Four Centuries of British Economic Growth: The Roles of Technology and Population

Jakob Madsen, James Ang and Rajabrata Banerjee

No 03-10, Development Research Unit Working Paper Series from Monash University, Department of Economics

Abstract: Using long historical data for Britain over the period 1620-2006, this paper seeks to explain the importance of innovative activity, population growth and other factors in inducing the transition from the Malthusian trap to the post-Malthusian growth regime. Furthermore, the paper tests the ability of two competing second-generation endogenous growth models to account for the British growth experience. The results suggest that innovative activity was an important force in shaping the Industrial Revolution and that the British growth experience is consistent with Schumpeterian growth theory.

Keywords: endogenous growth; British Industrial Revolution (search for similar items in EconPapers)
JEL-codes: O30 O40 (search for similar items in EconPapers)
Pages: 49 pages
Date: 2010-05
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Citations: View citations in EconPapers (70)

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Related works:
Journal Article: Four centuries of British economic growth: the roles of technology and population (2010)
Working Paper: Four Centuries of British Economic Growth: The Roles of Technology and Population (2010)
Working Paper: Four Centuries of British Economic Growth: The Roles of Technology and Population (2010)
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