The Sources of Long-run Growth in Spain 1850-2000

Leandro Prados de la Escosura and Rosés, Joan R.
Authors registered in the RePEc Author Service: Joan R. Rosés

No 6189, CEPR Discussion Papers from Centre for Economic Policy Research

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 (search for similar items in EconPapers)
JEL-codes: N13 N14 O47 (search for similar items in EconPapers)
Date: 2007-03
New Economics Papers: this item is included in nep-dev, nep-eff and nep-his
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Related works:
Journal Article: The Sources of Long-Run Growth in Spain, 1850-2000 (2009)
Working Paper: The sources of long-run growth in Spain 1850-2000 (2007)
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