EconPapers    
Economics at your fingertips  
 

Flowers of evil? Industrialization and long run development

Raphael Franck () and Oded Galor ()

Journal of Monetary Economics, 2021, vol. 117, issue C, 108-128

Abstract: Is industrialization conducive for economic development in the long-run? Exploiting exogenous variation in the diffusion of steam engines across 19th century France, the research suggests that early industrialization has had an adverse effect on long-run prosperity, stemming from the negative impact of the adoption of unskilled-labor-intensive technologies in early stages of industrialization on contemporary levels of human capital and thus the incentive to adopt skill-intensive technologies. The research suggests that characteristics that enabled the onset of industrialization, rather than industrial technology per se, have been the source of prosperity among developed economies that experienced earlier industrialization.

Keywords: Economic growth; Human capital; Industrialization; Steam engine; Cultural inertia (search for similar items in EconPapers)
JEL-codes: N33 N34 O14 O33 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0304393219302144
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Flowers of Evil? Industrialization and Long Run Development (2018) Downloads
Working Paper: Flowers of Evil? Industrialization and Long Run Development (2018) Downloads
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:eee:moneco:v:117:y:2021:i:c:p:108-128

DOI: 10.1016/j.jmoneco.2019.12.001

Access Statistics for this article

Journal of Monetary Economics is currently edited by R. G. King and C. I. Plosser

More articles in Journal of Monetary Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

 
Page updated 2022-01-08
Handle: RePEc:eee:moneco:v:117:y:2021:i:c:p:108-128