Crafts, N. F. R. (2011) British relative economic decline revisited. Working Paper. Coventry, UK: Department of Economics, University of Warwick. CAGE Online Working Paper Series, Volume 2011 (Number 42).

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Abstract

This paper examines the role of competition in productivity performance in Britain over the period from the late-nineteenth to the early twenty-first century. A detailed review of the evidence suggests that the weakness of competition from the 1930s to the 1970s undermined productivity growth but since the 1970s stronger competition has been a key ingredient in ending relative economic decline. The productivity implications of the retreat from competition resulted in large part from interactions with idiosyncratic British institutional structures in terms of corporate governance and industrial relations. This account extends familiar insights from cliometrics both analytically and chronologically.

Item Type:	Working or Discussion Paper (Working Paper)
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions
Divisions:	Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH):	Competition -- Great Britain, Great Britain -- Economic conditions -- 19th century, Great Britain -- Economic conditions -- 20th century, Industrial productivity -- Great Britain
Series Name:	CAGE Online Working Paper Series
Publisher:	Department of Economics, University of Warwick
Place of Publication:	Coventry, UK
Official Date:	May 2011
Dates:	Date Event May 2011 Published
Volume:	Volume 2011
Number:	Number 42
Number of Pages:	34
Institution:	University of Warwick
Status:	Not Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Open Access
Version or Related Resource:	Crafts, Nicholas (2009). British relative economic decline revisited. In: Economic History Society Annual Conference. Department of Economics, University of Warwick, 3-5 Apr 2009. An earlier conference paper version also appears in WRAP (http://wrap.warwick.ac.uk/44670/). Crafts, N. (2012). British relative economic decline revisited : the role of competition. Explorations in Economic History, 49(1), pp. 17-29. A later published version also appears in WRAP (http://wrap.warwick.ac.uk/42288/).
Related URLs:	Related item in WRAP Related item in WRAP

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