Economics, Econometrics and Finance
2 years ago

French industry in 19th century missed out on major scale economies.

Explorations in Economic History
Measuring returns to scale in nineteenth-century French industry*1
U DORASZELSKI

Paper Summary

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The study looked at whether French companies in the 1800s were too small. Some industries had increasing returns to scale, while others had constant returns. In the early 1800s, there were significant unexploited scale economies, but by the late 1800s, France didn't benefit much from scale economies.