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The contribution of new technology to economic growth: lessons from economic history

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  • Crafts, Nicholas

Abstract

This paper reviews the analysis of technological change by cliometricians. It focuses on lessons about total factor productivity (TFP) from growth accounting and on aspects of social capability that are conducive to the effective assimilation of new technology. Key messages are that when TFP growth is very rapid this typically involves reductions in inefficiency not just technological advance and that even really important new technologies have small initial effects on aggregate productivity. Incentive structures matter greatly for the adoption of new technology, but social capability is not independent of the technological epoch as the information and communications technology (ICT) era has emphasized to Europeans.

Suggested Citation

  • Crafts, Nicholas, 2010. "The contribution of new technology to economic growth: lessons from economic history," Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 28(3), pages 409-440, December.
    • Handle: RePEc:cup:reveco:v:28:y:2010:i:03:p:409-440_00
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    1. Cities, infrastructure and growth
      by Diane Coyle in The Enlightened Economist on 2015-06-23 15:35:38

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    Cited by:

    1. Isabel Dinis, 2023. "Exploring the Drivers of Microregional Agricultural Labor Productivity: Empirical Insights from Portugal," Agriculture, MDPI, vol. 13(11), pages 1-19, November.
    2. Sjak Smulders & Michael Toman & Cees Withagen, 2014. "Growth Theory and “Green Growthâ€," OxCarre Working Papers 135, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    3. Miguel Martín-Retortillo & Vicente Pinilla, 2013. "Patterns and causes of growth of European agricultural production, 1950-2005," Documentos de Trabajo (DT-AEHE) 1302, Asociación Española de Historia Económica.
    4. Miguel Martín-Retorillo & Vincente Pinilla, 2012. "Why did agricultural labour productivity not converge in Europe from 1950 to 2005?," Working Papers 0025, European Historical Economics Society (EHES).
    5. Kloudová Jitka & Chwaszcz Ondřej, 2013. "An Analysis of the Creative Potential in Individual Regions of The Czech Republic," Creative and Knowledge Society, Sciendo, vol. 3(1), pages 17-27, July.
    6. Alex Bowen, 2014. "Green growth," Chapters, in: Giles Atkinson & Simon Dietz & Eric Neumayer & Matthew Agarwala (ed.), Handbook of Sustainable Development, chapter 15, pages 237-251, Edward Elgar Publishing.
    7. Bart van Ark, 2015. "From Mind the Gap to Closing the Gap. Avenues to Reverse Stagnation in Europe through Investment and Productivity Growth," European Economy - Discussion Papers 006, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    8. Bart van ARK, 2015. "Productivity and Digitilization in Europe: Paving the Road to Faster Growth," Communications & Strategies, IDATE, Com&Strat dept., vol. 1(100), pages 107-124, 4th quart.
    9. Herranz-Loncan, Alfonso, 2011. "The contribution of railways to economic growth in Latin America before 1914: a growth accounting approach," MPRA Paper 33578, University Library of Munich, Germany.
    10. Matilde Mas & Francisco Pérez & Dirk Pilat, 2025. "Productivity, technology and intangible assets," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 16(2), pages 321-360, June.
    11. Kluge, Jan & Lappoehn, Sarah & Plank, Kerstin, 2020. "The Determinants of Economic Competitiveness," IHS Working Paper Series 24, Institute for Advanced Studies.
    12. Vicente Pinilla & Miguel Martin-Retortillo, 2012. "Why did agricultural labour productivity not converge in Europe, 1950-2006?," Working Papers 12016, Economic History Society.

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