Total factor productivity growth on Britain's railways, 1852-1912: a reappraisal of the evidence
AbstractThis paper revisits the issue of the productivity performance of pre-World War I Britain’s railway system with an improved dataset and with modern time-series econometrics. We find a slowdown in TFP growth between 1850 and 1870, after which it stabilized at about 1.1%. An analysis of company-level productivity rejects the claims that there was a regulation-induced revival of productivity performance in the railway sector after 1900 but, on the other hand, it supports the claim that there was some managerial failure during the period.
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Bibliographic InfoPaper provided by London School of Economics and Political Science, Department of Economic History in its series Economic History Working Papers with number 22553.
Length: 36 pages
Date of creation: Feb 2005
Date of revision:
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Other versions of this item:
- Crafts, Nicholas & Mills, Terence C. & Mulatu, Abay, 2007. "Total factor productivity growth on Britain's railways, 1852-1912: A reappraisal of the evidence," Explorations in Economic History, Elsevier, vol. 44(4), pages 608-634, October.
- N0 - Economic History - - General
- L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation
- B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
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