English, Article, Journal or magazine article edition: Infrastructure Finance and Industrial Takeoff in the United Kingdom Alex William Trew

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Bookmark: http://trove.nla.gov.au/version/210429
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Infrastructure Finance and Industrial Takeoff in the United Kingdom
Author
  • Alex William Trew
Physical Description
  • preprint
Notes
  • That financial matters did not constrain industrial takeoff in the UK is generally accepted in the historical literature; in contrast, contemporary empirical analyses have found evidence that financial development can be a causal determinant of economic growth. We look to reconcile these findings by concentrating on a particular aspect of industrialising UK where inefficiencies in finance could have had bite: The finance of physical infrastructures. We document the historical record and develop the importance of spatial disaggregation and spillovers in both technological and financial development. We develop a simple model that captures the nature of infrastructure finance within a theory of endogenous growth where financial costs are endogenous. We argue that the conception of the finance-growth nexus as a largely static, aggregative phenomenon misses out a good deal of complexity and we relate that complexity to a number of implications for regulation of both financial systems and the emergence of infrastructures.
  • Finance and growth, economic history, infrastructure, economic integration.
  • RePEc:san:cdmawp:0809
Language
  • English
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