Economic growth and the transition from traditional to modern energy in Sweden
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 economic growth 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 counterfactual simulation based on the econometric results. Even though the rate of technical change was higher for modern energy, innovation in the use of traditional...[Show more]
|Collections||ANU Research Publications|
|Source:||Energy Economics 46 (2014): 56-65|
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