Please enable JavaScript.
Coggle requires JavaScript to display documents.
Week 6 - European Golden Age, image, Eichengreen and Uzan (1992)*, 3 step…
-
-
-
-
-
-
-
-
-
-
-
-
-
-
The disproportionate growth was due to labour being stuck to agricultural sector.
Therefore there was a disequilibrium to begin with
-
-
Crafts & Toniolo (1996) argue that the Golden Age was a historically exceptional period of productivity-driven convergence, in which Western Europe closed the gap with the U.S. through rapid TFP growth, aided by postwar reconstruction, capital deepening, and structural change — a process that naturally ran out by the 1970s.
-
-
-
-
-
-
