Institutions and economic growth: The theoretical models of Thorstein Veblen and Douglass North.

Vol. 33 No. 4 (2013)

Oct-Dec / 2013
Published October 1, 2013
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Castiglioni Lopes, Herton. 2013. “Institutions and Economic Growth: The Theoretical Models of Thorstein Veblen and Douglass North.”. Brazilian Journal of Political Economy 33 (4):619-37. https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/331.

Institutions and economic growth: The theoretical models of Thorstein Veblen and Douglass North.

Herton Castiglioni Lopes
Doutor em Economia pela Universidade Federal do Rio Grande do Sul (UFRGS), professor adjunto da Universidade Federal da Fronteira Sul (UFFS).
Brazilian Journal of Political Economy, Vol. 33 No. 4 (2013), Oct-Dec / 2013, Pages 619-637

Abstract

 The aim of this work is to analyse the role of institutions in the economical growing. It searches for propose two theoretical models that explain the development, one is according to Thorstein Veblen and the other one is based on Douglass North. Thus, it summarises and compares the effects of the institutions growing and at the same time emphasizes the deviations and approximation on both theoretical chain. Beside the differences still exist, there is a research agenda that is approaching. In both theoretical models there are important concepts to analyse the effects of the institutions in the development. 

JEL Classification: B25; B52; O10; O43.


Keywords: institutions growth Douglass North Thorstein Veblen