A quantitative exploration of the Golden Age of European growth

Francisco Alvarez-Cuadrado () and Mihaela . Pintea

Journal of Economic Dynamics and Control, 2009, vol. 33, issue 7, pages 1437-1450

Abstract: Income per capita in some Western European countries more than tripled in the two and a half decades that followed World War II. The literature has identified several factors behind this outstanding growth episode, specifically; structural change, the Marshall Plan combined with the public provision of infrastructure, the surge of intra-European trade, and the reconstruction process that followed the war. This paper is an attempt to formalize and quantify the contribution of each one of these factors to post-war growth. Our results highlight the importance of reconstruction growth and structural change, and point to the limited role of the Marshall Plan, and the late contribution of intra-European trade.

Keywords: Economic; growth; European; economic; history; 1913-; CGE; models (search for similar items in EconPapers)
Date: 2009

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Working Paper: A Quantitative Exploration of the Golden Age of European Growth (2008)
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Persistent link: http://EconPapers.repec.org/RePEc:eee:dyncon:v:33:y:2009:i:7:p:1437-1450

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