![]() " Growing, Shrinking and Long Run Economic Performance: Historical Perspectives on Economic Development,"ģ23, Competitive Advantage in the Global Economy (CAGE). Broadberry, Stephen & Wallis, John, 2017.A gap between the North Sea Area and the rest of Europe, the Little Divergence, emerged between the early seventeenth century and the Napoleonic Wars lending support to Broadberry-van Zanden's interpretation. Positive trend growth in output per head and population took place in the North Sea Area (Britain and the Low Countries) since the Plague. ![]() ![]() Our findings confirm that the Black Death often resulted in higher income levels, but reject the view of a uniform long-term response to the Plague while evidence a negative reaction in non-Malthusian economies. ![]() The most persistent shocks occurred at the time of the Black Death and the twentieth century's world wars. Different regimes, defined by endogenously estimated structural shocks, coincided with episodes of pandemics and war. This paper contributes to the debate on the origins of modern economic growth in Europe from a very long run perspective using econometric techniques that allow for a long-range dependence approach.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |