RT Generic
T1 The evolution of markets and the revolution of industry : a unified theory of growth
A1 Desmet, Klaus
A1 Parente, Stephen L.
A2 Centro studi Luca d'Agliano, 
AB 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
YR 2009
FD 2009-10
LK https://hdl.handle.net/10016/14365
UL https://hdl.handle.net/10016/14365
LA eng
NO 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
DS e-Archivo
RD 26 may. 2024