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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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The Contributions of Ruttan and Hayami

The Contributions of Ruttan and Hayami

(p.3) Chapter 1 The Contributions of Ruttan and Hayami
Can Economic Growth Be Sustained?

Keijiro Otsuka

Oxford University Press

This introductory chapter provides a background to Vernon Ruttan and Yujiro Hayami’s thesis concerning the role of induced technical and institutional innovation. In the thesis, Ruttan and Hayami argue that as the insufficiency of a factor of production increases, technology that saves on the use of the factor is induced to develop, along with supportive institutions, property rights systems, public sector research, extension systems, and marketing institutions. This chapter concludes with an overview of the visions and perspectives contributed by Ruttan and Hayami.

Keywords:   Vernon Ruttan, Yujiro Hayami, institutional innovation, property rights systems, public sector research, extension systems

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