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Business Fluctuations in Imperial Austria's Regions, 1867-1913: New Evidence

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 per-capita 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-shaped curve: after a decline lasted about 15 years they both rise and point to, from ca. 1885, growing divergence.

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Paper provided by Tor Vergata University, CEIS in its series CEIS Research Paper with number 312.

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Length: 41 pages
Date of creation: 11 Apr 2014
Date of revision: 11 Apr 2014
Handle: RePEc:rtv:ceisrp:312
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  1. Ciccarelli, Carlo & De Fraja, Gianni, 2012. "The Demand for Tobacco in Post-Unification Italy," CEPR Discussion Papers 9197, C.E.P.R. Discussion Papers.
  2. 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.
  3. Fenoaltea,Stefano, 2014. "The Reinterpretation of Italian Economic History," Cambridge Books, Cambridge University Press, number 9781107658080.
  4. 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.
  5. Hatton, Timothy J. & Williamson, Jeffrey G., 1998. "The Age of Mass Migration: Causes and Economic Impact," OUP Catalogue, Oxford University Press, number 9780195116519, July.
  6. 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.
  7. 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, 05.
  8. Nicholas Crafts, 2004. "Regional GDP in Britain, 1871-1911: some estimates," Economic History Working Papers 22557, London School of Economics and Political Science, Department of Economic History.
  9. John Komlos, 1978. "Is the Depression in Austria after 1873 a “Myth”?," Economic History Review, Economic History Society, vol. 31(2), pages 287-289, 05.
  10. Kerstin Enflo & Martin Henning & Lennart Schön, 2010. "Swedish regional GDP 1855-2000 : estimations and general trends in the Swedish regional system," Working Papers in Economic History w10-03, Universidad Carlos III, Instituto Figuerola de Historia y Ciencias Sociales.
  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, 05.
  12. 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.
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