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- DescriptionThis study examines the ecomic development of the machine-building industry in the Habsburg Empire and its role in the process of industrialization. The new evidence from the capital goods sector, the timing and extent of changes in machinery output and investment, strongly supports the tion of a Great Depression in Austria from 1873 to the mid-1890s and the direction of capital flows as a causal factor. However, with significantly faster than average long-run rates of expansion, the machine-building industry made a direct contribution to industrial growth in both Austria and Hungary. The rise in labour and total factor productivity in mechanical engineering was reflected in falling output prices, thus enhancing productivity growth in the machinery using industries. In both parts of the Habsburg Empire, most of the labour productivity raising machinery was procured from domestic suppliers where output per worker grew markedly faster than in the aggregate ecomy.
- Author BiographyThe Author: Max-Stephan Schulze is Lecturer in Economic History at the London School of Economics. He was educated at the LSE and the universities of Freiburg and Munich.
- Author(s)Max-Stephan Schulze
- PublisherPeter Lang AG
- Date of Publication01/04/1996
- SubjectEconomics: Professional & General
- Country of PublicationSwitzerland
- First Published1996
- ImprintPeter Lang AG
- Content Notetab. and graph.
- Weight400 g
- Width148 mm
- Height210 mm
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