The evolution of markets and the revolution of industry : a unified theory of growth

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Show simple item record Desmet, Klaus Parente, Stephen L.
dc.contributor.other Centro studi Luca d'Agliano 2012-05-21T18:21:45Z 2012-05-21T18:21:45Z 2009-10
dc.description.abstract This paper puts forth a unified theory of growth that captures a number of relevant features of countries' transitions from stagnant, predominantly rural economies to vibrant, industrialized economies that have been overlooked by the literature. In our theory, increasing variety of consumer goods and increasing firm size, which are the consequence of a gradual expansion in the market, sow the seeds for process innovation and an economys' take-off. We demonstrate this mechanism in a dynamic general equilibrium model calibrated to Englands long-run development, and explore how various factors affected the timing of its take-off
dc.description.sponsorship Financial aid from the European Commission (EFIGE Grant 225343 and HI-POD Grant 225551), the Comunidad de Madrid (PROCIUDAD-CM), and the Spanish Ministry of Science (ECO2008-01300) is acknowledged
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries Development Studies Working Papers
dc.relation.ispartofseries 284
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.subject.other Unified growth theory
dc.subject.other Industrial Revolution
dc.subject.other Innovation
dc.subject.other Competition
dc.subject.other Market revolution
dc.title The evolution of markets and the revolution of industry : a unified theory of growth
dc.type workingPaper
dc.subject.jel 014
dc.subject.jel 033
dc.subject.jel 041
dc.subject.jel N33
dc.subject.eciencia Economía
dc.rights.accessRights openAccess
dc.relation.projectID info:eu-repo/grantAgreement/EC/FP7/225551
dc.relation.projectID info:eu-repo/grantAgreement/EC/FP7/225343
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