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Institutional Innovation and the Adoption of New Technologies : The Case of Steam

Berger, Thor LU and Ostermeyer, Vinzent LU (2025) In Journal of Economic History 85(3). p.844-873
Abstract

This paper documents how the advent of the limited liability corporation contributed to the diffusion of steam technology during Sweden's industrialization. Using longitudinal establishment-level data, we show that incorporation sharply raised the probability that industrial establishments adopted steam. Incorporation facilitated technology adoption partly by enabling smaller establishments to expand to a greater scale, where the use of steam became feasible. These results highlight that low barriers to incorporation may be an important lever for facilitating the diffusion of new technologies.

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author
and
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
Journal of Economic History
volume
85
issue
3
pages
30 pages
publisher
Cambridge University Press
external identifiers
  • scopus:105013867425
ISSN
0022-0507
DOI
10.1017/S0022050725100855
language
English
LU publication?
yes
id
cd2f4ece-7c5e-49f2-aca4-f4b86d5e2cfc
date added to LUP
2025-10-20 11:26:02
date last changed
2025-10-20 11:26:33
@article{cd2f4ece-7c5e-49f2-aca4-f4b86d5e2cfc,
  abstract     = {{<p>This paper documents how the advent of the limited liability corporation contributed to the diffusion of steam technology during Sweden's industrialization. Using longitudinal establishment-level data, we show that incorporation sharply raised the probability that industrial establishments adopted steam. Incorporation facilitated technology adoption partly by enabling smaller establishments to expand to a greater scale, where the use of steam became feasible. These results highlight that low barriers to incorporation may be an important lever for facilitating the diffusion of new technologies.</p>}},
  author       = {{Berger, Thor and Ostermeyer, Vinzent}},
  issn         = {{0022-0507}},
  language     = {{eng}},
  number       = {{3}},
  pages        = {{844--873}},
  publisher    = {{Cambridge University Press}},
  series       = {{Journal of Economic History}},
  title        = {{Institutional Innovation and the Adoption of New Technologies : The Case of Steam}},
  url          = {{http://dx.doi.org/10.1017/S0022050725100855}},
  doi          = {{10.1017/S0022050725100855}},
  volume       = {{85}},
  year         = {{2025}},
}