Institutions, Development and Growth
Thursday, May 6, 2004
John Nye
George Mason University

Cliometrics and the NIE: The Rise of the New Institutional Narrative
Abstract
I. Introduction: Why Are Some Nations Rich and Some Poor?
- Economic History as the Empirical Study of Long Run Changes in Economic Development
II. From Story-Telling to the Rise of the New Economic History (also Cliometrics)
- The Development of National Income Accounting
- Importance of the Neoclassical/Solow Growth Model
- Rostow and the Stages of Economic Growth
- Mathematics, Econometrics and History: the Invention of Cliometrics
- From Success to Stagnation
III. North and the Rise of the New Institutional Economics
- The shift from macro modeling to considering the role of political economy, law, and organization
IV. Core of the NIE Methodology
- The problem of credible commitment
- The conflict between production and predation
V. Methodological Pluralism
- Case studies, game theory, micro analysis
- The new institutional narrative as analytical synthesis
