The Library
British economic growth and the business cycle, 1700-1870 : annual estimates
Tools
Broadberry, S. N. and Leeuwen, Bas van (2010) British economic growth and the business cycle, 1700-1870 : annual estimates. Working Paper. Coventry, UK: Department of Economics, University of Warwick. CAGE Online Working Paper Series, Volume 2010 (Number 20).
|
Text (Working paper)
WRAP_20.2010_broadberry_complete.pdf - Published Version Download (1833Kb) | Preview |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
This paper provides the first annual GDP series for Great Britain over the
period 1700-1870. The series is constructed in real terms from the output side, using
volume indicators and value added weights. Sectoral estimates are provided for
agriculture, industry and services, and for a number of sub-sectors. Estimates of
nominal GDP are also provided, based on a benchmark for 1841 and projected back to
1700 and forward to 1870 using the real output series and sectoral price indices. The
new data are used to provide a consistent account of economic growth and the
business cycle. The results are broadly consistent with the long run path of real output
suggested by Crafts and Harley, although growth rates for sub-periods differ, largely
as a result of changes in the growth of agriculture. Nominal GDP increased more
rapidly than suggested by Lindert and Williamson during the eighteenth century, and
more slowly than suggested by Deane and Cole during the first half of the nineteenth
century, as a result of differences in the price indices. We also refine the business
cycle chronologies of Ashton and Gayer, Rostow and Schwartz.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
---|---|---|---|---|---|
Alternative Title: | |||||
Subjects: | D History General and Old World > DA Great Britain H Social Sciences > HC Economic History and Conditions |
||||
Divisions: | Faculty of Social Sciences > Sociology | ||||
Library of Congress Subject Headings (LCSH): | Gross domestic product -- Great Britain, Great Britain -- Economic conditions -- 1760-1860, Business cycles -- Great Britain | ||||
Series Name: | CAGE Online Working Paper Series | ||||
Publisher: | Department of Economics, University of Warwick | ||||
Place of Publication: | Coventry, UK | ||||
Official Date: | September 2010 | ||||
Dates: |
|
||||
Volume: | Volume 2010 | ||||
Number: | Number 20 | ||||
Number of Pages: | 49 | ||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Published | ||||
Date of first compliant deposit: | 1 August 2016 | ||||
Date of first compliant Open Access: | 1 August 2016 | ||||
Funder: | Leverhulme Trust (LT), Seventh Framework Programme (European Commission) (FP7), Sixth Framework Programme (European Commission) (FP6) | ||||
Grant number: | F/00215AR (LT) ; SSH7-CT-2008-225342 (EC) ; MRTN-CT-2004-512439 (EC) |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |
Downloads
Downloads per month over past year