Crafts, Nicholas F. R.; Mills, Terence C.; Mulatu, Abay - London School of Economics and Political Science - 2005
This paper revisits the issue of the productivity performance of pre-World War I Britain’s railway system with an improved dataset and with modern time-series econometrics. We find a slowdown in TFP growth between 1850 and 1870, after which it stabilized at about 1.1%. An analysis of...
