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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. de Vries,Jan & van der Woude,Ad, 1997. "The First Modern Economy," Cambridge Books, Cambridge University Press, number 9780521570619.
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    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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