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A quantitative exploration of the Golden Age of European growth

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  • Alvarez-Cuadrado, Francisco
  • Pintea, Mihaela I.

Abstract

Income per capita in some Western European countries more than tripled in the two and a half decades that followed World War II. The literature has identified several factors behind this outstanding growth episode, specifically; structural change, the Marshall Plan combined with the public provision of infrastructure, the surge of intra-European trade, and the reconstruction process that followed the war. This paper is an attempt to formalize and quantify the contribution of each one of these factors to post-war growth. Our results highlight the importance of reconstruction growth and structural change, and point to the limited role of the Marshall Plan, and the late contribution of intra-European trade.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Dynamics and Control.

Volume (Year): 33 (2009)
Issue (Month): 7 (July)
Pages: 1437-1450

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Handle: RePEc:eee:dyncon:v:33:y:2009:i:7:p:1437-1450

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Web page: http://www.elsevier.com/locate/jedc

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Keywords: Economic growth European economic history 1913- CGE models;

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References

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Citations

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Cited by:
  1. Alvarez-Cuadrado, Francisco, 2008. "Growth outside the stable path: Lessons from the European reconstruction," European Economic Review, Elsevier, vol. 52(3), pages 568-588, April.
  2. Diego A. Comin & Bart Hobijn, 2010. "Technology Diffusion and Postwar Growth," Harvard Business School Working Papers 11-027, Harvard Business School.
  3. Julen ESTEBAN-PRETEL & SAWADA Yasuyuki, 2009. "On the Role of Policy Interventions in Structural Change and Economic Development: The Case of Postwar Japan," Discussion papers 09001, Research Institute of Economy, Trade and Industry (RIETI).
  4. Lepore, Amedeo, 2012. "L’andamento della spesa per l’intervento straordinario nel Mezzogiorno d’Italia, dalla golden age alla fine del XX secolo. (The trends in the expenditures of the extraordinary intervention in so," De Computis "Revista Española de Historia de la Contabilidad". De Computis "Spanish Journal of Accounting History"., Asociación Española de Contabilidad y Administración de Empresas (AECA). Spanish Accounting and Business Administration Association., issue 16, pages 76-119, June.

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