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British Relative Economic Decline in the Aftermath of German Unification

Nicholas Crafts ()

The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics

Abstract: From 1871 to 1913, German economic growth was faster than that of the UK. This represented a successful catch-up of the leading European economy but there was still a significant productivity gap at the end of the period. Slower UK growth should be seen as largely unavoidable but there was a serious weakness in the national innovation system. On the whole, the greater openness of the British economy was advantageous and a move to protectionist policies would have been damaging. The expansion of German industrial production and exports only had a small negative impact on UK national income.

Keywords: economic growth; productivity performance; trade rivalry; Victorian failure JEL codes: N13; O52 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-his
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Persistent link: https://EconPapers.repec.org/RePEc:wrk:warwec:1295

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