Four Centuries of British Economic Growth

The Roles of Technology and Population

Jakob B. Madsen, James B. Ang, Rajabrata Banerjee

Research output: Contribution to journalJournal articleResearchpeer-review

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
JournalJournal of Economic Growth
Volume15
Issue number4
Pages (from-to)263-290
Number of pages27
ISSN1381-4338
DOIs
Publication statusPublished - 2010

Cite this

Madsen, Jakob B. ; Ang, James B. ; Banerjee, Rajabrata. / Four Centuries of British Economic Growth : The Roles of Technology and Population. In: Journal of Economic Growth. 2010 ; Vol. 15, No. 4. pp. 263-290.
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Four Centuries of British Economic Growth : The Roles of Technology and Population. / Madsen, Jakob B.; Ang, James B.; Banerjee, Rajabrata.

In: Journal of Economic Growth, Vol. 15, No. 4, 2010, p. 263-290.

Research output: Contribution to journalJournal articleResearchpeer-review

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AU - Madsen, Jakob B.

AU - Ang, James B.

AU - Banerjee, Rajabrata

PY - 2010

Y1 - 2010

N2 - 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.

AB - 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.

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DO - 10.1007/s10887-010-9057-7

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JF - Journal of Economic Growth

SN - 1381-4338

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