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
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)
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Working Paper: British Relative Economic Decline in the Aftermath of German Unification (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:wrk:warwec:1295
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