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Persistent but not consistent: The growth of national income in Holland 1347–1807

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  • van Zanden, Jan Luiten
  • van Leeuwen, Bas

Abstract

In this paper we construct a detailed dataset of the national accounts of Holland (1347–1807). Using this dataset, we demonstrate that this economy was characterized by persistent economic growth caused by, depending on the period, structural change (share of industry and services in the economy increases), technological development, and factor substitution. During the entire period GDP per capita increased by on average 0.19% per year. This persistent growth, however, was highly unstable due largely to the importance of international services in the economy.

Suggested Citation

  • van Zanden, Jan Luiten & van Leeuwen, Bas, 2012. "Persistent but not consistent: The growth of national income in Holland 1347–1807," Explorations in Economic History, Elsevier, vol. 49(2), pages 119-130.
  • Handle: RePEc:eee:exehis:v:49:y:2012:i:2:p:119-130
    DOI: 10.1016/j.eeh.2011.11.002
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    References listed on IDEAS

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    1. van Bavel, Bas (B.J.P.), 2003. "Early Proto-industrialization in the Low Countries? The Importance and Nature of Market-oriented Non-agricultural Activities on the Countryside in Flanders and Holland," MPRA Paper 42361, University Library of Munich, Germany.
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    5. Van Zanden, Jan Luiten, 2002. "Taking the measure of the early modern economy: Historical national accounts for Holland in 1510/14," European Review of Economic History, Cambridge University Press, vol. 6(02), pages 131-163, August.
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    8. Pritchett, Lant, 2000. "Understanding Patterns of Economic Growth: Searching for Hills among Plateaus, Mountains, and Plains," World Bank Economic Review, World Bank Group, vol. 14(2), pages 221-250, May.
    9. Mendels, Franklin F., 1972. "Proto-industrialization: The First Phase of the Industrialization Process," The Journal of Economic History, Cambridge University Press, vol. 32(01), pages 241-261, March.
    10. de Vries,Jan & van der Woude,Ad, 1997. "The First Modern Economy," Cambridge Books, Cambridge University Press, number 9780521578257, May.
    11. van Zanden, Jan Luiten & van Tielhof, Milja, 2009. "Roots of growth and productivity change in Dutch shipping industry, 1500-1800," Explorations in Economic History, Elsevier, vol. 46(4), pages 389-403, October.
    12. Gregory Clark, 2007. "Introduction to A Farewell to Alms: A Brief Economic History of the World," Introductory Chapters,in: A Farewell to Alms: A Brief Economic History of the World Princeton University Press.
    13. Jan Luiten van Zanden & Arthur van Riel, 2004. "Introduction to The Strictures of Inheritance: The Dutch Economy in the Nineteenth Century," Introductory Chapters,in: The Strictures of Inheritance: The Dutch Economy in the Nineteenth Century Princeton University Press.
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    15. Malanima, Paolo, 2011. "The long decline of a leading economy: GDP in central and northern Italy, 1300–1913," European Review of Economic History, Cambridge University Press, vol. 15(02), pages 169-219, August.
    16. Buringh, Eltjo & Van Zanden, Jan Luiten, 2009. "Charting the “Rise of the West”: Manuscripts and Printed Books in Europe, A Long-Term Perspective from the Sixth through Eighteenth Centuries," The Journal of Economic History, Cambridge University Press, vol. 69(02), pages 409-445, June.
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    Citations

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    Cited by:

    1. Peter Foldvari & Bas van Leeuwen & Jan Luiten van Zanden, 2012. "The contribution of migration to economic development in Holland and the Netherlands 1510-1900," Working Papers 0025, Utrecht University, Centre for Global Economic History.
    2. Broadberry, Stephen & Custodis, Johann & Gupta, Bishnupriya, 2015. "India and the great divergence: An Anglo-Indian comparison of GDP per capita, 1600–1871," Explorations in Economic History, Elsevier, vol. 55(C), pages 58-75.
    3. Alexandra M. de Pleijt & Jan Luiten van Zanden, 2016. "Accounting for the “Little Divergence”: What drove economic growth in pre-industrial Europe, 1300–1800?," European Review of Economic History, Oxford University Press, vol. 20(4), pages 387-409.
    4. repec:eee:exehis:v:64:y:2017:i:c:p:1-20 is not listed on IDEAS
    5. Bas van Leeuwen & Jieli van Leeuwen-Li & Reinhard Pirngruber, 2013. "The standard of living in ancient societies: a comparison between the Han Empire, the Roman Empire, and Babylonia," Working Papers 0045, Utrecht University, Centre for Global Economic History.
    6. Shi Zhihong Yuping & Xuyi & Ni Yuping & Bas van Leeuwen, 2015. "Chinese National Income, ca. 1661-1933," Working Papers 0062, Utrecht University, Centre for Global Economic History.
    7. Xu, Yi & Foldvari, Peter & Van Leeuwen, Bas, 2013. "Human capital in Qing China: economic determinism or a history of failed opportunities?," MPRA Paper 43525, University Library of Munich, Germany.
    8. Broadberry, Stephen, 2013. "Accounting for the great divergence," Economic History Working Papers 54573, London School of Economics and Political Science, Department of Economic History.
    9. Dennison, Tracy & Ogilvie, Sheilagh, 2014. "Does the European Marriage Pattern Explain Economic Growth?," The Journal of Economic History, Cambridge University Press, vol. 74(03), pages 651-693, September.
    10. Roger Fouquet & Stephen Broadberry, 2015. "Seven Centuries of European Economic Growth and Decline," Journal of Economic Perspectives, American Economic Association, vol. 29(4), pages 227-244, Fall.
    11. Peter Foldvari & Bas Leeuwen & Jan Zanden, 2013. "The Contribution of Migration to Economic Development in Holland 1570–1800," De Economist, Springer, vol. 161(1), pages 1-18, March.
    12. Broadberry, Stephen & Gardner, Leigh, 2014. "African economic growth in a European mirror: a historical perspective," Economic History Working Papers 56493, London School of Economics and Political Science, Department of Economic History.
    13. Broadberry, Stephen & Ghosal, Sayantan & Proto, Eugenio, 2017. "Anonymity, efficiency wages and technological progress," Journal of Development Economics, Elsevier, vol. 127(C), pages 379-394.
    14. van den Heuvel, Danielle & Ogilvie, Sheilagh, 2013. "Retail development in the consumer revolution: The Netherlands, c. 1670–c. 1815," Explorations in Economic History, Elsevier, vol. 50(1), pages 69-87.
    15. Lemin Wu & Rohan Dutta & David K Levine & Nicholas W Papageorge, 2014. "Entertaining Malthus: Bread, Circuses and Economic Growth," Levine's Bibliography 786969000000000853, UCLA Department of Economics.
    16. Broadberry, Stephen & Gardner, Leigh, 2013. "Africa's Growth Prospects in a European mirror: a Historical Perspective," CAGE Online Working Paper Series 172, Competitive Advantage in the Global Economy (CAGE).
    17. repec:spr:cliomt:v:11:y:2017:i:3:d:10.1007_s11698-016-0154-5 is not listed on IDEAS
    18. Ogilvie, Sheilagh & Carus, A.W., 2014. "Institutions and Economic Growth in Historical Perspective," Handbook of Economic Growth,in: Handbook of Economic Growth, edition 1, volume 2, chapter 8, pages 403-513 Elsevier.

    More about this item

    Keywords

    Holland; GDP; Schumpeterian growth; Smithian growth; Growth accounting;

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N33 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: Pre-1913
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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