The Character of growth before 'modern economics growth'? The GDP of Holland between 1347 and 1807
AbstractOn the basis of a newly constructed dataset of the national accounts of the province of Holland in the period between 1347 and 1800, we analyze the pattern of growth in this region, which was one of the most prosperous and dynamic parts of the pre modern European economy. We demonstrate that this economy was characterized by almost continuous but highly unstable economic growth caused mainly by exogenous shocks related to international trade and shipping, and harvest fluctuations. The causes of this growth vary over time. Yet, the start of the Golden Age was characterized by the increase of total factor productivity. TFP-growth was an important factor behind growth in the period until the 1620s, was negative during the middle decades of the 17th century, and became positive again after the 1660s. This suggests a surge of technological change during the 1540-1620 period, followed by much more incremental changes in the next two centuries.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Utrecht University, Centre for Global Economic History in its series Working Papers with number 0004.
Length: 82 pages
Date of creation: Jul 2011
Date of revision:
GDP; national accounts; Holland; economic growth; historical development;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- BAS J. P. van BAVEL & JAN LUITEN van ZANDEN, 2004. "The jump-start of the Holland economy during the late-medieval crisis, c.1350-c.1500 -super-1 ," Economic History Review, Economic History Society, vol. 57(3), pages 503-532, 08.
- Álvarez-Nogal, Carlos & Prados de la Escosura, Leandro, 2011.
"The Rise and Fall of Spain (1270-1850),"
CEPR Discussion Papers
8369, C.E.P.R. Discussion Papers.
- Johan Fourie & Jan Luiten van Zanden, 2012.
"GDP in the Dutch Cape Colony: The national accounts of a slave-based society,"
04/2012, Stellenbosch University, Department of Economics.
- Johan Fourie & Jan Luiten van Zanden, 2012. "GDP in the Dutch Cape Colony: The national accounts of a slave-based society," Working Papers 0030, Utrecht University, Centre for Global Economic History.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sarah Carmichael).
If references are entirely missing, you can add them using this form.