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Business fluctuations in Imperial Austria's regions, 1867-1913: new evidence

Listed author(s):
  • Ciccarelli, Carlo
  • Missiaia, Anna

This paper presents annual estimates of total and per-capita GDP at 1910 prices for the regions of Imperial Austria from the origin of the Dual Monarchy (1867) to the eve of WWI (1913). The time paths of regional GDP are estimated from the yield of the tax on the transfer of real and financial property which is itself very highly correlated with the Schulze (2007) estimates of regional GDP for census years (1870, 1880, 1890, 1900, and 1910). The relative continuity or discontinuity of per-capita GDP growth partitions Austria's regions into two groups. Clear evidence of discontinuity (a “take-off”) is present in Carniola, Carinthia, Salzburg, Styria, Littoral, Tyrol, and to some extent Moravia. In Lower and Upper Austria, Bohemia, Silesia, Galicia, Bukovina, and Dalmatia there is instead no evidence of structural break in their growth rates. Significant drops in the level of pc GDP do occur (as in Lower Austria and Bohemia after the 1873 financial crash) but have moderate effects on the growth of subsequent years. Regional (per-capita) inequality is also evaluated using standard measures. The coefficient of variation and Theil index follow a U-shape curve: after a decline lasted about 15 years they both rise and point to, from ca. 1885, growing divergence.

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File URL: http://eprints.lse.ac.uk/55963/
File Function: Open access version.
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Paper provided by London School of Economics and Political Science, LSE Library in its series LSE Research Online Documents on Economics with number 55963.

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Length: 38 pages
Date of creation: Feb 2014
Handle: RePEc:ehl:lserod:55963
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  1. Cvrcek, Tomas, 2013. "Wages, Prices, and Living Standards in the Habsburg Empire, 1827–1910," The Journal of Economic History, Cambridge University Press, vol. 73(01), pages 1-37, March.
  2. Nicholas Crafts, 2005. "Regional Gdp In Britain, 1871-1911: Some Estimates," Scottish Journal of Political Economy, Scottish Economic Society, vol. 52(1), pages 54-64, February.
  3. Fenoaltea,Stefano, 2014. "The Reinterpretation of Italian Economic History," Cambridge Books, Cambridge University Press, number 9781107658080, December.
  4. Ciccarelli, Carlo & Fenoaltea, Stefano, 2007. "Business fluctuations in Italy, 1861-1913: The new evidence," Explorations in Economic History, Elsevier, vol. 44(3), pages 432-451, July.
  5. Crafts, N. F. R., 1983. "Gross national product in Europe 1870-1910: Some new estimates," Explorations in Economic History, Elsevier, vol. 20(4), pages 387-401, October.
  6. Julio Martínez-Galarraga & Joan R. Rosés & Daniel A. Tirado, 2015. "The Long-Term Patterns of Regional Income Inequality in Spain, 1860-2000," Regional Studies, Taylor & Francis Journals, vol. 49(4), pages 502-517, April.
  7. Hatton, Timothy J. & Williamson, Jeffrey G., 1998. "The Age of Mass Migration: Causes and Economic Impact," OUP Catalogue, Oxford University Press, number 9780195116519.
  8. Max‐Stephan Schulze & Nikolaus Wolf, 2012. "Economic nationalism and economic integration: the Austro‐Hungarian Empire in the late nineteenth century," Economic History Review, Economic History Society, vol. 65(2), pages 652-673, May.
  9. Carlo Ciccarelli & Gianni De Fraja, 2014. "The demand for tobacco in post-unification Italy," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 8(2), pages 145-171, May.
  10. repec:cte:whrepe:w10-03 is not listed on IDEAS
  11. David F. Good, 1978. "The Great Depression and Austrian Growth after 1873," Economic History Review, Economic History Society, vol. 31(2), pages 290-294, May.
  12. John Komlos, 1978. "Is the Depression in Austria after 1873 a “Myth”?," Economic History Review, Economic History Society, vol. 31(2), pages 287-289, May.
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