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From 1999 to 2008 the Centre for Research in Institutional Economics (CRIE), University of Hertfordshire, UK organised a series of



"My idea of academic heaven would involve a lot of workshops like that. I enjoyed it immensely. Congratulations on getting (and keeping) such a series going"  - Andrew Tylecote, University of Sheffield, 2008.


"one of the best conferences I’d been to" - Jochen Runde, University of Cambridge, 2008


The Tenth and Final CRIE Workshop was held on 17-18 June 2008

With kind financial support from the Cambridge Political Economy Society Trust 

"Institutions, Technology and their Roles in Economic Growth"



Geoffrey Hodgson (University of Hertfordshire)

Richard Lipsey (Simon Fraser University)

Carlota Perez (University of Cambridge)

Jochen Runde (University of Cambridge)

Andre Tylecote (University of Sheffield)



Since 1999 the Hertfordshire workshop has established itself as a major annual international event, devoted to the development of institutional economics. Past speakers include: Margaret Archer (Warwick), Robert Aunger (Cambridge), Markus Becker (Southern Denmark), Richard Carter (London), Ha-Joon Chang (University of Cambridge), Victoria Chick (London), Tony Dnes (Hertfordshire), Giovanni Dosi (Pisa), Stephen Dunn (UK Dept Health), David Gindis (University of Lyon II), Geoff Harcourt (Cambridge), Barbara Harriss-White (Oxford), Colin Haslam (Hertfordshire), Geoff Hodgson (Hertfordshire), David Hull (Northwestern, USA), Geoffrey Ingham (Cambridge), Thorbjørn Knudsen (Southern Denmark), Tony Lawson (Cambridge), Nathalie Lazaric (Nice), Edward Lorenz (Paris), Pavel Luksha (Hertfordshire), Robert McMaster (Aberdeen), Claude Ménard (Paris), Bart Nooteboom (Rotterdam), Patrick O'Brien (LSE), Ugo Pagano (Siena), Erik Reinert (Tallin), Allan Schmid (Michigan State), John Searle (Berkeley), Itai Sened (St Louis), Viktor Vanberg (Freiburg), and Jack Vromen (Rotterdam).




How do we explain the emergence of rapid economic growth in the last three hundred years? Is technology the driver of economic growth? Are institutions generally barriers to growth, or are some institutions essential for the generation and absorption of technology? What are more important in explaining economic growth: institutions or technology? Or are they causally entwined?


Clearly these questions are important, but have to be refined before clear answers are possible. In particular, the assessment of the relative importance of institutions and technology in economic growth depends not only on adequate definitions of these terms, but also on an understanding of the ways in which these phenomena interact and mutually support one another.



This residential workshop will be held at the De Havilland Campus of the University of Hertfordshire, Hatfield, UK


"Institutions, Technology and their Roles in Economic Growth"



09.00-10.30 Registration and Coffee
10.30-11.00 Opening and Welcome
11.00-12.30 Lecture 1: Jochen Runde (U Cambridge“Getting to grips with technology”
12.30-13.30 Lunch
13.30-15.00 Lecture 2: Geoff Hodgson (U Hertfordshire) “Institutions and technology: Beyond Veblen and Ayres”
15.00-15.30 Coffee
15.30-17.00 Lecture 3: Carlota Perez (U Cambridge) “Technological revolutions, paradigm shifts and institutional change”
19.00           Dinner
09.00-10.30 Lecture 4: Richard Lipsey (Simon Fraser U) “Economic growth related to mutually interdependent institutions and technology”
10.30-11.00 Coffee
11.00-12.30 Poster Session
12.30-13.30 Lunch
13.30-15.00 Lecture 5: Andrew Tylecote (U Sheffield) “Varieties of capitalism and the technological advantage of nations”
15.00-15.30 Coffee
15.30-17.00 Round table discussion on technology, institutions and economic growth
17.00           Workshop ends



Ayres, Clarence E. (1944) The Theory of Economic Progress, 1st edn. (Chapel Hill, North Carolina: University of North Carolina Press).

Dosi, Giovanni, Freeman, Christopher, Nelson, Richard, Silverberg, Gerald and Soete, Luc L. G. (eds) (1988) Technical Change and Economic Theory (London: Pinter).

Freeman, Christopher and Louça, Francisco (2001) As Time Goes By: From the Industrial Revolutions to the Information Revolution (Oxford and New York: Oxford University Press).

Landes, David S. (1998) The Wealth and Poverty of Nations: Why Some are Rich and Some Are Poor (New York: Norton).

Lipsey, Richard G., Carlaw, Kenneth I. and Bekar, Clifford T. (2005) Economic Transformations: General Purpose Technologies and Long Term Economic Growth (Oxford: Oxford University Press).

Perez, Carlota (2002) Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages (Cheltenham: Edward Elgar).

Ruttan, Vernon W. ( 2003) Social Science Knowledge and Economic Development: An Institutional Design Approach (Ann Arbor: University of Michigan Press).

Ruttan, Vernon W. (2006) ‘Social Science Knowledge and Induced Institutional Innovation: An Institutional Design Perspective’, Journal of Institutional Economics, 2(3), December, pp. 249-72.

Tylecote, Andrew (2007) “The role of finance and corporate governance in national systems of innovation”, Organization Studies, October 2007, Vol. 28, no.10, 1461-1481.

Tylecote, Andrew and Giovanna Vertova (2007) “Technology and institutions in changing specialisation: chemicals and motor vehicles in the US, UK and Germany in the 20th Century”, Industrial and Corporate Change, October 2007, Vol.16 no.5, 875-901.