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Spatial Competition, Innovation and Institutions: The Industrial Revolution and the Great Divergence / Klaus Desmet, Avner Greif, Stephen Parente.
- Format:
- Book
- Author/Creator:
- Desmet, Klaus.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w24727.
- NBER working paper series no. w24727
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Spatial Competition, Innovation and Institutions
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2018.
- Summary:
- A market-size-only theory of industrialization cannot explain why England developed nearly two centuries before China. One shortcoming of such a theory is its exclusive focus on producers. We show that once we incorporate the incentives of factor suppliers' organizations such as craft guilds, industrialization no longer depends on market size, but on spatial competition between the guilds' jurisdictions. We substantiate our theory (i) by providing historical and empirical evidence on the relation between spatial competition, craft guilds and innovation, and (ii) by showing the calibrated model correctly predicts the timings of the Industrial Revolution and the Great Divergence.
- Notes:
- Print version record
- June 2018.
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