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Endogenous Infrastructure Development and Spatial Takeoff in the First Industrial Revolution†

Endogenous Infrastructure Development and Spatial Takeoff in the First Industrial Revolution† AbstractThis paper develops a model in which the evolution of the transport sector occurs alongside the growth in trade and output of agricultural and manufacturing firms. Simulation output captures aspects of the historical record of England and Wales over 1710–1881. A number of counterfactuals demonstrate the role that the timing and spatial distribution of infrastructure development play in determining the timing of takeoff. There can be a role for policy in accelerating takeoff through improving infrastructure, but the spatial distribution of that improvement matters. (JEL H54, N53, N63, N73, N93, R12, R42) http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Economic Journal: Macroeconomics American Economic Association

Endogenous Infrastructure Development and Spatial Takeoff in the First Industrial Revolution†

American Economic Journal: Macroeconomics , Volume 12 (2) – Apr 1, 2020

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Publisher
American Economic Association
Copyright
Copyright © 2020 © American Economic Association
ISSN
1945-7715
DOI
10.1257/mac.20160162
Publisher site
See Article on Publisher Site

Abstract

AbstractThis paper develops a model in which the evolution of the transport sector occurs alongside the growth in trade and output of agricultural and manufacturing firms. Simulation output captures aspects of the historical record of England and Wales over 1710–1881. A number of counterfactuals demonstrate the role that the timing and spatial distribution of infrastructure development play in determining the timing of takeoff. There can be a role for policy in accelerating takeoff through improving infrastructure, but the spatial distribution of that improvement matters. (JEL H54, N53, N63, N73, N93, R12, R42)

Journal

American Economic Journal: MacroeconomicsAmerican Economic Association

Published: Apr 1, 2020

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