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Business Fluctuations in Imperial Austria's Regions, 1867-1913: New Evidence

Missiaia, Anna LU and Ciccarelli, Carlo (2014) In Economic History working paper series
Abstract
This paper presents annual estimates of total and per-capita GDP at 1910 prices for the regions of Imperial Austria from the origin of the Dual Monarchy (1867) to the eve of WWI (1913). The time paths of regional GDP are estimated from the yield of the tax on the transfer of real and financial property which is itself very highly correlated with the Schulze (2007) estimates of regional GDP for census years (1870, 1880, 1890, 1900, and 1910). The relative continuity or discontinuity of per-capita GDP growth partitions Austria's regions into two groups. Clear evidence of discontinuity (a "take-off") is present in Carniola, Carinthia, Salzburg, Styria, Littoral, Tyrol, and to some extent Moravia. In Lower and Upper Austria, Bohemia, Silesia,... (More)
This paper presents annual estimates of total and per-capita GDP at 1910 prices for the regions of Imperial Austria from the origin of the Dual Monarchy (1867) to the eve of WWI (1913). The time paths of regional GDP are estimated from the yield of the tax on the transfer of real and financial property which is itself very highly correlated with the Schulze (2007) estimates of regional GDP for census years (1870, 1880, 1890, 1900, and 1910). The relative continuity or discontinuity of per-capita GDP growth partitions Austria's regions into two groups. Clear evidence of discontinuity (a "take-off") is present in Carniola, Carinthia, Salzburg, Styria, Littoral, Tyrol, and to some extent Moravia. In Lower and Upper Austria, Bohemia, Silesia, Galicia, Bukovina, and Dalmatia there is instead no evidence of structural break in their growth rates. Significant drops in the level of per-capita GDP do occur (as in Lower Austria and Bohemia after the 1873 financial crash) but have moderate effects on the growth of subsequent years. Regional (per-capita) inequality is also evaluated using standard measures. The coefficient of variation and Theil index follow a U-shaped curve: after a decline lasted about 15 years they both rise and point to, from ca. 1885, growing divergence. (Less)
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author
publishing date
type
Working Paper
publication status
published
subject
keywords
Austria, Habsburg Empire, Regional GDP, Growth, Inequality, N13, N33, N94, O11, O18, R11
in
Economic History working paper series
issue
186
publisher
London: School of Economics and Political Science
language
English
LU publication?
no
id
38946dd6-d1ad-4fec-a291-bb60ca517cbc
alternative location
http://eprints.lse.ac.uk/55963/
http://www.lse.ac.uk/economicHistory/workingPapers/2014/WP186.pdf
date added to LUP
2016-06-21 16:02:03
date last changed
2017-04-21 13:29:07
@misc{38946dd6-d1ad-4fec-a291-bb60ca517cbc,
  abstract     = {This paper presents annual estimates of total and per-capita GDP at 1910 prices for the regions of Imperial Austria from the origin of the Dual Monarchy (1867) to the eve of WWI (1913). The time paths of regional GDP are estimated from the yield of the tax on the transfer of real and financial property which is itself very highly correlated with the Schulze (2007) estimates of regional GDP for census years (1870, 1880, 1890, 1900, and 1910). The relative continuity or discontinuity of per-capita GDP growth partitions Austria's regions into two groups. Clear evidence of discontinuity (a "take-off") is present in Carniola, Carinthia, Salzburg, Styria, Littoral, Tyrol, and to some extent Moravia. In Lower and Upper Austria, Bohemia, Silesia, Galicia, Bukovina, and Dalmatia there is instead no evidence of structural break in their growth rates. Significant drops in the level of per-capita GDP do occur (as in Lower Austria and Bohemia after the 1873 financial crash) but have moderate effects on the growth of subsequent years. Regional (per-capita) inequality is also evaluated using standard measures. The coefficient of variation and Theil index follow a U-shaped curve: after a decline lasted about 15 years they both rise and point to, from ca. 1885, growing divergence.},
  author       = {Missiaia, Anna and Ciccarelli, Carlo},
  keyword      = {Austria,Habsburg Empire,Regional GDP,Growth,Inequality,N13,N33,N94,O11,O18,R11},
  language     = {eng},
  note         = {Working Paper},
  number       = {186},
  publisher    = {London: School of Economics and Political Science},
  series       = {Economic History working paper series },
  title        = {Business Fluctuations in Imperial Austria's Regions, 1867-1913: New Evidence},
  year         = {2014},
}