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Agricultural revolution and industrialization
Angus C. Chu1; Pietro F. Peretto2; Xilin Wang3
2022-09
Source PublicationJOURNAL OF DEVELOPMENT ECONOMICS
ABS Journal Level3
ISSN0304-3878
Volume158Pages:102887
Abstract

This study explores how agricultural technology affects the endogenous takeoff of an economy in the Schumpeterian growth model. Due to the subsistence requirement for agricultural consumption, an improvement in agricultural technology reallocates labor from agriculture to the industrial sector. Therefore, agricultural improvement expands firm size in the industrial sector, which determines innovation and triggers an endogenous transition from stagnation to growth. Calibrating the model to data, we find that without the reallocation of labor from agriculture to the industrial sector in the early 19th century, the takeoff of the US economy would have been delayed by about four decades.

KeywordAgricultural Technology Endogenous Takeoff Innovation Economic Growth
DOI10.1016/j.jdeveco.2022.102887
URLView the original
Indexed BySSCI
Language英語English
WOS Research AreaBusiness & Economics
WOS SubjectEconomics
WOS IDWOS:000808237500001
PublisherELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS
Scopus ID2-s2.0-85131128661
Fulltext Access
Citation statistics
Document TypeJournal article
CollectionDEPARTMENT OF ECONOMICS
Corresponding AuthorXilin Wang
Affiliation1.Department of Economics, University of Macau, Macau, China
2.Department of Economics, Duke University, Durham, United States
3.China Center for Economic Studies, School of Economics, Fudan University, Shanghai, China
First Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Angus C. Chu,Pietro F. Peretto,Xilin Wang. Agricultural revolution and industrialization[J]. JOURNAL OF DEVELOPMENT ECONOMICS, 2022, 158, 102887.
APA Angus C. Chu., Pietro F. Peretto., & Xilin Wang (2022). Agricultural revolution and industrialization. JOURNAL OF DEVELOPMENT ECONOMICS, 158, 102887.
MLA Angus C. Chu,et al."Agricultural revolution and industrialization".JOURNAL OF DEVELOPMENT ECONOMICS 158(2022):102887.
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