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Six centuries of British economic growth: a time-series perspective.
- Source :
- European Review of Economic History; May2017, Vol. 21 Issue 2, p141-158, 18p, 1 Chart, 10 Graphs
- Publication Year :
- 2017
-
Abstract
- This paper provides a time-series analysis of recent annual estimates of real GDP and industrial output covering 1270–1913. We show that growth can be regarded as a segmented trend-stationary process. On this basis, we find that trend growth of real GDP per person was zero prior to the 1660s but then experienced two significant accelerations, pre- and post-industrial revolution. We also find that the hallmark of the industrial revolution is a substantial increase in the trend rate of growth of industrial output rather than being an episode of difference stationary growth. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 13614916
- Volume :
- 21
- Issue :
- 2
- Database :
- Complementary Index
- Journal :
- European Review of Economic History
- Publication Type :
- Academic Journal
- Accession number :
- 122878748
- Full Text :
- https://doi.org/10.1093/ereh/hew020