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The Sources of Long-Run Growth in Spain, 1850-2000

  • Prados de la Escosura, Leandro
  • Rosés, Joan R.

Between 1850 and 2000, Spain’s real income increased by about 40-fold, at an average rate of 2.5 percent. The sources of this long-run growth are investigated using Jorgenson-type growth accounting analysis. We find that growth upsurges are closely related to increases in TFP. Spanish economic growth went through three successive phases. The century before 1950 was characterized by slow growth driven by factor accumulation. TFP improvements pushed up explosive growth during the Golden Age and mitigated the deceleration during the transition to democracy years (1975-86). Since the accession to the European Union Spain has experienced a dramatic productivity slowdown.

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Article provided by Cambridge University Press in its journal The Journal of Economic History.

Volume (Year): 69 (2009)
Issue (Month): 04 (December)
Pages: 1063-1091

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Handle: RePEc:cup:jechis:v:69:y:2009:i:04:p:1063-1091_00
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  1. Matilde Mas & Javier Quesada, 2005. "ICT and Economic Growth: A Quantification of Productivity Growth in Spain 1985-2002," OECD Statistics Working Papers 2005/4, OECD Publishing.
  2. Paul A. David, 2005. "Two Centuries of American Macroeconomic Growth From Exploitation of Resource Abundance to Knowledge-Driven Development," Macroeconomics 0502021, EconWPA.
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