Stephen Broadberry, John Joseph Wallis, 05 July 2017

Most analysis of long-run economic performance abstracts from short-run fluctuations and seeks to explain improved performance through an increase in the rate of growth. Using data on annual rates of change of per capita income reaching back to the 13th century for some countries, this column show that improved long-run performance has actually occurred primarily through a decline in the rate and frequency of shrinking. Structural change, technological change, demographic change and the changing incidence of warfare offer at best a partial explanation; a full understanding requires a consideration of institutional change.

Lúcio Vinhas de Souza, 13 June 2008

Russia has enjoyed impressive economic performance in recent years. This column takes stock of its success, identifies its growth drivers, and highlights the need for microeconomic and structural reforms.

Guido Tabellini, 22 December 2007

Morality – defined as individual values and convictions about the scope of application of norms of good conduct – is an important factor in individual behaviour and thus economic outcomes. Such values evolve slowly so they are an important channel through which distant political history can influence current economic performance. Here is new evidence supporting this view.

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