Productivity, Innovation and Social Savings

  • Gerben Bakker
Part of the Palgrave Studies in Economic History book series (PEHS)


Since the late 1930s, economists have noted an increase in economic efficiency, leading to higher welfare levels and social savings. Key to understand this development is the quantification of the impact of innovations and new technologies. This chapter discusses growth accounting and allied methodologies and how they may help to quantify innovation-led increases in efficiency and welfare benefits.

JEL Classification

E01 N70 O47 

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Gerben Bakker
    • 1
  1. 1.London School of Economics and Political ScienceLondonUK

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