Abstract
This paper attempts to use Production Possibilities Frontier (PPF) framework to explain how right (i.e., efficient) institutions help promote economic growth. Conceptually, economic growth can be illustrated in graph by outward shift of the PPF over time. And the right institutions warrant that an economy would normally operates on, or at least close to, the PFF, and in the long run it would gradually push the PPF outward through accumulation of physical and human capital and adoption of more advanced technology.
Recommended Citation
(2024)
"PPF, Institutions, and Economic Growth,"
Journal of Economics and Finance Education: Vol. 23:
Iss.
2, Article 14.
Available at:
https://scholarship.rollins.edu/jefe/vol23/iss2/14
