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British Economic Growth, 1270-1870: an output-based approach

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  • Stephen Broadberry

    ()

  • Bruce Campbell

    ()

  • Alexander Klein

    ()

  • Mark Overton

    ()

  • Bas van Leeuwen

    ()

Abstract

This paper reconstructs GDP from the output side for medieval and early modern Britain. In contrast to the long run stagnation of living standards suggested by daily real wage rates, output-based GDP per capita exhibits modest but positive trend growth. One way of reconciling the two series is through variation in the annual number of days worked, but there are also reasons to doubt the representativeness of the sharp rise and fall of daily real wage rates in the late middle ages, which creates the impression of no trend improvement of living standards.

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File URL: ftp://ftp.ukc.ac.uk/pub/ejr/RePEc/ukc/ukcedp/1203.pdf
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Bibliographic Info

Paper provided by Department of Economics, University of Kent in its series Studies in Economics with number 1203.

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Date of creation: Jan 2012
Date of revision:
Handle: RePEc:ukc:ukcedp:1203

Contact details of provider:
Postal: Department of Economics, University of Kent at Canterbury, Canterbury, Kent, CT2 7NP
Phone: +44 (0)1227 764000
Fax: +44 (0)1227 827850
Web page: http://www.ukc.ac.uk/economics/

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Keywords: Economic Development; Economic Growth; National Income;

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References

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  1. Hersh, Jonathan & Voth, Hans-Joachim, 2009. "Sweet Diversity: Colonial Goods and the Rise of European Living Standards after 1492," CEPR Discussion Papers 7386, C.E.P.R. Discussion Papers.
  2. Harley, C. Knick, 1982. "British Industrialization Before 1841: Evidence of Slower Growth During the Industrial Revolution," The Journal of Economic History, Cambridge University Press, vol. 42(02), pages 267-289, June.
  3. Feinstein, Charles H. & Pollard, Sidney (ed.), 1988. "Studies in Capital Formation in the United Kingdom 1750-1920," OUP Catalogue, Oxford University Press, number 9780198284086.
  4. R. C. Allen & J. L. Weisdorf, 2011. "Was there an ‘industrious revolution’ before the industrial revolution? An empirical exercise for England, c. 1300–1830," Economic History Review, Economic History Society, vol. 64(3), pages 715-729, 08.
  5. Bogart, Dan, 2005. "Turnpike trusts and the transportation revolution in 18th century England," Explorations in Economic History, Elsevier, vol. 42(4), pages 479-508, October.
  6. Harley, C.K., 1988. "Ocean Freight Rates And Productivity, 1740-1913: The Primacy Of Mechanical Invention Reaffirmed," UWO Department of Economics Working Papers 8802, University of Western Ontario, Department of Economics.
  7. Luis Angeles, 2007. "GDP per capita or Real Wages? Making sense of coflicting views on pre-industrial Europe," Working Papers 2007_11, Business School - Economics, University of Glasgow.
  8. Hans-Joachim Voth, 1997. "Time and Work in Eighteenth-Century London," Oxford University Economic and Social History Series _021, Economics Group, Nuffield College, University of Oxford.
  9. 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.
  10. Maddison, Angus, 2007. "Contours of the World Economy 1-2030 AD: Essays in Macro-Economic History," OUP Catalogue, Oxford University Press, number 9780199227204.
  11. Hornung, Erik, 2012. "Railroads and Micro-regional Growth in Prussia," CAGE Online Working Paper Series 80, Competitive Advantage in the Global Economy (CAGE).
  12. Gregory Clark, 2009. "The Macroeconomic Aggregates for England, 1209-2008," Working Papers 919, University of California, Davis, Department of Economics.
  13. Voth, Hans-Joachim, 2001. "The Longest Years: New Estimates Of Labor Input In England, 1760 1830," The Journal of Economic History, Cambridge University Press, vol. 61(04), pages 1065-1082, December.
  14. Broadberry, Stephen & Campbell, Bruce M.S. & van Leeuwen, Bas, 2013. "When did Britain industrialise? The sectoral distribution of the labour force and labour productivity in Britain, 1381–1851," Explorations in Economic History, Elsevier, vol. 50(1), pages 16-27.
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Citations

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Cited by:
  1. Sequeira, Tiago & Santos, Marcelo & Ferreira-Lopes, Alexandra, 2013. "Why Inventions Occurred in Some Countries and Not in Others?," MPRA Paper 51553, University Library of Munich, Germany.
  2. Franziska Tollnek & Joerg Baten, 2012. "Farmer Families at the Heart of the Educational Revolution: Which Occupational Group Inherited Human Capital in the Early Modern Era?," Working Papers 0033, European Historical Economics Society (EHES).
  3. Robert C. Allen, 2013. "The High Wage Economy and the Industrial Revolution: A Restatement," Oxford University Economic and Social History Series _115, Economics Group, Nuffield College, University of Oxford.
  4. Broadberry, Stephen, 2013. "Accounting For The Great Divergence," CAGE Online Working Paper Series 160, Competitive Advantage in the Global Economy (CAGE).
  5. Tepper, Alexander & Borowiecki, Karol Jan, 2013. "Accounting for Breakout in Britain: The Industrial Revolution through a Malthusian Lens," Discussion Papers of Business and Economics 14/2013, Department of Business and Economics, University of Southern Denmark.
  6. William D. Craighead & Pao-Lin Tien, 2013. "Nominal Shocks and Real Exchange Rates: Evidence from Two Centuries," Wesleyan Economics Working Papers 2013-002, Wesleyan University, Department of Economics.
  7. Morgan Kelly & Cormac Ó Gráda, 2012. "Agricultural Output, Calories and Living Standards in England before and during The Industrial Revolution," Working Papers 201212, School Of Economics, University College Dublin.
  8. Epifanio, Mariaelisa & Troeger, Vera E, 2013. "How much do children really cost? Maternity benefits and career opportunities of women in academia," CAGE Online Working Paper Series 171, Competitive Advantage in the Global Economy (CAGE).
  9. Miller, Marcus & Zhang, Lei, 2013. "Fiscal consolidation: Dr Pangloss meets Mr Keynes," CAGE Online Working Paper Series 159, Competitive Advantage in the Global Economy (CAGE).
  10. Greif, Avner & Iyigun, Murat, 2013. "What Did the Old Poor Law Really Accomplish? A Redux," IZA Discussion Papers 7398, Institute for the Study of Labor (IZA).
  11. António Henriques, 2014. "Plenty of Land, Land of Plenty. The Agrarian Output of Portugal (1311-20)," FEP Working Papers 520, Universidade do Porto, Faculdade de Economia do Porto.
  12. Alexandra M. de Pleijt & Jan Luiten van Zanden, 2013. "Accounting for the ‘Little Divergence’ What drove economic growth in preindustrial Europe, 1300-1800?," Working Papers 0046, Utrecht University, Centre for Global Economic History.
  13. Mauro Rota & Luca Spinesi, 2013. "At the Onset of the original capital accumulation," Departmental Working Papers of Economics - University 'Roma Tre' 0179, Department of Economics - University Roma Tre.
  14. Broadberry, Stephen & Campbell, Bruce M.S. & van Leeuwen, Bas, 2013. "When did Britain industrialise? The sectoral distribution of the labour force and labour productivity in Britain, 1381–1851," Explorations in Economic History, Elsevier, vol. 50(1), pages 16-27.

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