Growing at the production frontier. European aggregate growth, 1870-1914
The view of a 1870-1913 expanding European economy providing increasing welfare to everybody has been challenged by many, then and now. We focus on the amazing growth that was experienced, its diffusion and its sources, in the context of the permanent competition among European nation states. During 1870-193 the globalized European economy reached a “silver age”. GDP growth was quite rapid (2.15% per annum) and diffused all over Europe. Even discounting the high rates of population growth (1.06%), per capita growth was left at a respectable 1.08%. Income per capita was rising in every country, and the rates of improvement were quite similar. This was a major achievement after two generations of highly localized growth, both geographically and socially. Growth was based on the increased use of labour and capital, but a good part of growth (73 per cent for the weighted average of the best documented European countries) came out of total factor productivity –efficiency gains resulting from not well specified ultimate sources of growth. This proportion suggests that the European economy was growing at full capacity –at its production frontier. It would have been very difficult to improve its performance. Within Europe, convergence was limited, and it only was in motion after 1900. What happened was more the end of the era of big divergence rather than an era of convergence.
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.:
- O'Rourke, Kevin H. & Williamson, Jeffrey G., 1997.
"Around the European periphery 1870 1913: Globalization, schooling and growth,"
European Review of Economic History,
Cambridge University Press, vol. 1(02), pages 153-190, August.
- O'Rourke, Kevin Hjortshøj & Williamson, Jeffrey G, 1996. "Around the European Periphery 1870-1913: Globalization, Schooling and Growth," CEPR Discussion Papers 1343, C.E.P.R. Discussion Papers.
- Kevin H. O'Rourke & Jeffrey G. Williamson, 1995. "Around the European Periphery 1870-1913: Globalization, Schooling and Growth," NBER Working Papers 5392, National Bureau of Economic Research, Inc.
- Kevin H. O'Rourke & Jeffrey G. Williamson, 1995. "Around the European periphery 1870-1913 : globalization, schooling and growth," Working Papers 199517, School of Economics, University College Dublin.
- Offer, Avner, 1991. "The First World War: An Agrarian Interpretation," OUP Catalogue, Oxford University Press, number 9780198202790, December.
- repec:dgr:rugggd:no.5 is not listed on IDEAS
- Petra Moser, 2003.
"How Do Patent Laws Influence Innovation? Evidence from Nineteenth-Century World Fairs,"
NBER Working Papers
9909, National Bureau of Economic Research, Inc.
- Petra Moser, 2005. "How Do Patent Laws Influence Innovation? Evidence from Nineteenth-Century World's Fairs," American Economic Review, American Economic Association, vol. 95(4), pages 1214-1236, September.
- Guillaume Daudin & Matthias Morys & Kevin H. O’Rourke, 2008.
"Europe and Globalization, 1870-1914,"
Documents de Travail de l'OFCE
2008-17, Observatoire Francais des Conjonctures Economiques (OFCE).
- Prados de la Escosura, Leandro, 2000.
"International Comparisons of Real Product, 1820-1990: An Alternative Data Set,"
Explorations in Economic History,
Elsevier, vol. 37(1), pages 1-41, January.
- Prados de la Escosura, Leandro, 1998. "International comparisons of real product, 19820-1990: an alternative dataset," IFCS - Working Papers in Economic History.WH 6177, Universidad Carlos III de Madrid. Instituto Figuerola.
- Huberman, Michael & Minns, Chris, 2007. "The times they are not changin': Days and hours of work in Old and New Worlds, 1870-2000," Explorations in Economic History, Elsevier, vol. 44(4), pages 538-567, October.
- Schulze, Max-Stephan, 2000. "Patterns of growth and stagnation in the late nineteenth century Habsburg economy," European Review of Economic History, Cambridge University Press, vol. 4(03), pages 311-340, December.
- Smits, Jan-Pieter & Horlings, Edwin & Zanden, Jan Luiten van, . "Dutch GNP and its components, 1800-1913," GGDC Research Memorandum No.5, Groningen Growth and Development Centre, University of Groningen.
- Matthias Morys & Guillaume Daudin, 2008.
Economics Series Working Papers
395, University of Oxford, Department of Economics.
- Guilllaume Daudin, Matthias Morys and Kevin H. O'Rourke, 2008. "Globalization, 1870-1914," The Institute for International Integration Studies Discussion Paper Series iiisdp250, IIIS.
- B. Zorina Khan, 2005. "The Democratization of Invention: Patents and Copyrights in American Economic Development, 1790-1920," NBER Books, National Bureau of Economic Research, Inc, number khan05-1, Enero.
- Maddison, Angus, 1987. "Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 649-98, June.
- Malanima Paolo, 2006. "Alle origini della crescita in Italia 1820-1913," Rivista di storia economica, Società editrice il Mulino, issue 3, pages 307-330.
When requesting a correction, please mention this item's handle: RePEc:upf:upfgen:1179. 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 references are entirely missing, you can add them using this form.