EKH Makromackan seminarium - Björn Brey

Vid sitt besök i Lund som opponent på Jonathan Jayes disputation kommer Björn Brey, docent vid NHH i Bergen, att presentera egen pågående forskning (tillsammans med Jacob Weisdorf) på detta Makromackan seminarium. Det äger rum fredag 17 oktober, kl 10:15 i Alfa 1: 1104. Således inte ett lunchseminarium denna gång utan en Makrofika!

Combinatorial evolution in technology history

Björn Brey webbsida (nhh.no)

Välkomna!

Jonas

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Abstrakt: Why do some regions lead in technological revolutions while others fall behind? We address this question by studying Switzerland’s transition from mechanical waterwheels to hydroelectric power between 1815 and 1914. Exploiting historical variation in municipal water-rights regimes, we show that regions governed by private rights---normally celebrated as foundations of growth---experienced persistent disadvantages once hydropower emerged. Fragmented ownership created holdout problems and coordination failures, generating an institutional drag that slowed adoption and reduced long-run development. Event-study evidence demonstrates that cantonal reforms introducing concession-based use-it-or-lose-it clauses, akin to eminent domain, mitigated these frictions and accelerated adoption. Yet the legacy of private-rights regions endured, underscoring how institutions that foster investment in one technological era can impede progress in the next.