Economic growth in Western Europe 1870-1957
The article puts Europe’s post-war experience into historical perspective in order to provide some criteria for measuring post-war economic performance. Additionally, it considers whether the nature of economic growth in the Western economies has been transformed, or whether the achievements of the...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2014-03-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11972 |
| Summary: | The article puts Europe’s post-war experience into historical perspective in order to provide some criteria for measuring post-war economic performance. Additionally, it considers whether the nature of economic growth in the Western economies has been transformed, or whether the achievements of the past decade are due to special, and perhaps temporary, circumstances connected with recovery from war and the great depression of the 1930s. The study arose from attempts to make long-term forecasts of economic growth for European countries, in which many unanswered questions arise. What is the “normal” rate of growth of output and productivity in Europe, excluding times of war and major recession? What degree of recovery or abnormality has there been in post-war rates of growth? What is the normal capital-output ratio, or the ratio of investment to output?
JEL: N14, N24, O47 |
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| ISSN: | 2037-3635 2037-3643 |