Total factor productivity growth on Britain's railways, 1852-1912: a reappraisal of the evidence
This paper revisits the issue of the productivity performance of pre-World War I Britain’s railway system with an improved dataset and with modern time-series econometrics. We find a slowdown in TFP growth between 1850 and 1870, after which it stabilized at about 1.1%. An analysis of company-level productivity rejects the claims that there was a regulation-induced revival of productivity performance in the railway sector after 1900 but, on the other hand, it supports the claim that there was some managerial failure during the period.
|Date of creation:||Feb 2005|
|Contact details of provider:|| Postal: LSE, Dept. of Economic History Houghton Street London, WC2A 2AE, U.K.|
Phone: +44 (0) 20 7955 7084
Web page: http://www.lse.ac.uk/economicHistory/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Crafts, Nicholas & Mills, Terence C., 2004. "Was 19th century British growth steam-powered?: the climacteric revisited," Explorations in Economic History, Elsevier, vol. 41(2), pages 156-171, April.
- Mulatu, Abay & Crafts, Nicholas, 2005. "Efficiency among private railway companies in a weakly regulated system: the case of Britain's railways in 1893-1912," Economic History Working Papers 22552, London School of Economics and Political Science, Department of Economic History.
- Mitchell, B. R., 1964. "The Coming of the Railway and United Kingdom Economic Growth," The Journal of Economic History, Cambridge University Press, vol. 24(03), pages 315-336, September.
- Nickell, Stephen J, 1996. "Competition and Corporate Performance," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 724-746, August.
- Nicholas Crafts, 2004.
"Steam as a general purpose technology: A growth accounting perspective,"
Royal Economic Society, vol. 114(495), pages 338-351, April.
- Crafts, Nicholas, 2003. "Steam as a general purpose technology: a growth accounting perspective," Economic History Working Papers 22354, London School of Economics and Political Science, Department of Economic History.
- E. H. Phelps Brown & S. J. Handfield-Jones, 1952. "THE CLIMACTERIC OF THE 1890's: A STUDY IN THE EXPANDING ECONOMY," Oxford Economic Papers, Oxford University Press, vol. 4(3), pages 266-307.
- Pitt, Mark M. & Lee, Lung-Fei, 1981. "The measurement and sources of technical inefficiency in the Indonesian weaving industry," Journal of Development Economics, Elsevier, vol. 9(1), pages 43-64, August.
- David Parker, 2004. "The UK's Privatisation Experiment: The Passage of Time Permits a Sober Assessment," CESifo Working Paper Series 1126, CESifo Group Munich.
- Dodgson J. S., 1993. "British Railway Cost Functions and Productivity Growth, 1900-1912," Explorations in Economic History, Elsevier, vol. 30(2), pages 158-181, April.
- Ivaldi, M & McCullough, G J, 2001.
"Density and Integration Effects on Class I U.S. Freight Railroads,"
Journal of Regulatory Economics,
Springer, vol. 19(2), pages 161-182, March.
- Ivaldi, M. & McCullough, G., 1999. "Density and Integration Effects on Class I U.S. Freight Railroads," Papers 99.526, Toulouse - GREMAQ.
- Ivaldi, Marc & Mccullough, Gerard J., 1999. "Density and Integration Effects on Class I U.S. Freight Railroads," IDEI Working Papers 93, Institut d'Économie Industrielle (IDEI), Toulouse.
- Stephen Broadberry & Nicholas Crafts, 2003. "UK productivity performance from 1950 to 1979: a restatement of the Broadberry-Crafts view," Economic History Review, Economic History Society, vol. 56(4), pages 718-735, November.
- Foreman-Peck, James & Millward, Robert, 1994. "Public and Private Ownership of British Industry 1820-1990," OUP Catalogue, Oxford University Press, number 9780198203599.
- N. F. R. Crafts & T. C. Mills, 1994. "The industrial revolution as a macroeconomic epoch: an alternative view," Economic History Review, Economic History Society, vol. 47(4), pages 769-775, November.
- Filippini, Massimo & Maggi, Rico, 1993. "Efficiency and Regulation in the Case of the Swiss Private Railways," Journal of Regulatory Economics, Springer, vol. 5(2), pages 199-216, June.
- Broadberry,Stephen, 2009. "Market Services and the Productivity Race, 1850â€“2000," Cambridge Books, Cambridge University Press, number 9780521123143.
- Broadberry,Stephen, 2006. "Market Services and the Productivity Race, 1850â€“2000," Cambridge Books, Cambridge University Press, number 9780521867184.
- Mehdi Farsi & Massimo Filippini & William Greene, 2005. "Efficiency Measurement in Network Industries: Application to the Swiss Railway Companies," Journal of Regulatory Economics, Springer, vol. 28(1), pages 69-90, July.
- Mehdi Farsi & Massimo Filippini & William Greene, 2004. "Efficiency Measurement in Network Industries: Application to the Swiss Railway Companies," CEPE Working paper series 04-32, CEPE Center for Energy Policy and Economics, ETH Zurich.
- Albert Fishlow, 1966. "Productivity and Technological Change in the Railroad Sector, 1840–1910," NBER Chapters,in: Output, Employment, and Productivity in the United States after 1800, pages 583-646 National Bureau of Economic Research, Inc.
- McCloskey, Donald N. & Sandberg, Lars G., 1971. "From damnation to redemption: Judgments on the late victorian entrepreneur," Explorations in Economic History, Elsevier, vol. 9(1), pages 89-108.
- Greene, William, 2005. "Reconsidering heterogeneity in panel data estimators of the stochastic frontier model," Journal of Econometrics, Elsevier, vol. 126(2), pages 269-303, June. Full references (including those not matched with items on IDEAS)