The Origins of American Industrial Success: Evidence from the US Portland Cement Industry

Abstract

The contributions of innovations, factor endowments and institutions to American industrialization are examined through analysing the rise of the American portland cement industry. Minerals abundance contributed in multiple ways to the spectacular rise of the industry from the 1890s.However, the results of a structural econometric analysis of entry suggests geological surveys, institutions highlighted by David and Wright, played a contributing rather than critical role in the American portland cement industry overcoming incumbent European portland cement and American natural cement producers.