Autore: De Long, J. Bradford
Titolo: Productivity growth and machinery investment: a long-run look, 1870-1980
Periodico: European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1992 - Fascicolo: 85 - Pagina iniziale: 3 - Pagina finale: 27

Over the past century in six major economies economic growth has been strongly associated with machinery investment, as is the case for a larger group of nations since 1950. The macroeconomic patterns and narratives of the history of technology both suggest that this association is causal—that a high rate of machinery investment appears a necessary prerequisite for rapid long-run growth—and points away from the possibilities that rapid growth is the cause of high machinery investment, or that a high rate of machinery investment is a good proxy for other factors that are important causes of growth.




Testo completo: http://hdl.handle.net/1814/436

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