Steam as a general purpose technology: A growth accounting perspective

被引:137
作者
Crafts, N [1 ]
机构
[1] London Sch Econ, London, England
关键词
D O I
10.1111/j.1468-0297.2003.00200.x
中图分类号
F [经济];
学科分类号
02 ;
摘要
The contribution of steam to British economic growth in the nineteenth century is estimated using growth accounting methods similar to those recently employed to examine the role of ICT. The results indicate that steam contributed little to growth before 1830 and had its peak impact about a hundred years after Watt's famous invention. Only with the advent of high-pressure steam after 1850 did the technology realise its potential. Compared with ICT, steam's impact on the annual rate of growth was modest. It is unlikely that these conclusions are vulnerable to quantification of hitherto unmeasured TFP spillovers.
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页码:338 / 351
页数:14
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