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Journal Articles
September 2001
Article
From micro to macro: public policies and aggregate economic performance
Type: Journal Articles
Authors: Tim Besley
ISSN: Print: 0143-5671 Online: 1475-5890
Volume, issue, pages: Vol. 22, No. 3, pp. 357-374
JEL classification: D90, H30
Keywords: economic growth, microeconomic policy

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This paper provides an overview of the link between policy and economic growth. It stresses that while growth, as measured and discussed, is a macroeconomic phenomenon, the best available evidence of policy effectiveness is typically from studies using micro data. It also reiterates the message that divergence between private and social returns is a key part of the evidence needed to discuss what kinds of policy intervention are desirable.

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