Franck, Raphaël; Galor, Oded - 2015 - This version: April 30th, 2015
This research explores the long-run effect of industrialization on the process of development. In contrast to … conventional wisdom that views industrial development as a catalyst for economic growth, highlighting its persistent effect on … development, it has had a detrimental effect on standards of living in the long-run. Exploiting exogenous source of regional …