policy and rapid ...

Content Inside: Institutions Policies and Economic Development Grzegorz W. Kolodko* TIGER Transformation Integration and Globalization Economic Research at the Kozminski School of Business (WSPiZ) Warsaw Poland (www.tiger.edu.pl) Key words: institutions; economic policy; transition; growth; development; globalization JEL classification index: A11; E6; F02; F43; H11; I38; N1; O17 Summary Institutions are not only created and built but also and especially need to be learnt. It is a process which takes place in all economies but acquires a special importance in less advanced countries. Not only theoretical arguments but also the practical experience over the past 15 years demonstrate that faster economic growth and hence also more broadly socio- economic development is attained by those countries which take greater care to foster the institutional reinforcement of market economy. However progress in market-economy institution building is not in itself sufficient to ensure sustained growth. Another indispensable component is an appropriately designed and implemented economic policy which must not confuse the means with the aims. * Director of TIGER Transformation Integration and Globalization Economic Research at Leon Kozminski Academy of Entrepreneurship and Management in Warsaw (WSPiZ) and John C. Evans Professor in European Studies at University of Rochester New York. As Polish Deputy Premier and Minister of Finance in 2002-03 played a leading role in achieving the entry of Poland into the European Union. As First Deputy Premier and Minister of Finance in 1994-97 led Poland to the OECD. University professor researcher advisor consultant to international organizations columnist and author of numerous academic books and research papers (www.tiger.edu.pl). 1 Grzegorz W. Kolodko Institutions Policies and Growth When it seems that everything or nearly everything has been said about the prerequisites and prospects of economic growth in the Polish context too i ...

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