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Post-war Growth: An Overview

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  • Crafts, Nicholas
  • Toniolo, Gianni

Abstract

The paper comprises a thorough survey of the literature on growth in Western Europe since 1950. This experience is put in the context both of long-run historical trends and the ideas emanating from recent work in growth economics. The exceptional nature of the Golden Age (c.1950-73) is confirmed and given an historical interpretation. Catch-up growth is seen as central to this period but not to be a pure neoclassical phenomenon. It is argued that theory has run ahead of measurement and that future research will need to look much more carefully at proxies for human capital formation and at determinants of ex-ante returns on investment.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1095.

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Date of creation: Jan 1995
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Handle: RePEc:cpr:ceprdp:1095

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Related research

Keywords: Economic Growth; Europe; Investment; Productivity Growth;

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Cited by:
  1. Albrecht Ritschl, 2005. "Der späte Fluch des Dritten Reichs: Pfadabhängigkeiten in der Entstehung der bundesdeutschen Wirtschaftsordnung," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(2), pages 151-170, 05.
  2. Palle Andersen & David Gruen, 1995. "Macroeconomic Policies and Growth," RBA Annual Conference Volume, in: Palle Andersen & Jacqueline Dwyer & David Gruen (ed.), Productivity and Growth Reserve Bank of Australia.
  3. Stephen Nickell & John Van Reenen, 2001. "Technological Innovation and Performance in the United Kingdom," CEP Discussion Papers dp0488, Centre for Economic Performance, LSE.
  4. Barry Eichengreen & Albrecht Ritschl, 2008. "Understanding West German Economic Growth in the 1950s," SFB 649 Discussion Papers SFB649DP2008-068, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
  5. Popović, Milenko, 2013. "Sources, Reserves and Convergence of the Serbian Economic Growth - Jobless Growth of the Serbian Economy," EconStor Conference Papers 82824, ZBW - German National Library of Economics.
  6. Mª Teresa Sanchis Llopis, 2005. "Disaggregated Productivity Growth and Technological Progress in the interpretation of Spanish Economic Growth, 1958-1975," Working Papers in Economic History dilf0503, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
  7. Lains, Pedro, 2003. "Catching up to the European core: Portuguese economic growth, 1910-1990," Explorations in Economic History, Elsevier, vol. 40(4), pages 369-386, October.
  8. Popović, Milenko & Čiymović, Mirjana, 2013. "The Sources of Growth in the Former SFRY Countries: Comparative Analysis," EconStor Conference Papers 82825, ZBW - German National Library of Economics.
  9. Rotte, Ralph & Zimmermann, Klaus F, 1998. " Fiscal Restraint and the Political Economy of EMU," Public Choice, Springer, vol. 94(3-4), pages 385-406, March.
  10. Hall, Stephen & Nixon, James, 2000. "Unemployment and the capital stock: a dynamic structural model of the UK supply side," Economic Modelling, Elsevier, vol. 17(3), pages 415-437, August.
  11. Peter Kramper, 2000. "From economic convergence to convergence in affluence? Income growth, household expenditure and the rise of mass consumption in Britain and West Germany, 1950-1974," Economic History Working Papers 22382, London School of Economics and Political Science, Department of Economic History.
  12. Albrecht Ritschl & Tobias Straumann, 2009. "Business cycles and economic policy, 1914-1945: a survey," Economic History Working Papers 22402, London School of Economics and Political Science, Department of Economic History.

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