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British Economic Growth, 1270-1870: an output-based approach

Author

Listed:
  • Stephen Broadberry
  • Bruce Campbell
  • Alexander Klein
  • Mark Overton
  • Bas van Leeuwen

Abstract

This paper reconstructs GDP from the output side for medieval and early modern Britain. In contrast to the long run stagnation of living standards suggested by daily real wage rates, output-based GDP per capita exhibits modest but positive trend growth. One way of reconciling the two series is through variation in the annual number of days worked, but there are also reasons to doubt the representativeness of the sharp rise and fall of daily real wage rates in the late middle ages, which creates the impression of no trend improvement of living standards.

Suggested Citation

  • Stephen Broadberry & Bruce Campbell & Alexander Klein & Mark Overton & Bas van Leeuwen, 2012. "British Economic Growth, 1270-1870: an output-based approach," Studies in Economics 1203, School of Economics, University of Kent.
  • Handle: RePEc:ukc:ukcedp:1203
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    References listed on IDEAS

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    More about this item

    Keywords

    Economic Development; Economic Growth; National Income;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts

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