Abstract
This paper extends the previous work of Crafts, Leybourne, and Mills on trend growth in British industrial output over the period from 1700 to 1913. Recent developments in time series econometrics and economic growth theory are brought together with improved data on industrial production to present a reappraisal of the industrial revolution. This reappraisal confirms that trend growth experienced gradual acceleration over several decades before peaking in the second quarter of the 19th century, but now emphasizes the role of technological shocks and the unpredictability and lagged effects of macroinventions.
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