Technological Change and U.S. Productivity Growth in the Interwar Years

Journal of Economic History, Vol. 66, pp. 203-236, 2006

57 Pages Posted: 24 Feb 2008

See all articles by Alexander J. Field

Alexander J. Field

Santa Clara University - Leavey School of Business - Economics Department

Abstract

Manufacturing was responsible for almost all - 83 percent - of the growth of total factor productivity in the U.S. private nonfarm economy between 1919 and 1929. During the Depression manufacturing TFP growth was not as uniformly distributed, and only half as rapid, accounting for only 48 percent of PNE TFP growth. Yet the overall growth of the residual between 1929 and 1941 was the highest of any comparable period in the twentieth century. This resulted from the combination of a still potent manufacturing contribution with advances in transportation, public utilities, and distribution, fueled in part by investments in public infrastructure.

Keywords: Productivity, TFP, Technological Change

JEL Classification: O47, N12, N62, N72

Suggested Citation

Field, Alexander J., Technological Change and U.S. Productivity Growth in the Interwar Years. Journal of Economic History, Vol. 66, pp. 203-236, 2006, Available at SSRN: https://ssrn.com/abstract=1096787

Alexander J. Field (Contact Author)

Santa Clara University - Leavey School of Business - Economics Department ( email )

500 El Camino Real
Santa Clara, CA California 95053
United States
408 554 4348 (Phone)
408 554 2331 (Fax)

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
54
Abstract Views
544
rank
469,249
PlumX Metrics