British business cycles, 1270-1870

Stephen Broadberry, Alexamder Klein, Mark Overton, Bas van Leeuwen

Onderzoeksoutput: Working paper/discussiepaperWorking paper/Discussion paperWetenschappelijk


Annual estimates of GDP constructed from the output side are used to analyse British business cycles between 1270 and 1870. After c.1670 the scale of recessions tended to diminish as the economy grew, diversified and became more resilient. Until c.1730, business cycles were driven largely by agricultural fluctuations, but shocks to industry and commerce became more important over time as the structure of the economy changed. A number of severe recessions can be identified, associated with harvest failures, disease outbreaks, wars and disruptions to commerce. Monetary and financial factors also played a role in some of these severe recessions.
Originele taal-2Engels
UitgeverCompetitive Advantage in the Global Economy (CAGE)
StatusGepubliceerd - 2022

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NaamCAGE Online Working Paper Series


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