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Causality and the First Industrial Revolution

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  • Greasley, David
  • Oxley, Les

Abstract

The existence, timing and possible causes of the British industrial revolution are considered by investigating the time series properties of industrial production and various explanatory variables. Utilizing co-integration-based causality tests, this paper argues that domestic forces, notably population, real wages and technological progress, shaped the industrial revolution, whereas overseas trade expansion was a consequence of industrial growth. The first industrial revolution may shed more general light on the forces promoting industrialization and growth. To the extent that the first industrial revolution offers a template, exports do not appear to provide a simple pathway to industrialization. Copyright 1998 by Oxford University Press.

Suggested Citation

  • Greasley, David & Oxley, Les, 1998. "Causality and the First Industrial Revolution," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 7(1), pages 33-47, March.
    • Handle: RePEc:oup:indcch:v:7:y:1998:i:1:p:33-47
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    Cited by:

    1. David Greasley & Les Oxley, 2010. "Clio And The Economist: Making Historians Count," Journal of Economic Surveys, Wiley Blackwell, vol. 24(5), pages 755-774, December.
    2. Matthew Gibbons & Les Oxley, 2017. "New Perspectives on Patenting Activity in New Zealand 1860-1899," Working Papers in Economics 17/04, University of Waikato.
    3. David Greasley & Les Oxley, 2010. "Cliometrics And Time Series Econometrics: Some Theory And Applications," Journal of Economic Surveys, Wiley Blackwell, vol. 24(5), pages 970-1042, December.
    4. Peter J. Lloyd, 2021. "Big Economic History," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 61(1), pages 10-44, March.

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