IDEAS home Printed from https://ideas.repec.org/a/oup/ereveh/v24y2020i3p502-521..html
   My bibliography  Save this article

The Crafts–Harley view of German industrialization: an independent estimate of the income side of net national product, 1851–1913

Author

Listed:
  • Ulrich Pfister

Abstract

Novel information on land rent is used to estimate the income side of German net national product (NNP) in 1851–1913 without recourse to output side aggregates. The new series shows higher values during the initial part of the period of observation, which narrows the wedge that opens up between existing estimates of NNP before the 1880s. The results support a modified Crafts–Harley view of the first phase of German industrialization: despite rapid catch-up growth of industrial leading sectors from the 1840s to the 1870s, the pace of aggregate growth accelerated only gradually. The initially small size of the modern sector and the simultaneity of the first phase of industrialization and the first wave of globalization account for this paradox. The labor share remained largely constant; the decline of the land share in NNP was compensated by a rise of the capital share.

Suggested Citation

  • Ulrich Pfister, 2020. "The Crafts–Harley view of German industrialization: an independent estimate of the income side of net national product, 1851–1913," European Review of Economic History, European Historical Economics Society, vol. 24(3), pages 502-521.
    • Handle: RePEc:oup:ereveh:v:24:y:2020:i:3:p:502-521.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/ereh/hez009
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:ereveh:v:24:y:2020:i:3:p:502-521.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/ereh .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.