Economic growth and institutions under an evolutionary perspective
DOI:
https://doi.org/10.5902/1414650934311Keywords:
Economic growth, Institutions, Institutional changeAbstract
The objective of this study is to promote the broadening of the understanding of the relationship between economic growth and state performance under an evolutionary perspective. For this, a literature review was searched for essential aspects of evolutionary theory capable of explaining economic growth. This literature shows that firms, when producing, are influenced by different institutions and social technologies, so that productive activity demands the coordination of different agents. Technological change does not occur continuously and is subject to abrupt changes that require the adaptation of social institutions and technologies. The ability of countries to adapt to technological change explains the higher rates of economic growth presented by some countries to the detriment of others. The presence of coordination problems implies the emergence of space for State action, which is responsible for promoting institutional changes and for endowing the economic system with greater capacity for adaptation, thus achieving the promotion of greater economic growth.Downloads
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