EH.Net Abstracts in Economic History

                ABSTRACTS IN ECONOMIC HISTORY
                     (c) 2007 EH.Net
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Name: Leandro Prados de la Escosura
Email: prados at clio.uc3m.es
Institution: Universidad Carlos III de Madrid

Co-author: Joan Ramón Rosès
Departamento de Historia Económica e Instituciones
Universidad Carlos III de Madrid
C/Madrid 126
28903 Getafe, Spain

Title: The Sources of Long-run Growth in Spain, 1850-2000

Internet Address of abstracted work: 
http://www.uc3m.es/uc3m/dpto/HISEC/working_papers/working_papers_general.html

By mail:
Departamento de Historia Económica e Instituciones
Universidad Carlos III de Madrid
C/Madrid 126
28903 Getafe, Spain

Language:

Abstract:
Between 1850 and 2000, Spain's real income 
increased by about 40-fold, at an average rate of 
2.5 percent. The sources of this long-run growth 
are investigated using Jorgenson-type growth 
accounting analysis. We find that growth upsurges 
are closely related to increases in TFP. Spanish 
economic growth went through three successive 
phases. The century before 1950 was characterized 
by slow growth driven by factor accumulation. TFP 
improvements pushed up explosive growth during 
the Golden Age and mitigated the deceleration 
during the transition to democracy years 
(1975-86). Since the accession to the European 
Union Spain has experienced a dramatic 
productivity slowdown.

Keywords: Growth Accounting; Total Factor 
Productivity; Factor Accumulation; Spain.

JEL Classification: O47; N13; N14

Bibliography: Prados de la Escosura, Leandro and 
Joan Ramón Rosès. "The Sources of Long-run Growth 
in Spain, 1850-2000." Universidad Carlos III de 
Madrid, Working Papers in Economic History. 
January 2007 WP 07-02.

Subject: D
Geographical Area: 4
Country/Region: Spain
Time Period: 0

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