Endogenous infrastructure development and spatial takeoff in the first industrial revolution
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This 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 plays 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.
Trew , A 2020 , ' Endogenous infrastructure development and spatial takeoff in the first industrial revolution ' , American Economic Journal: Macroeconomics , vol. 12 , no. 2 , pp. 43-93 . https://doi.org/10.1257/mac.20160162
American Economic Journal: Macroeconomics
Copyright © 2020 American Economic Association. This work has been made available online in accordance with publisher policies or with permission. Permission for further reuse of this content should be sought from the publisher or the rights holder. This is the author created accepted manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at https://doi.org/10.1257/mac.20160162
DescriptionThis research was supported by the Institute for New Economic Thinking grant #INO15-0002
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