Toward a Microeconomics of Growth.

Working paper

What drives growth at the microeconomic level? Burgess and Venables divide the factors that determine a location's growth performance into two groups, '1st advantage' and '2nd advantage.' The term 1st advantage refers to the conditions that provide the environment in which new activities can be profitably developed, including most of the factors on which traditional theory has focused, such as access to inputs (labor and capital), access to markets, provision of basic infrastructure, and the ...

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Authors: Burgess, R; Venables, A

• Publisher: World Bank
• Host title: The World Bank, Policy Research Working Paper Series
• Series: The World Bank, Policy Research Working Paper Series
• Volume: 3257
• Publication date: 2004-01-01
• Paper number: 3257
• Language: English