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Openness, protectionism and Britain's productivity performance over the long-run
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Crafts, N. F. R. and Broadberry, S. N. (2010) Openness, protectionism and Britain's productivity performance over the long-run. Working Paper. Coventry, UK: Department of Economics, University of Warwick. CAGE Online Working Paper Series, Volume 2010 (Number 36).
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Text (Working paper)
WRAP_36.2010_crafts.pdf - Published Version Download (835Kb) | Preview |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
We explore the links between openness and economic performance in Britain between 1870 and 1999. The key findings are: (1) As a result of the openness of the British
economy, agriculture was unusually small in nineteenth century Britain, allowing resources to be deployed in the higher value added industrial and service sectors. This benefit of openness is rarely considered alongside the costs to British industry of retaining open markets when tariffs were being raised against British exports. (2) Many writers criticise the cosmopolitan service sector for neglecting domestic industry. However, this ignores the importance of the outward orientation of services for service sector productivity, and the growing importance of
services for productivity performance overall. (3) The trend of British industrial performance was not improved by protection when it was applied in the 1930s, despite the claims of the tariff reformers. Furthermore, protective attempts to avoid de-industrialisation after World War II had an adverse effect on productivity performance in industry and in the aggregate economy.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
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Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions |
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Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Great Britain -- Economic policy -- History, Industrial productivity -- Great Britain -- History, Protectionism -- Great Britain -- History | ||||
Series Name: | CAGE Online Working Paper Series | ||||
Publisher: | Department of Economics, University of Warwick | ||||
Place of Publication: | Coventry, UK | ||||
Official Date: | December 2010 | ||||
Dates: |
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Volume: | Volume 2010 | ||||
Number: | Number 36 | ||||
Institution: | University of Warwick | ||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Open Access (Creative Commons) | ||||
Date of first compliant deposit: | 1 August 2016 | ||||
Date of first compliant Open Access: | 1 August 2016 | ||||
Version or Related Resource: | A published version also appears in WRAP (http://wrap.warwick.ac.uk/44657/). | ||||
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