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http://hdl.handle.net/10419/56150
  

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dc.contributor.authorEdquist, Haralden_US
dc.contributor.authorHenrekson, Magnusen_US
dc.date.accessioned2012-03-28T13:04:42Z-
dc.date.available2012-03-28T13:04:42Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/56150-
dc.description.abstractThis study consists of an examination of productivity growth following three major technological breakthroughs: the steam power revolution, electrification and the ICT revolution. The distinction between sectors producing and sectors using the new technology is emphasized. A major finding for all breakthroughs is that there is a long lag from the time of the original invention until a substantial increase in the rate of productivity growth can be observed. There is also strong evidence of rapid price decreases for steam engines, electricity, electric motors and ICT products. However, there is no persuasive direct evidence that the steam engine producing industry and electric machinery had particularly high productivity growth rates. For the ICT revolution the highest productivity growth rates are found in the ICT-producing industries. We suggest that one explanation could be that hedonic price indexes are not used for the steam engine and the electric motor. Still, it is likely that the rate of technological development has been much more rapid during the ICT revolution compared to any of the previous breakthroughs.en_US
dc.language.isoengen_US
dc.publisherEkonomiska Forskningsinst. Stockholmen_US
dc.relation.ispartofseriesSSE/EFI Working Paper Series in Economics and Finance 562en_US
dc.subject.jelN10en_US
dc.subject.jelO10en_US
dc.subject.jelO14en_US
dc.subject.jelO40en_US
dc.subject.ddc330en_US
dc.subject.keywordelectrificationen_US
dc.subject.keywordgeneral purpose technologiesen_US
dc.subject.keywordICT revolutionen_US
dc.subject.keywordproductivity growthen_US
dc.subject.keywordsteam poweren_US
dc.subject.keywordTechnological breakthroughsen_US
dc.subject.stwProduktivitäten_US
dc.subject.stwTechnischer Fortschritten_US
dc.titleTechnological breakthroughs and productivity growthen_US
dc.typeWorking Paperen_US
dc.identifier.ppn39295690Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics

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