Capital substitution in an industrial revolution

Peter Berg and Mark Staley ()

Canadian Journal of Economics, 2015, vol. 48, issue 5, 1975-2004

Abstract: A unified growth model is presented in which productivity growth is driven by learning-by-doing. We show that the growth rate of productivity is an increasing function of the share of capital. It is assumed that the industrial sector has a higher capital share than the agricultural sector and that the ability to substitute one output for the other in the construction of capital goods slowly rises over time. Two distinct regimes of constant growth emerge, connected by a rapid transition in which the growth rate of income increases by an order of magnitude, indicative of an industrial revolution.

JEL-codes: N10 (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/caje.12187 (text/html)
access restricted to subscribers

Related works:
Journal Article: Capital substitution in an industrial revolution (2015)
Working Paper: Capital Substitution in an Industrial Revolution (2012)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cje:issued:v:48:y:2015:i:5:p:1975-2004

Ordering information: This journal article can be ordered from
https://www.economic ... ionen/membership.php

Access Statistics for this article

Canadian Journal of Economics is currently edited by Zhiqi Chen

More articles in Canadian Journal of Economics from Canadian Economics Association Canadian Economics Association Prof. Werrner Antweiler, Treasurer UBC Sauder School of Business 2053 Main Mall Vancouver, BC, V6T 1Z2. Contact information at EDIRC.
Bibliographic data for series maintained by Prof. Werner Antweiler ().