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Productivity of growth during the First Industrial Revolution: inferences from the pattern of British external trade

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  • Knick Harley, C
  • Crafts, Nicholas

Abstract

This paper examines British trade and growth in general equilibrium. It rejects Peter Temin's contention that the Crafts-Harley 'new view' of sectorally concentrated productivity growth during the Industrial Revolution is inconsistent with actual industrial exports. A CGE trade model with diminishing returns in agriculture that also emphasizes demand conditions indicates that while technological change in cottons and iron were major spurs to exports, the demand for food imports generated by population growth and diminishing returns in agriculture also stimulated trade. The trade data are compatible with the 'new view' and any implied adjustment to TFP growth estimates is slight.
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Suggested Citation

  • Knick Harley, C & Crafts, Nicholas, 1998. "Productivity of growth during the First Industrial Revolution: inferences from the pattern of British external trade," Economic History Working Papers 22396, London School of Economics and Political Science, Department of Economic History.
    • Handle: RePEc:ehl:wpaper:22396
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    File URL: http://eprints.lse.ac.uk/22396/
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    References listed on IDEAS

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    1. Robert J. Barro, 1998. "Determinants of Economic Growth: A Cross-Country Empirical Study," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522543, December.
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    3. Wittman, Donald, 1989. "Why Democracies Produce Efficient Results," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1395-1424, December.
    4. Albert Breton & Gianluigi Galeotti & Pierre Salmon & Ronald Wintrobe, 1997. "Understanding Democracy: Economic and Political Perspectives," Post-Print hal-00445586, HAL.
    5. Leith, J. Clark, 1992. "The static welfare economics of a small developing country's membership in a customs union: Botswana in the Southern African Customs Union," World Development, Elsevier, vol. 20(7), pages 1021-1028, July.
    6. Weingast, Barry R, 1995. "The Economic Role of Political Institutions: Market-Preserving Federalism and Economic Development," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 11(1), pages 1-31, April.
    7. Olson, Mancur, 1993. "Dictatorship, Democracy, and Development," American Political Science Review, Cambridge University Press, vol. 87(3), pages 567-576, September.
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    Cited by:

    1. Kenny, Charles & Williams, David, 2001. "What Do We Know About Economic Growth? Or, Why Don't We Know Very Much?," World Development, Elsevier, vol. 29(1), pages 1-22, January.
    2. Antras, Pol & Voth, Hans-Joachim, 2003. "Factor prices and productivity growth during the British industrial revolution," Explorations in Economic History, Elsevier, vol. 40(1), pages 52-77, January.
    3. Ferreira, Pedro Cavalcanti & Pessôa, Samuel de Abreu & Santos, Marcelo Rodrigues dos, 2014. "Globalization and the Industrial Revolution (revised)," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 762, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).

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    More about this item

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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