Four centuries of British economic growth: The roles of technology and population

Jakob B. Madsen, James B Ang, Rajabrata Banerjee

Research output: Contribution to journalArticle

52 Citations (Scopus)

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.

Original languageEnglish
Pages (from-to)263-290
Number of pages28
JournalJournal of Economic Growth
Volume15
Issue number4
DOIs
Publication statusPublished - 1 Dec 2010
Externally publishedYes

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