Railroad Impact in Backward Economies : Spain , 1850-1913

  title={Railroad Impact in Backward Economies : Spain , 1850-1913},
  author={Alfonso Herranz-Lonc{\'a}n and Antonio G{\'o}mez Mendoza and Patrick Karl O’Brien and William Summerhill},
This article reassesses the economic impact of Spanish railroads in 1850-1913, which has been usually considered to be substantially higher than in the most developed countries on the basis of the social saving methodology. The application of growth accounting techniques shows, by contrast, that the direct contribution of railroads to economic growth was lower in Spain than in the UK, mainly due to the low importance that railroad transport had within Spanish GDP before 1913. Railroads… CONTINUE READING