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Forging Ahead and Falling Behind: The Rise and Relative Decline of the First Industrial Nation

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Crafts, Nicholas

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Abstract

This paper considers Britain's failure to maintain its lead in economic growth in the face of overtaking by the United States. Recent cliometric research is reviewed and it is argued that early nineteenth century Britain had a low growth potential by twentieth century standards and that the American growth of the early twentieth century was of a quite different kind. Neither traditional nor new growth theories can encompass this experience and it is suggested that natural resource endowments, location-specific learning processes, and the international migration of factors of production were central aspects of American overtaking of Britain. Copyright 1998 by American Economic Association.

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Publisher Info
Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 12 (1998)
Issue (Month): 2 (Spring)
Pages: 193-210
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Handle: RePEc:aea:jecper:v:12:y:1998:i:2:p:193-210

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Broadberry, S N, 1994. "Technological Leadership and Productivity Leadership in Manufacturing since the Industrial Revolution: Implications for the Convergence Debate," Economic Journal, Royal Economic Society, vol. 104(423), pages 291-302, March. [Downloadable!] (restricted)
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  2. Crafts, N. F. R., 1995. "Exogenous or Endogenous Growth? The Industrial Revolution Reconsidered," The Journal of Economic History, Cambridge University Press, vol. 55(04), pages 745-772, December. [Downloadable!]
  3. Nicholas Crafts, 1997. "Some Dimensions of the Quality of Life during the British Industrial Revolution," CEP Discussion Papers dp0339, Centre for Economic Performance, LSE. [Downloadable!]
  4. Crafts, N. F. R., 1987. "British economic growth, 1700-1850; some difficulties of interpretation," Explorations in Economic History, Elsevier, vol. 24(3), pages 245-268, July. [Downloadable!] (restricted)
  5. Brezis, Elise S & Krugman, Paul R & Tsiddon, Daniel, 1993. "Leapfrogging in International Competition: A Theory of Cycles in National Technological Leadership," American Economic Review, American Economic Association, vol. 83(5), pages 1211-19, December. [Downloadable!] (restricted)
  6. Broadberry S. N., 1994. "Comparative Productivity in British and American Manufacturing during the Nineteenth Century," Explorations in Economic History, Elsevier, vol. 31(4), pages 521-548, October. [Downloadable!] (restricted)
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  7. Abramovitz, Moses, 1993. "The Search for the Sources of Growth: Areas of Ignorance, Old and New," The Journal of Economic History, Cambridge University Press, vol. 53(02), pages 217-243, June. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Sarah Cochrane, 2009. "Assessing the Impact of World War I on the City of London," Economics Series Working Papers 456, University of Oxford, Department of Economics. [Downloadable!]
  2. Ian McLean, 2004. "Australian Economic Growth in Historical Perspective," Method and Hist of Econ Thought 0410003, EconWPA. [Downloadable!]
  3. Ian W. McLean, 2005. "Why Was Australia So Rich?," Development and Comp Systems 0509003, EconWPA. [Downloadable!]
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