Cookies?
Library Header Image
LSE Research Online LSE Library Services

A vision of the growth process in a technologically progressive economy: the United States, 1899-1941

Bakker, Gerben and Crafts, Nicholas and Woltjer, Pieter (2015) A vision of the growth process in a technologically progressive economy: the United States, 1899-1941. Economic History working papers, 226/2015. The London School of Economics and Political Science, London, UK.

[img]
Preview
PDF
Download (938kB) | Preview

Identification Number: 226/2015

Abstract

We develop new aggregate and sectoral Total Factor Productivity (TFP) estimates for the United States between 1899 and 1941 through better coverage of sectors and better measured labor quality, and show TFP-growth was lower than previously thought, broadly based across sectors, strongly variant intertemporally, and consistent with many diverse sources of innovation. We then test and reject three prominent claims. First, the 1930s did not have the highest TFP-growth of the twentieth century. Second, TFP-growth was not predominantly caused by four leading sectors. Third, TFP-growth was not caused by a ‘yeast process’ originating in a dominant technology such as electricity.

Item Type: Monograph (Working Paper)
Official URL: http://www.lse.ac.uk/economicHistory/home.aspx
Additional Information: © 2015 The Authors
Subjects: H Social Sciences > HC Economic History and Conditions
Sets: Departments > Economic History
Collections > Economists Online
Collections > United States Collection
Date Deposited: 22 Dec 2015 10:33
Last Modified: 06 Oct 2016 11:23
Projects: 360–53–102
Funders: STICERD, Netherlands Organisation for Scientific Research
URI: http://eprints.lse.ac.uk/id/eprint/64779

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics