scholarly journals Seven Centuries of European Economic Growth and Decline

2015 ◽  
Vol 29 (4) ◽  
pp. 227-244 ◽  
Author(s):  
Roger Fouquet ◽  
Stephen Broadberry
Keyword(s):  
Economic Growth ◽  
Nineteenth Century ◽  
Economic Development ◽  
Industrial Revolution ◽  
Gdp Per Capita ◽  
Economic Decline ◽  
European Economic ◽  
Long Run ◽  
Per Capita ◽  
European Economies

This paper investigates very long-run preindustrial economic development. New annual GDP per capita data for six European countries over the last seven hundred years paint a clearer picture of the history of European economic development. We confirm that sustained growth has been a recent phenomenon, but reject the argument that there was no long-run growth in living standards before the Industrial Revolution. Instead, the evidence demonstrates the existence of numerous periods of economic growth before the nineteenth century—periods of unsustained, but raising GDP per capita. We also show that many of the economies experienced substantial economic decline. Thus, rather than being stagnant, pre-nineteenth century European economies experienced a great deal of change. Finally, we offer some evidence that, from the nineteenth century, these economies increased the likelihood of being in a phase of economic growth and reduced the risk of being in a phase of economic decline.

Energy and Industrial Growth

2014 ◽  
Author(s):  
Malanima Paolo ◽  
Astrid Kander ◽  
Paul Warde
Keyword(s):  
Economic Growth ◽  
Nineteenth Century ◽  
Capita Income ◽  
Industrial Revolution ◽  
Economic Structure ◽  
Necessary Condition ◽  
Per Capita Income ◽  
Industrial Growth ◽  
Long Run ◽  
Per Capita

This chapter considers the role that energy played in the industrial growth in nineteenth-century Europe. The economies of Europe grew more rapidly during the nineteenth century than at any previous period in history. This was not simply a consequence of the doubling of the population; per capita income rose as well. Given these facts it is hardly surprising that energy consumption also increased dramatically. Consumption of coal seems to have been a key part of economic growth, as measured by per capita income, and cheap energy was a necessary condition of the industrial revolution. The chapter first considers how coal development blocks contributed to growth in Europe during the period before discussing a number of long-run propositions, such as the strong complementarity between energy and capital. It concludes with an assessment of the link between energy intensity and economic structure.

scholarly journals Economic Development

2019 ◽  
Author(s):  
Dhina Vadyza
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Income Distribution ◽  
Urban Areas ◽  
Gini Index ◽  
Production Factor ◽  
Real Economy ◽  
Long Run ◽  
Per Capita ◽  
Capita Output

Economic growth is a process of increasing per capita output that occurs continuously in the long run. Economic growth is one indicator of the success of development. Increasingly increasing economic growth usually increases people's welfare. While economic development is an effort to increase per capita income by processing potential economic forces into the real economy through investment, increasing knowledge, increasing skills, using technology, adding management skills and organizing.Economic growth is also related to the increase in "per capita output". The theory must include theories about GDP growth and theories about population growth. Then the third aspect is economic growth in a long-term perspective, that is, if for a long period of time the per capita output shows an increasing tendency.The distribution of income distribution in Indonesia is increasingly uneven. This can be seen from the increasing Indonesian Gini Index. As is known, the Gini index measures the income distribution of a country. The size of the Gini index Between 0 (zero) to 1 (one), the Gini index Equal to 0 (zero) indicates the index that the income distribution is perfectly equal, while the Gini index is 1 (one ) shows that the income distribution is totally uneven. Based on the data, the Indonesian Gini index continues to increase from year to year.The state of income distribution in Indonesia since 1970 can be said not to improve, this is caused by many factors, including the First production factor market (input market) which is the increase in labor supply which results in excess labor, low labor wages and limited employment opportunities in urban areas resulting in unemployment and urban slums.Second, land ownership. Land distribution is the main determinant of the extent of poverty and income distribution.

scholarly journals From Convergence to Divergence: Portuguese Economic Growth, 1527–1850

2019 ◽  
Vol 79 (2) ◽  
pp. 477-506 ◽  
Author(s):  
Nuno Palma ◽  
Jaime Reis
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Eighteenth Century ◽  
Economic Decline ◽  
Upward Trend ◽  
Per Capita Gdp ◽  
Per Capita ◽  
European Standards ◽  
European Economies ◽  
First Time

We construct the first time-series for Portugal’s per capita GDP for 1527–1850, drawing on a new database. Starting in the early 1630s there was a highly persistent upward trend which accelerated after 1710 and peaked 40 years later. At that point, per capita income was high by European standards, though behind the most advanced Western European economies. But as the second half of the eighteenth century unfolded, a phase of economic decline was initiated. This continued into the nineteenth century, and by 1850 per capita incomes were not different from what they had been in the early 1530s.

Before the Great Divergence? Comparing the Yangzi Delta and the Netherlands at the Beginning of the Nineteenth Century

2012 ◽  
Vol 72 (4) ◽  
pp. 956-989 ◽  
Author(s):  
Bozhong Li ◽  
Jan Luiten van Zanden
Keyword(s):  
Nineteenth Century ◽  
Economic Development ◽  
The Netherlands ◽  
Labor Productivity ◽  
Detailed Comparison ◽  
Gdp Per Capita ◽  
Great Divergence ◽  
Per Capita ◽  
Yangzi Delta

This article tests recent ideas about the long-term economic development of China compared with Europe on the basis of a detailed comparison of structure and level of GDP in part of the Yangzi delta and the Netherlands in the 1820s. We find that Dutch GDP per capita was almost twice as high as in the Yangzi delta. Agricultural productivity there was at about the same level as in the Netherlands (and England), but large productivity gaps existed in industry and services. We attempt to explain this concluding that differences in factor costs are probably behind disparities in labor productivity.

scholarly journals Dynamic linkages between renewable energy, carbon emissions and economic growth through nonlinear ARDL approach: Evidence from Iran

PLoS ONE ◽  
2021 ◽  
Vol 16 (7) ◽  
pp. e0253464
Author(s):  
M. S. Karimi ◽  
S. Ahmad ◽  
H. Karamelikli ◽  
D. T. Dinç ◽  
Y. A. Khan ◽  
...  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Carbon Emissions ◽  
Gdp Per Capita ◽  
Bounds Testing ◽  
Renewable Energy Consumption ◽  
Economic Implications ◽  
Long Run ◽  
Per Capita

This study examines the relationship between economic growth, renewable energy consumption, and carbon emissions in Iran between 1975–2017, and the bounds testing approach to cointegration and the asymmetric method was used in this study. The results reveal that in the long run increase in renewable energy consumption and CO2 emissions causes an increase in real GDP per capita. Meanwhile, the decrease in renewable energy has the same effect, but GDP per capita reacts more strongly to the rise in renewable energy than the decline. Besides, in the long run, a reduction of CO2 emissions has an insignificant impact on GDP per capita. Furthermore, the results from asymmetric tests suggest that reducing CO2 emissions and renewable energy consumption do not have an essential role in decreasing growth in the short run. In contrast, an increase in renewable energy consumption and CO2 emissions do contribute to boosting the growth. These results may be attributable to the less renewable energy in the energy portfolio of Iran. Additionally, the coefficients on capital and labor are statistically significant, and we discuss the economic implications of the results and propose specific policy recommendations.

scholarly journals Symmetric and Asymmetric Impact of Poverty, Income Inequality, and Population on Carbon Emission in Pakistan: New Evidence From ARDL and NARDL Co-Integration

2021 ◽  
Vol 9 ◽  
Author(s):  
Salim Khan ◽  
Wang Yahong
Keyword(s):  
Economic Growth ◽  
Income Inequality ◽  
Environmental Degradation ◽  
Carbon Emissions ◽  
Carbon Emission ◽  
Policy Implications ◽  
Gdp Per Capita ◽  
Long Run ◽  
Asymmetric Impact ◽  
Per Capita

Several researchers have studied the relationship between poverty and environmental degradation, as these concerns are remained at top priority in achieving Sustainable Development Goals (SDGs). However, the symmetric and asymmetric impact of poverty and income inequality along with population and economic growth on carbon emissions (CO2e) has not been studied in the case of Pakistan. For this purpose, the short and long-run impact of poverty, income inequality, population, and GDP per capita on CO2e investigated by applying the Autoregressive Distributive Lag (ARDL) along with Non-linear Autoregressive Distributive Lag (NARDL) co-integration approach in the context of Pakistan for period 1971–2015. The symmetric results of the current study show poverty and population density along with GDP per capita increase carbon emissions in both the short and long-run, while income inequality has no impact on carbon emissions in the short-run. While in the long-run the symmetric results show that income inequality weakens environmental degradation in terms of carbon emissions. The analysis of NARDL also supports the results obtained from ARDL and suggests a positive effect of poverty, population, and economic growth on carbon emission in Pakistan. The empirical findings of the current study provide policy implications in light of the United Nation's SDGs for the development of Pakistan.

scholarly journals The influence of demographic factors on the economic development of the Azerbaijan: the interconnection problem

2020 ◽  
Vol 10 (2) ◽  
Author(s):  
Saleh Nagiyev
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Economic Development ◽  
18Th Century ◽  
Demographic Factors ◽  
Gdp Per Capita ◽  
Gdp Growth ◽  
World Population ◽  
Per Capita ◽  
The Impact

Demographic factors have sometimes occupied center-stage in the discussion of the sources of economic growth. In the 18th century, Thomas Malthus made the pessimistic forecast that GDP growth per capita would fall due to a continued rapid increase in world population. There is a straightforward accounting relationship when identifying the sources of economic growth: Growth Rate of GDP = Growth Rate of Population + Growth Rate of GDP per capita, where GDP per capita is simply GDP divided by population. This article examines the interconnection between economic development and the demographic policy of Azerbaijan. The article analyzes various approaches of the impact of demographic factors on the economic development of a country. The following demographic factors have been identified and described as significant for the economic development: fertility dynamics, mortality dynamics, population size and gender and age structure.

scholarly journals The Differential Impact of Financial Intermediation on Economic Growth in Oil-Dependent Economies

2018 ◽  
Vol 10 (3) ◽  
pp. 267-284
Author(s):  
Anthony Anyanwu ◽  
Christopher Gan ◽  
Baiding Hu
Keyword(s):  
Economic Growth ◽  
Panel Cointegration ◽  
Bank Credit ◽  
Gdp Per Capita ◽  
Differential Impact ◽  
Pooled Mean Group ◽  
Long Run ◽  
Panel Cointegration Test ◽  
Per Capita ◽  
The Relationship

This paper analyses the relationship between bank credit and economic growth. We extend existing literature by treating separately the oil and non-oil sectors of 28 oil-dependent economies from 1990-2012. We employ panel cointegration and pooled mean group estimation techniques which are appropriate for drawing conclusions from dynamic heterogenous panels. The results of the panel cointegration test indicate that bank credit has no significant long-run relationship with non-oil GDP per capita. The results of the pooled mean group estimator reveal no significant long-run impact of bank credit on non-oil GDP per capita. Overall results suggest that banks do not yet provide adequate credit to stimulate non-oil economic growth. The policy implication of our findings is that the financial sector should be more involved in productive investment activities to promote inclusive growth.

Energy consumption and economic development in Guangdong, China: Distribution, relationship and causes

2021 ◽  
Author(s):  
Mengmeng Hu ◽  
Yafei Wang ◽  
Beicheng Xia ◽  
Guohe Huang
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Energy Consumption ◽  
Energy Intensity ◽  
Hot Spot ◽  
Generalized Method Of Moments ◽  
Gdp Per Capita ◽  
Per Capita ◽  
The Pearl River ◽  
Panel Vector Autoregression

Abstract Analysing the relationship between energy consumption and economic growth is essential to achieve the goal of sustainable development. We employ hot spot analysis to discover the spatial agglomeration of GDP per capita and energy intensity in Guangdong, China, from 2005–2018. Furthermore, panel vector autoregression coupled with a system generalized method of moments is performed to examine the dynamic causal relationship between energy consumption and economic growth under the framework of the Cobb-Douglas production function. Using a multivariate model and grouped studies based on the differences in regional economic development, we show that the GDP per capita of the Pearl River Delta (PRD) is significantly higher than that of the peripheral municipalities. However, energy intensity shows an entirely different spatial distribution. The development of the regional economy depends on its own “assembling effect”. GDP explains approximately 68.3% of the total variation in energy consumption in the PRD and only approximately 34.5% of that in the peripheral municipalities. We do not confirm Granger causality between energy consumption and economic development. Guangdong can decrease its energy consumption growth without substantially sacrificing its economic growth. The analysis framework of this paper has significant implications for regions in balancing economic development and energy consumption.

scholarly journals Two concerns about the interpretation of the estimates of historical national accounts before 1850

2021 ◽  
Vol 16 (2) ◽  
pp. 294-300
Author(s):  
Jan Luiten van Zanden ◽  
Jutta Bolt
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Industrial Revolution ◽  
Gdp Per Capita ◽  
National Accounts ◽  
Industrial Growth ◽  
Long Term Trends ◽  
Per Capita ◽  
Low Rate

AbstractAs contribution to the debate about the interpretation of the process of economic growth before the Industrial Revolution, we discuss two concerns about the currently available estimates of historical national accounts and the way in which these estimates should be interpreted. Firstly, we argue that estimates of the long-term trends of economic growth should make use of all information contained in time series of Gross Domestic Product (GDP henceforth), and therefore use standard regression analysis to establish those trends. Secondly, we point to the problem that the time series of historical GDP are based on very different estimation procedures, which probably affect the outcome in terms of the level of GDP per capita in the period before 1850. Both concerns imply that we do not entirely agree with Jack Goldstone’s views of pre-industrial growth. In particular, his conclusion that growth was cyclical before 1800 is inconsistent with the available GDP estimates, which point to sustained growth, albeit at a very low rate.

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