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British Economic Growth 1856-1973The Post-War Period in Historical Perspective$
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R. C. O. Matthews, C. H. Feinstein, and J. Odling-Smee

Print publication date: 1982

Print ISBN-13: 9780198284536

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198284535.001.0001

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The Rate of Growth and the Proximate Sources of Growth

The Rate of Growth and the Proximate Sources of Growth

Chapter:
(p.497) Chapter Sixteen The Rate of Growth and the Proximate Sources of Growth
Source:
British Economic Growth 1856-1973
Author(s):

R. C. O. Matthews

C. H. Feinstein (Contributor Webpage)

J. C. Odling‐Smee

Publisher:
Oxford University Press
DOI:10.1093/0198284535.003.0016

Growth rates of output and output per head followed a U‐shaped pattern: a long intermediate period of slow growth separated initial and terminal periods of faster growth. The U‐shaped pattern also occurred in total factor productivity growth but not in total factor input growth. Labour input growth declined over the whole period, mainly because of the reductions in population growth and hours of work. Capital input growth was markedly higher in the post‐war period than in earlier periods, but this was not enough to offset the impact on total factor input growth of lower labour input growth.

Keywords:   capital, labour, output growth, total factor input, total factor productivity

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