A var analysis of the transportation revolution in Europe
Author
Felis Rota, MartaPublisher
UAM. Departamento de Análisis Económico, Teoría Económica e Historia EconómicaDate
2014-12Serie/Num.
Economic Analysis Working Paper Series. Economic History. 01/2014ISSN
1885-6888Subjects
VAR; Railways; Growth; Comparative economic history; EconomíaAbstract
During the second half of the 19th century transportation costs decreased sharply.
Among the most notable technological advances that lead to the transportation
revolution we find the arrival of the railways. This paper provides a quantitative
analysis of the expansion of the railways at the time of the so-called First
Globalization in European countries through a vector autoregressive analysis. Total
mileage of the railways has been obtained through GIS software for every
European country, via a long process of digitalization of historical atlases. Then the
vector autoregressive analysis and the impulse-response functions show the
interaction between railways and GDP. I find interactions going in both directions of
the VAR, and that the persistence of the effects varies from country to country.
Thanks to this method, we can compare differentiated patterns of development
associated to idiosyncratic transportation revolutions in Europe
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