NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Economic Growth in the Mid Atlantic Region: Conjectural Estimates for 1720 to 1800

Joshua L. Rosenbloom, Thomas J. Weiss

NBER Working Paper No. 17215
Issued in July 2011
NBER Program(s):   DAE

We employ the conjectural approach to estimate the growth of GDP per capita for the colonies and states of the mid-Atlantic region (Del., NJ, NY and Penn). In contrast to previous studies of the region’s growth that relied heavily on the performance of the export sector, the conjectural method enables us to take into account the impact of domestic sector, in particular the production of agricultural products for the domestic market. We find that the region experienced modest growth of real GDP per capita. Although the rate of growth was modest in comparison to what would materialize in the late nineteenth century, it was faster than that of the Lower South in the eighteenth century, and at times as fast as that for the U.S. in the first half of the nineteenth century. In its heyday of growth from 1740 to 1750—before the dislocations produced by the spread of the Seven Years’ War--real GDP per capita rose at 0.7 percent per year, driven by the growth of output per worker in both agriculture and nonagriculture, and by capital accumulation.

download in pdf format
   (352 K)

email paper

This paper is available as PDF (352 K) or via email.

An online appendix is available for this publication.

This paper was revised on March 20, 2013

Acknowledgments

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w17215

Published: Rosenbloom, Joshua L. & Weiss, Thomas, 2014. "Economic growth in the Mid-Atlantic region: Conjectural estimates for 1720 to 1800," Explorations in Economic History, Elsevier, vol. 51(C), pages 41-59.

Users who downloaded this paper also downloaded these:
Ashraf and Galor w17216 The "Out of Africa" Hypothesis, Human Genetic Diversity, and Comparative Economic Development
Lindert and Williamson w17211 American Incomes before and after the Revolution
Kolko, Neumark, and Cuellar Mejia w16968 What Do Business Climate Indexes Teach Us About State Policy and Economic Growth?
Aizenman and Sushko w17228 Capital Flow Types, External Financing Needs, and Industrial Growth: 99 countries, 1991-2007
Hassler and Krusell w17757 Economics and Climate Change: Integrated Assessment in a Multi-Region World
 
Publications
Activities
Meetings
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us