Technological change and productivity in Spanish cotton industry. A contribution from business history: La Espana Industrial (1855-1930)

The main aim of this article is to contribute to the debate on economic growth factors through the study of the relationship between technological change and productivity in a labour-intensive industry, as cotton. The study emphasizes the value of a long-term business history perspective to clarify key aspects of economic history little known at added level. Thus, from primary sources, the article analyzes the case of La Espana Industrial, an integrated big urban firm. As a methodological novelty it vindicates expressing productivity in a homogenous measure to avoid inevitable distortions in the series. The empirical evidence reveals that, among other strategies of certain complexity adopted, technological change allowed some companies to face strong domestic competition with increases on productivity. However, new case studies have to be analyzed until having a detailed overview of the evolution of productivity in the Spanish industry.