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Title: Unravelling the Trail of a GPT: The Case of Electrical & Electronic Technologies from 1860 to 1930

Citation Type: Miscellaneous

Publication Year: 2017

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Abstract: It has been argued that episodes of acceleration in economic growth can be driven by particular technologies. These revolutionary technologies, often referred to as General Purpose Technologies (GPTs), have the power to change the pace and direction of economic progress. While historical accounts and theoretical models have advanced greatly in providing both, a precise and coherent characterization of GPTs and the economic consequences of its diffusion, empirical evidence is still scattered. This paper contributes to the literature in two ways, first it provides a way of characterizing GPTs using patent data and shows that the most iconic example, electricity, fulfils these criteria. Secondly, it documents the positive impact of the diffusion of electricity-related inventions on income per capita and wages at county level in the United States from 1860 to 1930. Results are in line with previous historical accounts on the subject, and are consistent with theoretical predictions.. Phone/Fax: +31 (0) 30 253 1368. Email: S.G.Petralia@uu.nl. I would like to thank all the participants at the University of Barcelona AQR seminar and the 2016 RIDGE Forum at the University of Buenos Aires for their useful comments. 1

Url: https://www.regionalstudies.org/wp-content/uploads/2018/07/Petralia_Draft.pdf

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Authors: Petralia, Sergio

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Data Collections: IPUMS USA

Topics: Other

Countries: United States