Understanding Long-Run Economic Growth: Geography, Institutions, and the Knowledge Economy.

• Position: Conference notes

Understanding Long-Run Economic Growth: Geography, Institutions, and the Knowledge Economy, edited by Dora L. Costa and Naomi R. Lamoreaux, is available this fall. he price of this NBER Conference Report is $110.00.

The conditions for sustainable growth and development are among the most debated topics in economics, and the consensus is that institutions matter greatly in explaining why some economies are more successful than others over time. Probing the long-term effects of early colonial dif ferences on immigration policy, land distribution, and financial development in a variety of settings, this volume explores the relationship between economic conditions, growth, and inequality, with a focus on how the use of resources by the political elite may limit incentives for others to invest in human capital or...