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Structural Change and Europe's Golden Age

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  • Temple, Jonathan

Abstract

Most of the countries of Western Europe grew at unprecedented rates from the late 1940s until the early 1970s. Another feature of this period was dramatic structural change, as employment shifted from agriculture to manufacturing and services. This Paper uses growth accounting to measure the direct contribution of structural change to aggregate productivity growth. The conventional accounting framework is extended and then applied to Western Europe and the USA for the period 1950-90. The Paper quantifies the importance of structural change in explaining the Golden Age, the productivity slowdown, and the cross-country variation in post-war growth rates.

Suggested Citation

  • Temple, Jonathan, 2001. "Structural Change and Europe's Golden Age," CEPR Discussion Papers 2861, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:2861
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    References listed on IDEAS

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    1. Barro, Robert J, 1999. "Notes on Growth Accounting," Journal of Economic Growth, Springer, vol. 4(2), pages 119-137, June.
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    6. Moses Abramovitz, 1956. "Resource and Output Trends in the United States Since 1870," NBER Chapters,in: Resource and Output Trends in the United States Since 1870, pages 1-23 National Bureau of Economic Research, Inc.
    7. Dowrick, Steve & Gemmell, Norman, 1991. "Industrialisation, Catching Up and Economic Growth: A Comparative Study across the World's Capitalist Economies," Economic Journal, Royal Economic Society, vol. 101(405), pages 263-275, March.
    8. Sherman Robinson, 1971. "Sources of Growth in Less Developed Countries: A Cross-Section Study," The Quarterly Journal of Economics, Oxford University Press, vol. 85(3), pages 391-408.
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    Citations

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    Cited by:

    1. Davide Fiaschi, Andrea Mario Lavezzi and Angela Parenti, 2009. "Productivity Dynamics across European Regions: the Impact of Structural and Cohesion Funds," Discussion Papers 2009/84, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    2. Jonathan Temple & Ludger Wößmann, 2006. "Dualism and cross-country growth regressions," Journal of Economic Growth, Springer, vol. 11(3), pages 187-228, September.
    3. L. Rachel Ngai & Christopher A. Pissarides, 2004. "Balanced Growth With Structural Change," CEP Discussion Papers dp0627, Centre for Economic Performance, LSE.
    4. L. Rachel Ngai & Christopher A. Pissarides, 2007. "Structural Change in a Multisector Model of Growth," American Economic Review, American Economic Association, vol. 97(1), pages 429-443, March.
    5. Tomasz Marek Mickiewicz & Anna Zalewska, 2005. "De-industrialisation and the post-communist transition: Rowthorn and Wells' model revisited," UCL SSEES Economics and Business working paper series 59, UCL School of Slavonic and East European Studies (SSEES).
    6. Lepore, Amedeo, 2012. "L’andamento della spesa per l’intervento straordinario nel Mezzogiorno d’Italia, dalla golden age alla fine del XX secolo. (The trends in the expenditures of the extraordinary intervention in southern," De Computis "Revista Española de Historia de la Contabilidad". De Computis "Spanish Journal of Accounting History"., Asociación Española de Contabilidad y Administración de Empresas (AECA). Spanish Accounting and Business Administration Association., issue 16, pages 76-119, June.
    7. Thomas M. Steger, 2003. "Economic Growth and Sectoral Change under Resource Reallocation Costs," CER-ETH Economics working paper series 03/30, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    8. Gavin Cameron & Chris Wallace, 2002. "Macroeconomic Performance in the Bretton Woods Era and After," Oxford Review of Economic Policy, Oxford University Press, vol. 18(4), pages 479-494.
    9. Alvarez-Cuadrado, Francisco & Pintea, Mihaela I., 2009. "A quantitative exploration of the Golden Age of European growth," Journal of Economic Dynamics and Control, Elsevier, vol. 33(7), pages 1437-1450, July.
    10. Jaime Alonso-Carrera & Xavier Raurich, 2006. "Growth, Sectoral Composition, and the Wealth of Nations," Working Papers 278, Barcelona Graduate School of Economics.
    11. Stephen Nickell & Stephen Redding & Joanna Swaffield, 2008. "The Uneven Pace of Deindustrialisation in the OECD," The World Economy, Wiley Blackwell, vol. 31(9), pages 1154-1184, September.
    12. Barry Eichengreen & Albrecht Ritschl, 2009. "Understanding West German economic growth in the 1950s," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 3(3), pages 191-219, October.
    13. Fabio Monteforte, 2015. "Structural Transformation, the Push-Pull Hypothesis and the Labour Market," Bristol Economics Discussion Papers 15/654, Department of Economics, University of Bristol, UK, revised 01 Dec 2017.
    14. Luigi Cannari (editor), 2009. "The Mezzogiorno and regional policies," Workshop and Conferences 2, Bank of Italy, Economic Research and International Relations Area.

    More about this item

    Keywords

    growth accounting; labour reallocation; Structural Change;

    JEL classification:

    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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