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Business Fluctuations in Imperial Austria's Regions, 1867-1913: New Evidence

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  • Carlo Ciccarelli

    ()
    (CEIS, University of Rome "Tor Vergata")

  • Anna Missiaia

    ()
    (London School of Economics)

Abstract

This paper presents annual estimates of total and per-capita GDP at 1910 prices for the regions of Imperial Austria from the origin of the Dual Monarchy (1867) to the eve of WWI (1913). The time paths of regional GDP are estimated from the yield of the tax on the transfer of real and financial property which is itself very highly correlated with the Schulze (2007) estimates of regional GDP for census years (1870, 1880, 1890, 1900, and 1910). The relative continuity or discontinuity of per-capita GDP growth partitions Austria's regions into two groups. Clear evidence of discontinuity (a "take-off") is present in Carniola, Carinthia, Salzburg, Styria, Littoral, Tyrol, and to some extent Moravia. In Lower and Upper Austria, Bohemia, Silesia, Galicia, Bukovina, and Dalmatia there is instead no evidence of structural break in their growth rates. Significant drops in the level of per-capita GDP do occur (as in Lower Austria and Bohemia after the 1873 financial crash) but have moderate effects on the growth of subsequent years. Regional (per-capita) inequality is also evaluated using standard measures. The coefficient of variation and Theil index follow a U-shaped curve: after a decline lasted about 15 years they both rise and point to, from ca. 1885, growing divergence.

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Bibliographic Info

Paper provided by Tor Vergata University, CEIS in its series CEIS Research Paper with number 312.

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Length: 41 pages
Date of creation: 11 Apr 2014
Date of revision: 11 Apr 2014
Handle: RePEc:rtv:ceisrp:312

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Related research

Keywords: Austria; Regions; GDP; Trend; Cycle; Convergence;

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References

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  1. Hatton, Timothy J. & Williamson, Jeffrey G., 1998. "The Age of Mass Migration: Causes and Economic Impact," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780195116519, October.
  2. Ciccarelli, Carlo & Fenoaltea, Stefano, 2007. "Business fluctuations in Italy, 1861-1913: The new evidence," Explorations in Economic History, Elsevier, Elsevier, vol. 44(3), pages 432-451, July.
  3. Carlo Ciccarelli & Gianni De Fraja, 2014. "The demand for tobacco in post-unification Italy," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), Association Française de Cliométrie (AFC), vol. 8(2), pages 145-171, May.
  4. Max-Stephan Schulze & Nikolaus Wolf, 2009. "Economic Nationalism and Economic Integration: The Austro-Hungarian Empire in the Late Nineteenth Century," CESifo Working Paper Series 2813, CESifo Group Munich.
  5. Kerstin Enflo & Martin Henning & Lennart Schön, 2010. "Swedish regional GDP 1855-2000 : estimations and general trends in the Swedish regional system," Working Papers in Economic History w10-03, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
  6. Cvrcek, Tomas, 2013. "Wages, Prices, and Living Standards in the Habsburg Empire, 1827–1910," The Journal of Economic History, Cambridge University Press, Cambridge University Press, vol. 73(01), pages 1-37, March.
  7. Nicholas Crafts, 2005. "Regional Gdp In Britain, 1871-1911: Some Estimates," Scottish Journal of Political Economy, Scottish Economic Society, vol. 52(1), pages 54-64, 02.
  8. Joan R. Rosés & Daniel A. Tirado & Julio Martínez-Galarraga, 2010. "The long-term patterns of regional income inequality in Spain (1860-2000)," Working Papers in Economic History wp10-08, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
  9. John Komlos, 1978. "Is the Depression in Austria after 1873 a “Myth”?," Economic History Review, Economic History Society, Economic History Society, vol. 31(2), pages 287-289, 05.
  10. Crafts, N. F. R., 1983. "Gross national product in Europe 1870-1910: Some new estimates," Explorations in Economic History, Elsevier, Elsevier, vol. 20(4), pages 387-401, October.
  11. David F. Good, 1978. "The Great Depression and Austrian Growth after 1873," Economic History Review, Economic History Society, Economic History Society, vol. 31(2), pages 290-294, 05.
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