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New understanding of Fogel's theory on the relationship between American railway and economic growth(PDF)

《长安大学学报（社科版）》[ISSN:1671-6248/CN:61-1391/C]

Issue:
2008年03期
Page:
1-6
Research Field:
交通运输经济与管理
Publishing date:
2008-09-20

Info

Title:
New understanding of Fogel's theory on the relationship between American railway and economic growth
Author(s):
OU Guo-li;  YAO Ying
School of Economics and Management, Beijing Jiaotong University, Beijing 100044, China
Keywords:
American economic history;  railway;  economic growth;  Fogel
PACS:
F533/537
DOI:
-
Abstract:
With the technological development of railway and other advancements such as express railway, magnetic suspension train and new transportation means, the railway is also characterized by its rapid, speed, vast amounts and good environmented protection. Faced with this new role in the economic growth, it is necessary to reexamine the role of railway now. The paper firstly reviews the understanding of the United States railway and economic growth by the traditional economic historian, and then analyzes the American economist Fogel's Theory on the railway. It is believed that the railway then was not absolutely necessary for economic growth of the United States in the 19th century. The authors think that Fogel explained the relationship between railway and economic growth by the means of empirical analysis with historical data and created a new way of studying history of economics, but he ignored the complexity of the problem and his simple mathematical model cannot completely reveal the role of railway in economic growth. In the end, some viewpoints about how to understand the relationship between railway and economic growth in China is put forward.

References:

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Memo

Memo:
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Last Update: 2008-09-20