Persistent but not consistent: The growth of national income in Holland 1347–1807

Jan Luiten van Zanden and Bas van Leeuwen

Explorations in Economic History, 2012, vol. 49, issue 2, 119-130

Abstract: In this paper we construct a detailed dataset of the national accounts of Holland (1347–1807). Using this dataset, we demonstrate that this economy was characterized by persistent economic growth caused by, depending on the period, structural change (share of industry and services in the economy increases), technological development, and factor substitution. During the entire period GDP per capita increased by on average 0.19% per year. This persistent growth, however, was highly unstable due largely to the importance of international services in the economy.

Keywords: Holland; GDP; Schumpeterian growth; Smithian growth; Growth accounting (search for similar items in EconPapers)
JEL-codes: E01 N13 N33 O10 O40 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (100)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:exehis:v:49:y:2012:i:2:p:119-130

DOI: 10.1016/j.eeh.2011.11.002

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