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- W3136379311 abstract "Long-term economic development involves four fundamental processes: the exploitation of increasing returns to specialization, the transition from household to market production, knowledge and human capital accumulation, and industrialization. In this paper, we integrate these processes into a coherent framework for thinking about economic history. Pre-industrial development is driven by increasing returns to specialization made possible by a growing population. Increasing specialization eventually activates a learning technology and initiates industrial growth, which carries the economy to a fully market-based balanced-growth path. Among other things, we attribute a role to population and market size that is consistent with the evidence." @default.
- W3136379311 created "2021-03-29" @default.
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- W3136379311 date "1994-01-02" @default.
- W3136379311 modified "2023-09-24" @default.
- W3136379311 title "Early Development, Working Paper 94-02" @default.
- W3136379311 hasPublicationYear "1994" @default.
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