DP1333 Endogenous Growth: Lessons for and from Economic History
|Publication Date:||January 1996|
|Keyword(s):||Economic Growth, Endogenous Innovation, Total Factor Productivity|
|JEL(s):||N10, O47, O52|
|Programme Areas:||Human Resources|
|Link to this Page:||cepr.org/active/publications/discussion_papers/dp.php?dpno=1333|
The paper surveys both the usefulness of endogenous innovation models of growth in economic history and the implications of historical research for new growth theorists. It is suggested that economic historians should take endogenous innovation models seriously and that this will help them to integrate traditional historians' emphasis on the impact of institutions and policy with cliometric research. A review of historical research suggests that growth economists should pay more attention to learning effects and technological shocks. Further research into measurement issues is shown to be seriously needed, notably, into establishing the magnitude and sources of total factor productivity growth.