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British business cycles, 1270-1870

Abstract:
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.
Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1007/s11698-025-00306-w

Authors

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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Oxford college:
Nuffield College
Role:
Author
ORCID:
0000-0003-2846-8193


Publisher:
Springer
Journal:
Cliometrica More from this journal
Volume:
20
Issue:
1
Pages:
37–68
Publication date:
2025-04-22
Acceptance date:
2025-02-06
DOI:
EISSN:
1863-2513
ISSN:
1863-2505


Language:
English
Keywords:
Pubs id:
2085313
Local pid:
pubs:2085313
Deposit date:
2025-02-12
ARK identifier:

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