Phillipe Aghion of Harvard is one of the planet's leading thinkers on designing policies for economic growth. He gave the LSE Lionel Robbins lectures. The link is here . Particularly striking is the attention given by Aghion in his third lecture on the role of trust, culture, values and social capital in promoting growth. This relates back to a previous discussion on this blog about the importance of understanding psychology in thinking about long-run growth processes. His first lecture contains a discussion of his work on what types of university funding policies best promote growth and innovation. There is still a lot of work that could be done with the type of data he is discussing in this work. The current models (including the paper posted yesterday) are quite simple with many still competing hypotheses as to the direction of causality. This will be a very interesting literature to follow.
"Professor Philippe Aghion
Designing Policies for Growth (19-21 Feb 2009)
The 2009 Lionel Robbins lectures were recorded on 19, 20 and 21 Feb 2007 in the Sheikh Zayed Theatre, New Academic Building at LSE
Over three lectures, Philippe Aghion will lay down the framework to think about growth policy design, discuss how policies inducing directed technical change can be designed to maximise sustainable growth, and finally investigate the relationship between market reforms and trust. Philippe Aghion is Robert C Waggoner Professor of Economics, Harvard University."
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