Productivity and Machinery Investment: A Long Run Look 1870-1980
(224 K)
|
NBER Working Paper No. 3903
Issued in November 1991
NBER Program(s): EFG
Over the past century the long-run growth of six economies shows a strong association between investment in machinery and economic growth that holds both within and across nations and periods. A similar strong association holds for the post-world War II period for a broader cross section of nations. A number of considerations suggest that this association is causal, and that a high rate of machinery investment is a necessary prerequisite for rapid long-run productivity growth - a hypothesis also supported by narratives from the history of technology.
Published: De Long, J. Bradford. "Productivity and Machinery Investment: A Long Run Look 1870-1980." Journal of Economic History 53, 2 (June 1992): 307-24.
This paper is available as PDF (224 K) or via email.
Machine-readable bibliographic record -
MARC,
RIS,
BibTeX
|
|
|
About
Support
The research activities of the NBER are funded by grants from federal research agencies, by private foundations, and by generous donations from our corporate associates and from private individuals. The NBER is a non-profit, 501(c)(3) organization. For information on supporting the NBER, please contact:
Mr. Denis Healy, Director of Development
NBER
1050 Massachusetts Avenue
Cambridge, MA 02138-5398
ph: 617-868-3900
email: dhealy@nber.org
Close
