Institutions, Development and Growth
Thursday, May 6, 2004

John Nye

George Mason University

John Nye

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)

  1. The Development of National Income Accounting
  2. Importance of the Neoclassical/Solow Growth Model
  3. Rostow and the Stages of Economic Growth
  4. Mathematics, Econometrics and History: the Invention of Cliometrics
  5. 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

VI. Where Do We Go From Here?