European Macroeconomy Growth, Integration and Cycles 1500–1913
Produktdetaljer
Biographical note
Lee A. Craig, Alumni Distinguished Professor, Department of Economics, North Carolina State University, US and the late Douglas Fisher, formerly Professor of Economics, North Carolina State University, US<i>'. . . a useful companion when teaching European economic history.'</i>
The book demonstrates that growth was the natural state for European economies throughout the period although, under the impetus of the industrial revolution, growth rates generally accelerated by the end of the nineteenth century. Similarly, business cycles in the modern sense seem to have been in evidence at the beginning of the period but by the eighteenth century there is no doubt that modern cycles affected these countries, sometimes simultaneously. Inflationary episodes are both distinct and shared in this long period, with the long inflation of the sixteenth century attesting to the integration of European markets. Finally, the authors find abundant quantitative evidence to support the argument that economies linked by international trade in 1500 came close to achieving global integration by 1913.
The European Macroeconomy will be of interest to scholars of economic history, international economics and macroeconomics.