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Productivity Growth in the Industrial Revolution: A New Growth Accounting Perspective Author info | Abstract | Publisher info | Download info | Related research | Statistics CRAFTS, NICHOLAS
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The issue of why productivity growth during the British industrial revolution was slow despite the arrival of famous inventions is revisited using a growth accounting methodology based on an embodied innovation model. The results highlight the relatively small and long-delayed impact of steam on productivity growth even when capital deepening is taken into account. Even so, technological change including embodiment effects accounted entirely for the acceleration in labor productivity growth that allowed the economy to achieve modern economic growth.
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Article provided by Cambridge University Press in its journal The Journal of Economic History .
Volume (Year): 64 (2004)
Issue (Month): 02 (June)
Pages: 521-535
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Handle: RePEc:cup:jechis:v:64:y:2004:i:02:p:521-535_00Contact details of provider: Postal: The Edinburgh Building, Shaftesbury Road, Cambridge CB2 2RU UK Fax: +44 (0)1223 325150 Email: Web page: http://journals.cambridge.org/jid_JEH
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references 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.)
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