Extractive institutions & long-run growth
Public lecture titled: "Extractive institutions & long-run growth: Is Latin America’s historical development a cautionary tale for Greenland’s economic growth?"
Latin America’s historical development has been commonly employed to typify the effects of institutional path dependence on cross-country income differences (e.g. the reversal of fortune hypothesis). Despite the persistence of extractive institutions and long periods of economic divergence, various natural resource-based economies in Latin America have started to catch up with the levels of high-income countries. What can other (resource-based) economies learn from the failures and successes of development? Through an institutional perspective, the aim of this lecture is to provide an historical overview of the growth strategies of major Latin American countries looking to mirror the growth potential and barriers of Greenland’s economy. Employing data from historical national accounts and country-case studies, the lecture intends to discuss new insights and parallels of the role of institutional development on long-run growth in natural resource-based economies.
The lecture is divided in two parts as follows: the first part contains a general outline of the institutional framework together with common hypotheses and international evidence of the effects of extractive and inclusive institutions. The second one is grounded on a historical-comparative view emphasizing Latin America’s structural issues looking to tentatively highlight common challenges related to Greenland’s economic development.
When: 28 March 2017
Where: Ilimmarfik auditorium, at 19.00 - 21.00
Coffee, tea and cake will be served - everybody is welcome
Javier L. Arnaut is a researcher of economics at the International Centre for Research and Analysis (Fundacja ICRA) in Warsaw, Poland. He did his PhD in economics at the University of Groningen, The Netherlands. His current research focuses on quantitative history and the political economy of emerging and transition countries.