Sociologia Econômica: As fontes do crescimento econômico

sábado, 30 de março de 2013

The Sources

of Economic Growth

in OECD Countries

ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Foreword

"... What makes some countries seemingly able to thrive on new technological

opportunities while others are held back? This book confronts this issue head on. It not

only takes a long-term view on aggregate economic growth rates of OECD countries

and examines their main influences and policy drivers, but also investigates how

growth is determined at the industry and firm level. I think it can make the modest, but

important, claim of moving us one step further towards a clearer image of what

matters for growth and where policy should focus.

One of the most important lessons to emerge from this work is that policies that

ensure stable macroeconomic conditions are important for growth, as high and

variable inflation depresses investment and excessive tax burdens distort proper

resource allocation. Also, the importance of capital – in the broadest sense – is

reaffirmed; there are high returns not only to physical capital accumulation but also to

investment in education and R&D. In addition, institutional structures and policy

settings that favour competition and flexibility in capital and labour markets, the

development of new technologies and the diffusion of innovations and technological

change also make a key difference to growth prospects. In particular, many of our

countries need more competitive product markets; labour markets that adjust better

and more rapidly to shocks, both demographic and technological; and, financial

systems that are able to direct capital flows, for given risks, towards projects with the

highest returns.

Sociologia Econômica