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Institutional Innovation and the Adoption of New Technologies: The Case of Steam

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  • Berger, Thor
  • Ostermeyer, Vinzent

Abstract

This paper documents how the advent of the limited liability corporation contributed to the diffusion of steam technology during Sweden’s industrialization. Using longitudinal establishment-level data, we show that incorporation sharply raised the probability that industrial establishments adopted steam. Incorporation facilitated technology adoption partly by enabling smaller establishments to expand to a greater scale, where the use of steam became feasible. These results highlight that low barriers to incorporation may be an important lever for facilitating the diffusion of new technologies.

Suggested Citation

  • Berger, Thor & Ostermeyer, Vinzent, 2025. "Institutional Innovation and the Adoption of New Technologies: The Case of Steam," The Journal of Economic History, Cambridge University Press, vol. 85(3), pages 844-873, September.
    • Handle: RePEc:cup:jechis:v:85:y:2025:i:3:p:844-873_7
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