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Can Economic Growth Be Sustained?The Collected Papers of Vernon W. Ruttan and Yujiro Hayami$
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Keijiro Otsuka and C. Ford Runge

Print publication date: 2011

Print ISBN-13: 9780199754359

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199754359.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 09 December 2021

Induced Technical Change, Induced Institutional Change, and Mechanism Design

Induced Technical Change, Induced Institutional Change, and Mechanism Design

Chapter:
(p.301) Chapter 16 Induced Technical Change, Induced Institutional Change, and Mechanism Design
Source:
Can Economic Growth Be Sustained?
Author(s):

Vernon W. Ruttan

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780199754359.003.0016

This chapter focuses on the demand for social science knowledge that is derived from the demand for institutional change. It reviews the theories of induced technical and institutional change and describes its sources of demand and supply, including the concepts of incentive-compatible mechanism and institutional design. The chapter concludes with a discussion on the elements of a pattern or appreciative model of the relationships between changes in resource and cultural endowments and technical and institutional change.

Keywords:   social science knowledge, institutional change, incentive-compatible mechanism, cultural endowments, demand, supply

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