Productivity growth in the industrial revolution: A new growth accounting perspective

• 成果类型: Article
• 署名作者: University of London; London School Economics & Political Science
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• 发表日期: 2004
• 页码: 521-535
• 关键词: motive power; 18th-century

摘要

The issue of why productivity growth during the British industrial revolution was slow despite the arrival of famous inventions is revisited using a growth accounting methodology based on an embodied innovation model. The results highlight the relatively small and long-delayed impact of steam on productivity growth even when capital deepening is taken into account. Even so, technological change including embodiment effects accounted entirely for the acceleration in labor productivity growth that allowed the economy to achieve modern economic growth.