作者：BROWN, JC
摘要：This article examines the causes for the relatively high degree of vertical integration in the German cotton textile industry before 1914. Underdeveloped input and output markets exposed German textile firms to price risks not faced by English firms that had access to highly-developed cotton, yarn, and cloth markets. In addition, tariff protection may have prompted integration by its impact on market development. In the weaving sector in particular, the response to this structure of markets wa...
作者：National Bureau of Economic Research
摘要：Over the past century in six major economies, economic growth has been strongly associated with machinery investment, as is the case for a larger group of nations since 1950. Both macroeconomic patterns and narratives of the history of technology suggest that this association is causal-that a high rate of machinery investment appears to be a necessary prerequisite for rapid long-run growth-and points away from possibilities that rapid growth is the cause of high machinery investment or that a ...
