NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Technological Progress and Economic Transformation

Jeremy Greenwood, Ananth Seshadri

NBER Working Paper No. 10765
Issued in September 2004
NBER Program(s):   EFG

Growth theory can go a long way toward accounting for phenomena linked with U.S. economic development. Some examples are:

(i) the secular decline in fertility between 1800 and 1980,

(ii) the decline in agricultural employment and the rise in skill since 1800,

(iii) the demise of child labor starting around 1900,

(iv) the increase in female labor-force participation from 1900 to 1980,

(v) the baby boom from 1936 to 1972.

Growth theory models are presented to address all of these facts. The analysis emphasizes the role of technological progress as a catalyst for economic transformation.

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Document Object Identifier (DOI): 10.3386/w10765

Published: Greenwood, Jeremy & Seshadri, Ananth, 2005. "Technological Progress and Economic Transformation," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 19, pages 1225-1273 Elsevier.

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