IDEAS home Printed from https://ideas.repec.org/a/rnp/ecopol/ep1810.html
   My bibliography  Save this article

Formation of the Railway Network: Diffusion of Epochal Innovation and Economic Growth

Author

Listed:
  • Macheret, Dmitry A.

    (Russian University of Transport (MIIT))

  • Valeev, Nadir A.

    (Joint Stock Company Railway Research Institute (JSC “VNIIZhT”))

  • Kudryavtseva, Anastasiya V.

    (Joint Stock Company Railway Research Institute (JSC “VNIIZhT”))

Abstract

The article considers, based on the example of the formation of the world railway network, the process of appearance and diffusion of epochal innovation in interrelation with economic growth. The influence of the previous level of economic and institutional development on the time of the appearance of railways in each country and the dynamics of subsequent development of the railway network has been revealed. It is shown that the institutional conditions that have developed in the UK, which ensure technological creativity of society, individual freedom and entrepreneurial activity, predetermined the country’s leadership in the first half of the 19th century, both in the appearance of railways and further development of the railway network, and in industrial development in general. As a higher level of economic development and quality of institutions in the country contributes to a more dynamic diffusion of innovations, the gap in the level of economic development between the more developed and less developed countries is widening. Overcoming this gap and implementing the strategy of “catch-up” development are possible only through fundamental institutional changes. Cardinal acceleration of economic growth can be achieved only on the basis of a synergy of institutional and innovative development. Given the major role of transport, which is the material basis of global commodity exchange, in the modern economy, economic growth can be successfully stimulated through a synergy of quality institutions and transport innovations.

Suggested Citation

  • Macheret, Dmitry A. & Valeev, Nadir A. & Kudryavtseva, Anastasiya V., 2018. "Formation of the Railway Network: Diffusion of Epochal Innovation and Economic Growth," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 252-279, February.
  • Handle: RePEc:rnp:ecopol:ep1810
    as

    Download full text from publisher

    File URL: ftp://w82.ranepa.ru/rnp/ecopol/ep1810.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. B. Lapidus & D. Macheret., 2011. "Macroeconomic Aspect of the Evolution of Railway Transport," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 3.
    2. R. J. Gordon., 2013. "Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 4.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    exchange; railways; innovations; institutions; economic growth.;

    JEL classification:

    • L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation
    • N - Economic History
    • N - Economic History
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • R - Urban, Rural, Regional, Real Estate, and Transportation Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rnp:ecopol:ep1810. 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: (RANEPA maintainer). General contact details of provider: http://edirc.repec.org/data/aneeeru.html .

    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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.