Public goods as drivers of growth/development
Keywords:
Development, Growth, Economic TheoryAbstract
This paper frames a broader reconstruction of the evolution of our understanding of the dynamics of an economy through the role assigned to a variety of Pure and Non Pure Public Goods(NPPGs) as development drivers and value creators. It outlinesthe convergence of two distinct, though major theoretical traditions: the theories of growth/development, on one side, and the debate over role and efficiency of State/Vertical Integrated Firms v/s Market in the provision of goods. Coase (1932) put forward a theory of why either one prevails, as a function of a broad category of transaction costs.
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