The Dynamics of Smithian Growth

Evidence and the micro-foundations of economic growth

“…In some cases, it appears to have resulted from the growth of trade and specialization -the division of labour, as analysed by Adam Smith (1776) -and has thus been called "Smithian growth" by some economic historians (e.g. Kelly, 1997). However, in other cases, such as Chinese growth during the Song dynasty (960-1279), it was mainly due to a one-off transition from an economy based on wheat and millet to one based on rice, accompanying the major population shift to the south.…”

Business Networks, Production Chains, and Productivity: A Theory of Input-Output Architecture

“…Such a phase transition is a typical property of random graphs, a result associated with the Erdos-Renyi Theorem. See Kelly (1997) and Kelly (2005) for examples in which this kind of phase transition is given an economic interpretation.…”

Engel's law, Petty's law, and agglomeration

“…Such decreasing transportation costs have been driven by various factors: Mokyr (1990, pp. 126-135) and Glaeser and Kohlhase (2004) emphasized the role of technology; Chandler (1977, Ch.3) and Tedlow (1990, Ch.3) described the role of private enterprises; and Kelly (1997) and McDonald and McMillen (2007, pp. 47-49) mentioned the role of government.…”