Economic Growth in the Mid Atlantic Region: Conjectural Estimates for 1720 to 1800
We employ the conjectural approach to estimate the growth of GDP per capita for the colonies and states of the mid-Atlantic region (Del., NJ, NY and Penn). In contrast to previous studies of the region's growth that relied heavily on the performance of the export sector, the conjectural method enables us to take into account the impact of domestic sector, in particular the production of agricultural products for the domestic market. We find that the region experienced modest growth of real GDP per capita. Although the rate of growth was modest in comparison to what would materialize in the late nineteenth century, it was faster than that of the Lower South in the eighteenth century, and at times as fast as that for the U.S. in the first half of the nineteenth century. In its heyday of growth from 1740 to 1750--before the dislocations produced by the spread of the Seven Years' War--real GDP per capita rose at 0.7 percent per year, driven by the growth of output per worker in both agriculture and nonagriculture, and by capital accumulation.
|Date of creation:||Jul 2011|
|Publication status:||published as Rosenbloom, Joshua L. & Weiss, Thomas, 2014. "Economic growth in the Mid-Atlantic region: Conjectural estimates for 1720 to 1800," Explorations in Economic History, Elsevier, vol. 51(C), pages 41-59.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
Web page: http://www.nber.org
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert Allen & Robert C. Allen, 2007. "Pessimism Preserved: Real Wages in the British Industrial Revolution," Economics Series Working Papers 314, University of Oxford, Department of Economics.
- Robert E. Gallman & John Joseph Wallis, 1992. "American Economic Growth and Standards of Living before the Civil War," NBER Books, National Bureau of Economic Research, Inc, number gall92-1.
- Peter H. Lindert & Jeffrey G. Williamson, 2011.
"American Incomes before and after the Revolution,"
NBER Working Papers
17211, National Bureau of Economic Research, Inc.
- David, Paul A., 1967. "The Growth of Real Product in the United States Before 1840: New Evidence, Controlled Conjectures," The Journal of Economic History, Cambridge University Press, vol. 27(02), pages 151-197, June.
- Robert E. Gallman & Thomas J. Weiss, 1969. "The Service Industries in the Nineteenth Century," NBER Chapters, in: Production and Productivity in the Service Industries, pages 287-381 National Bureau of Economic Research, Inc.
- Mancall, Peter C. & Weiss, Thomas, 1999. "Was Ecomomic Growth Likely in Colonial British North America?," The Journal of Economic History, Cambridge University Press, vol. 59(01), pages 17-40, March.
- Thomas J. Weiss, 1992. "U. S. Labor Force Estimates and Economic Growth, 1800-1860," NBER Chapters, in: American Economic Growth and Standards of Living before the Civil War, pages 19-78 National Bureau of Economic Research, Inc.
- Allen, Robert C. & Murphy, Tommy E. & Schneider, Eric B., 2012.
"The Colonial Origins of the Divergence in the Americas: A Labor Market Approach,"
The Journal of Economic History,
Cambridge University Press, vol. 72(04), pages 863-894, December.
- Robert C. Allen & Tommy E. Murphy & Eric B. Schneider, 2011. "The Colonial Origins of the Divergence in the Americas: A Labour Market Approach," Working Papers 402, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Kulikoff, Allan, 1979. "The Economic Growth of the Eighteenth-Century Chesapeake Colonies," The Journal of Economic History, Cambridge University Press, vol. 39(01), pages 275-288, March.
- Gregory Clark, 2005.
"The Condition of the Working Class in England, 1209-2004,"
Journal of Political Economy,
University of Chicago Press, vol. 113(6), pages 1307-1340, December.
- Gregory Clark, 2005. "The Condition of the Working-Class in England, 1209-2004," Working Papers 539, University of California, Davis, Department of Economics.
- Ball, D. E. & Walton, G. M., 1976. "Agricultural Productivity Change in Eighteenth-Century Pennsylvania," The Journal of Economic History, Cambridge University Press, vol. 36(01), pages 102-117, March.
- Peter C. Mancall & Joshua L. Rosenbloom & Thomas Weiss, 2000. "Conjectural Estimates of Economic Growth in the Lower South, 1720 to 1800," NBER Historical Working Papers 0126, National Bureau of Economic Research, Inc.
- Clark, Gregory, 2010.
"1381 and the Malthus Delusion,"
25466, University Library of Munich, Germany.
- Shepherd, James F. & Williamson, Samuel H., 1972. "The Coastal Trade of the British North American Colonies, 1768–1772," The Journal of Economic History, Cambridge University Press, vol. 32(04), pages 783-810, December.
- Marvin Towne & Wayne Rasmussen, 1960. "Farm Gross Product and Gross Investment in the Nineteenth Century," NBER Chapters, in: Trends in the American Economy in the Nineteenth Century, pages 255-316 National Bureau of Economic Research, Inc.
- Taylor, George Rogers, 1964. "American Economic Growth Before 1840: An Exploratory Essay," The Journal of Economic History, Cambridge University Press, vol. 24(04), pages 427-444, December.
- Main, Gloria L. & Main, Jackson T., 1988. "Economic Growth and the Standard of Living in Southern New England, 1640–1774," The Journal of Economic History, Cambridge University Press, vol. 48(01), pages 27-46, March.
- Thomas Weiss, 1989. "Economic Growth Before 1860: Revised Conjectures," NBER Historical Working Papers 0007, National Bureau of Economic Research, Inc.
- Broadberry, Stephen & Campbell, Bruce M.S. & van Leeuwen, Bas, 2013. "When did Britain industrialise? The sectoral distribution of the labour force and labour productivity in Britain, 1381–1851," Explorations in Economic History, Elsevier, vol. 50(1), pages 16-27.
- Grubb, Farley, 2004. "The circulating medium of exchange in colonial Pennsylvania, 1729-1775: new estimates of monetary composition, performance, and economic growth," Explorations in Economic History, Elsevier, vol. 41(4), pages 329-360, October.
When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:17215. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.