Publication: Productivity and transition in Swedish iron and steel, 1870-1940
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2007-06
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Abstract
This paper would like to analyse how Swedish iron and steel entrepreneurs
reacted to the strains of increasing competition on world markets which
affected the industry between 1870 and 1940. It implicitly searches for
readjustments taken by the sector as a whole in order to increase productivity.
A first part of the paper presents the breakdown into periods and the
background to the transitions we are going to examine. We then go on to
describe the data we have assembled for the contrast both from national
accounts and complementary sources. We contrast the coherence of the data
series by estimating total factor productivity with a primal and a dual approach
and by looking at factor substitution and relative prices. Next we examine the
contribution to growth of the different inputs: labour, capital, resources and
TFP. We find evidence for the industry reacting to competitive strains and
overall we find TFP as the main responsible force.
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Keywords
Iron, Steel, Sweden, Total factor productivity, Dual estimate