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Productivity, Innovation and Social Savings

In: An Economist’s Guide to Economic History

Author

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  • Gerben Bakker

    (London School of Economics and Political Science)

Abstract

Since the late 1930s, economists have noted an increase in economic efficiency, leading to higher welfare levels and social savings. Key to understand this development is the quantification of the impact of innovations and new technologies. This chapter discusses growth accounting and allied methodologies and how they may help to quantify innovation-led increases in efficiency and welfare benefits.

Suggested Citation

  • Gerben Bakker, 2018. "Productivity, Innovation and Social Savings," Palgrave Studies in Economic History, in: Matthias Blum & Christopher L. Colvin (ed.), An Economist’s Guide to Economic History, chapter 47, pages 405-416, Palgrave Macmillan.
  • Handle: RePEc:pal:palscp:978-3-319-96568-0_47
    DOI: 10.1007/978-3-319-96568-0_47
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    More about this item

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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