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Instituto Tecnológico de Santo Domingo

British economist believes extractive institutions slow progress of poor countries

James A. Robinson says that productivity determines the success of a country

British economist believes extractive institutions slow progress of poor countries

SANTO DOMINGO. - For a country prosperous it is necessary that the Strengthen state the institutions by promoting inclusive policies, innovationand opportunities for the population. In the opinion of the writer and professor of the University of Chicago, James A. Robinson, governments must be able to enforce the rules y to distribute el political power broadly to achieve the development or economic sector. y social.

When dictating the conference "Why Countries Fail: The Origins of Power, Prosperity, and Poverty"Robinson, co-author of the book of the same name, said that the diferencia between the rich countries y poor is in their institutions, in how they comply with the rules of the game and in how the inclusion since the political parties.

He considered that what prevents countries in poverty from prospering is the predominance of a weak institutional structure that allow el monopoly, drown the new ideas and there is lack of transparency, which creates consequences in terms of fullfilment of security requirements, economic development y social welfare. He indicated that monopolies create barriers to innovation, and to take advantage of talent, inclusive rules must be created that are for everyone.

“The critical question here, and I'm emphasizing this within the context of monopoly versus innovation, what is crucial is what you need; If you want to have a successful economic development, you must create a society that is capable of meeting these creative people, who have ideas, projects, passion, vision, entrepreneurship and capacity. Where are these people? You have to find a way for these people to emerge ”, he emphasized.

In the paper organized by the Observatory of Social Policies and Development of the Vice Presidency of the Republic, the vice president Margarita Cedeño affirmed in that sense, that the economic development is the result of effective policies y sustainable, and that these policies are only built based on objective, concrete research and the correct use of public resources, an efficient and transparent public investment.

The conference, which was supported by the Interamerican Development Bank (BID), seeks to promote spaces for reflection that favor the design of more efficient and inclusive social policies to reduce poverty and inequality.

In the book, co-authored by Robinson with Massachusetts Institute of Technology (MIT) Professor Daron Acemoglu, experts apply perspectives from institutional economics, development economics, and economic history to understand why nations grow differently. They accumulate power and prosperity, and others fail.

Robinson gave a lecture at INTEC's Osvaldo García de la Conha auditorium, in which he shared about his book with the students of this university. The activity was chaired by the rector Rolando M. Guzmán and the vice president, Margarita Cedeño.

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