Productivity Growth in the Industrial Revolution: A New Growth Accounting Perspective
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 endogenous innovation model and the perspective of recent literature on general purpose technologies. The results show that steam had a relatively small and long-delayed impact on productivity growth when benchmarked against later technologies such as electricity or ICT. Even so, technological change including embodiment effects accounted entirely for the acceleration in labor productivity growth that allowed the economy to withstand rapid population growth without a decline in living standards.
(This abstract was borrowed from another version of this item.)
Volume (Year): 64 (2004)
Issue (Month): 02 (June)
|Contact details of provider:|| Postal: |
Web page: http://journals.cambridge.org/jid_JEH
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.:
- Nicholas Oulton, 2002.
"ICT and Productivity Growth in the United Kingdom,"
Oxford Review of Economic Policy,
Oxford University Press, vol. 18(3), pages 363-379.
- Kevin J. Stiroh, 2002.
"Information Technology and the U.S. Productivity Revival: What Do the Industry Data Say?,"
American Economic Review,
American Economic Association, vol. 92(5), pages 1559-1576, December.
- Kevin J. Stiroh, 2001. "Information technology and the U.S. productivity revival: what do the industry data say?," Staff Reports 115, Federal Reserve Bank of New York.
- Robert J. Barro & Paul Romer, 1993.
National Bureau of Economic Research, Inc, number barr93-1, July.
- Antras, Pol & Voth, Hans-Joachim, 2003.
"Factor prices and productivity growth during the British industrial revolution,"
Explorations in Economic History,
Elsevier, vol. 40(1), pages 52-77, January.
- Antras, Pol & Voth, Hans-Joachim, 2003. "Factor Prices and Productivity Growth During the British Industrial Revolution," Scholarly Articles 3199066, Harvard University Department of Economics.
- Pol Antràs & Hans Joachim Voth, 2000. "Factor prices and productivity growth during the British Industrial Revolution," Economics Working Papers 495, Department of Economics and Business, Universitat Pompeu Fabra.
- Devine, Warren D., 1983. "From Shafts to Wires: Historical Perspective on Electrification," The Journal of Economic History, Cambridge University Press, vol. 43(02), pages 347-372, June.
- Nicholas Crafts & Anthony Venables, 2003.
"Globalization in History.A Geographical Perspective,"
in: Globalization in Historical Perspective, pages 323-370
National Bureau of Economic Research, Inc.
- Crafts, Nicholas & Venables, Anthony J, 2001. "Globalization in History: A Geographical Perspective," CEPR Discussion Papers 3079, C.E.P.R. Discussion Papers.
- Nicholas Crafts & Anthony J. Venables, 2002. "Globalization in History: A Geographical Perspective," CEP Discussion Papers dp0524, Centre for Economic Performance, LSE.
- Nicholas Crafts & Tony Venables, 2002. "Globalization in history: a geographical perspective," LSE Research Online Documents on Economics 2135, London School of Economics and Political Science, LSE Library.
- N. F. R. Crafts & C. K. Harley, 1992. "Output growth and the British industrial revolution: a restatement of the Crafts-Harley view," Economic History Review, Economic History Society, vol. 45(4), pages 703-730, November.
- M. Blaug, 1961. "The Productivity Of Capital In The Lancashire Cotton Industry During The Nineteenth Century," Economic History Review, Economic History Society, vol. 13(3), pages 358-381, 04.
- John W. Kanefsky, 1979. "Motive Power in British Industry and the Accuracy of the 1870 Factory Return," Economic History Review, Economic History Society, vol. 32(3), pages 360-375, 08.
- Crafts, N. F. R., 1980. "National income estimates and the British standard of living debate: A reappraisal of 1801-1831," Explorations in Economic History, Elsevier, vol. 17(2), pages 176-188, April.
- Dirk Pilat & Frank C. Lee, 2001. "Productivity Growth in ICT-producing and ICT-using Industries: A Source of Growth Differentials in the OECD?," OECD Science, Technology and Industry Working Papers 2001/4, OECD Publishing.
- 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.
- Barro, Robert J, 1999.
" Notes on Growth Accounting,"
Journal of Economic Growth,
Springer, vol. 4(2), pages 119-37, June.
- David, P.A., 1989. "Computer And Dynamo: The Modern Productivity Paradox In A Not-Too Distant Mirror," The Warwick Economics Research Paper Series (TWERPS) 339, University of Warwick, Department of Economics.
- Paul M Romer, 1999.
"Increasing Returns and Long-Run Growth,"
Levine's Working Paper Archive
2232, David K. Levine.
- Harberger, Arnold C, 1998. "A Vision of the Growth Process," American Economic Review, American Economic Association, vol. 88(1), pages 1-32, March.
- Harley, C. Knick, 1982. "British Industrialization Before 1841: Evidence of Slower Growth During the Industrial Revolution," The Journal of Economic History, Cambridge University Press, vol. 42(02), pages 267-289, June.
- Greasley, David & Oxley, Les, 1997. "Endogenous Growth or “Big Bang”: Two views of the First Industrial Revolution," The Journal of Economic History, Cambridge University Press, vol. 57(04), pages 935-949, December.
- Dale W. Jorgenson & Kevin J. Stiroh, 2000.
"Raising the Speed Limit: US Economic Growth in the Information Age,"
OECD Economics Department Working Papers
261, OECD Publishing.
- Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: U.S. Economic Growth in the Information Age," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 125-236.
- Crafts, N. F. R. & Mills, Terence C., 1997. "Endogenous Innovation, Trend Growth, and the British Industrial Revolution: Reply to Greasley and Oxley," The Journal of Economic History, Cambridge University Press, vol. 57(04), pages 950-956, December.
When requesting a correction, please mention this item's handle: RePEc:cup:jechis:v:64:y:2004:i:02:p:521-535_00. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Keith Waters)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.