Structural Change and Europe's Golden Era

35 Pages Posted: 29 Jun 2001

See all articles by Jonathan R.W. Temple

Jonathan R.W. Temple

Centre for Economic Policy Research (CEPR)

Date Written: June 2001

Abstract

Most of the countries of Western Europe grew at unprecedented rates from the late 1940s until the early 1970s. Another feature of this period was dramatic structural change, as employment shifted from agriculture to manufacturing and services. This Paper uses growth accounting to measure the direct contribution of structural change to aggregate productivity growth. The conventional accounting framework is extended and then applied to Western Europe and the USA for the period 1950-90. The Paper quantifies the importance of structural change in explaining the Golden Age, the productivity slowdown, and the cross-country variation in post-war growth rates.

Keywords: Structural change, labour reallocation, growth accounting

JEL Classification: O42, O52

Suggested Citation

Temple, Jonathan R.W., Structural Change and Europe's Golden Era (June 2001). CEPR Discussion Paper No. 2861. Available at SSRN: https://ssrn.com/abstract=275327

Jonathan R.W. Temple (Contact Author)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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