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Economic growth and the transition from traditional to modern energy in Sweden

In English

Författare

Summary, in English

We examine the role of substitution from traditional to modern energy carriers and of

differential rates of innovation in the use of each of these in Sweden from 1850 to 1950.

We use a simple growth model with a nested CES production function and exogenous

factor augmenting technological change and carry out a growth accounting

decomposition based on the econometric results. Energy and energy augmenting

technological change contributed more than a third of the economic growth in this

period. Even though the rate of technical change was much larger for modern energy,

innovation in the use of traditional energy carriers contributed more to growth between

1850 and 1890, since the cost share of traditional energy was so much larger than that

of modern energy in that period. However, after 1890 we find that modern energy

contributed much more to economic growth than traditional energy, but increasingly

labor augmenting technological change and capital accumulation became the most

important drivers of growth in the final decades of the period.

Publiceringsår

2013

Språk

Engelska

Dokumenttyp

Working paper

Förlag

CAMA Working Paper Series

Ämne

  • Economic History

Nyckelord

  • energy transition
  • coal
  • modern energy
  • traditional energy

Status

Published