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Lost exceptionalism? : comparative income and productivity in Australia and the United Kingdom, 1861-1948
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Broadberry, Stephen and Irwin, Douglas A., 1962-. (2007) Lost exceptionalism? : comparative income and productivity in Australia and the United Kingdom, 1861-1948. Economic Record, Vol.83 (No.262). pp. 262-274. ISSN 0013-0249
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Official URL: http://dx.doi.org/10.1111/j.1475-4932.2007.00413.x
Abstract
Australia had one of the highest per capita incomes in the world in the late nineteenth century, although this exceptional position subsequently eroded over time. This paper compares national income and sectoral labour productivity in Australia and the UK between 1861 and 1948 to uncover the underlying sources of Australia's high income and the reasons for its subsequent relative decline. We find that the country's higher per capita income was due primarily to higher labour productivity, because labour force participation, although higher in Australia than in the USA, was lower than in the UK. Australia had a substantial labour productivity lead in agriculture throughout the period, due to the importance of high value-added, non-arable farming, and a smaller lead in industry before World War I. The early productivity lead in industry was largely based on the importance of mining, and disappeared as manufacturing became more important. There was little productivity difference in services. These results reaffirm the importance of Australia's successful exploitation of its natural resource endowments in explaining the country's high initial income.
| Item Type: | Journal Article |
|---|---|
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Social Sciences > Economics |
| Library of Congress Subject Headings (LCSH): | Labor productivity -- Australia, Labor productivity -- United Kingdom |
| Journal or Publication Title: | Economic Record |
| Publisher: | Blackwell |
| ISSN: | 0013-0249 |
| Date: | 14 September 2007 |
| Volume: | Vol.83 |
| Number: | No.262 |
| Page Range: | pp. 262-274 |
| Identification Number: | 10.1111/j.1475-4932.2007.00413.x |
| Status: | Not Peer Reviewed |
| Access rights to Published version: | Open Access |
| URI: | http://wrap.warwick.ac.uk/id/eprint/147 |
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