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Corresponding Author:
Luigi Oddo, Department of Economics and Statistics “Cognetti de Martiis”, University of Turin, Italy

Revisiting Roman Economic Growth:Predatory Policies, Self-Sustaining Strategies, and the Limits of Neo Institutional Economics

December 4, 2023
JEL classification: N13; N73; O40; P40
Keywords: Roman Empire; Economic Growth; Malthusian Trap; Smithian Growth; Neo Institutional Economics

Abstract

This paper critically examines the traditional perspectives on ancient economic growth, specifically the Malthusian and Smithian viewpoints, which emerged within the framework of Neo Institutional Economics (NIE). By delving into recent literature, the study highlights the limitations of these perspectives in providing a comprehensive understanding of macroeconomic dynamics and empirical evidence in the context of the Roman Empire. The paper argues that sustained economic growth in ancient Rome can be attributed to a hybrid model, combining predatory actions resulting from military conquests and long-term self-sustaining strategies centered around market mechanisms. These findings challenge the predictive power of the NIE approach in accurately capturing the complexities of ancient economic growth. 


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Institute for International Economics
of the Genoa Chamber of Commerce


Istituto di Economia Internazionale
Camera di Commercio di Genova
Via Garibaldi, 4 (III piano) - 16124 Genova (Italy)
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