Capabilities, Competition and Innovation Seminars
Engines of Growth: Railroads, Reallocation, and the Rise of American Manufacturing
Richard Hornbeck (The University of Chicago Booth School of Business)
Thursday 17 May 2018 13:45 - 15:00
SAL 2.04, 2nd Floor Conference Room, Sir Arthur Lewis Building, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
About this event
We examine the impacts of market integration on the development of American manufacturing, as railroads expanded through the latter half of the 19th century. Using county-by-industry data from the Census of Manufacturers, we estimate substantial impacts on manufacturing productivity growth from increases in county market access due to expansion of the railroad network. These productivity impacts are driven by increases in 'reallocative efficiency,' as input usage increased in areas where value marginal product exceeded marginal cost.
Participants are expected to adhere to the CEP Events Code of Conduct.
Directions
This event will take place in SAL 2.04, 2nd Floor Conference Room, Sir Arthur Lewis Building, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH.
The building is labelled SAL on the LSE campus map. You can also find us on Google Maps. For further information, go to contact us.This series is part of the CEP's Growth programme.