Nothing Special   »   [go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/ahe/invest/v16y2020i04p35-48.html
   My bibliography  Save this article

Economic effects of the Black Death: Spain in European perspective

Author

Listed:
  • Carlos Álvarez-Nogal

    (Universidad Carlos III de Madrid)

  • Leandro Prados de la Escosura

    (Universidad Carlos III de Madrid)

  • Carlos Santiago-Caballero

    (Universidad Carlos III de Madrid)

Abstract
The Black Death was the most devastating demographic shock in recorded human history. However, the effects in the European population were highly asymmetrical as were its economic consequences. This paper surveys the short and long run economic effects of the plague in Spain in European perspective. While the demographic impact in Spain was moderate compared to the European average, the economic effects were more severe and incomes per head fell sharply. This was a consequence of the existence of a frontier economy in Spain characterised by a relative scarcity of labour and a fragile equilibrium between factors of production. Unlike most of Europe, in Spain the Black Death increased inequality as the remuneration of labour decreased more rapidly than proprietors’ gains. In the long term the Plague reinforced the frontier economy status. KEY Classification-JEL: I10; N13; N33; O52

Suggested Citation

  • Carlos Álvarez-Nogal & Leandro Prados de la Escosura & Carlos Santiago-Caballero, 2020. "Economic effects of the Black Death: Spain in European perspective," Investigaciones de Historia Económica - Economic History Research (IHE-EHR), Journal of the Spanish Economic History Association, Asociación Española de Historia Económica, vol. 16(04), pages 35-48.
    • Handle: RePEc:ahe:invest:v:16:y:2020:i:04:p:35-48
    as

    Download full text from publisher

    File URL: https://recyt.fecyt.es/index.php/IHE/article/view/86097/62660
    Download Restriction: This is an Open Access journal
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Alfani, Guido & Murphy, Tommy E., 2017. "Plague and Lethal Epidemics in the Pre-Industrial World," The Journal of Economic History, Cambridge University Press, vol. 77(1), pages 314-343, March.
    2. Hans-Joachim Voth, 2013. "The Three Horsemen of Riches: Plague, War, and Urbanization in Early Modern Europe," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(2), pages 774-811.
    3. Prados de la Escosura, Leandro & Ã lvarez-Nogal, Carlos & Santiago-Caballero, Carlos, 2020. "Growth Recurring in Preindustrial Spain: Half A Millennium Perspective," CEPR Discussion Papers 14479, C.E.P.R. Discussion Papers.
    4. Koyama, Mark & Jedwab, Remi & Johnson, Noel, 2019. "Pandemics, Places, and Populations: Evidence from the Black Death," CEPR Discussion Papers 13523, C.E.P.R. Discussion Papers.
    5. Alfani, Guido, 2015. "Economic Inequality in Northwestern Italy: A Long-Term View (Fourteenth to Eighteenth Centuries)," The Journal of Economic History, Cambridge University Press, vol. 75(4), pages 1058-1096, December.
    6. Guido Alfani & Francesco Ammannati, 2017. "Long‐term trends in economic inequality: the case of the Florentine state, c. 1300–1800," Economic History Review, Economic History Society, vol. 70(4), pages 1072-1102, November.
    7. Krantz, Olle, 2017. "Swedish GDP 1300-1560: A Tentative Estimate," Lund Papers in Economic History 152, Lund University, Department of Economic History.
    8. Gregory Clark, 2007. "Introduction to A Farewell to Alms: A Brief Economic History of the World," Introductory Chapters, in: A Farewell to Alms: A Brief Economic History of the World, Princeton University Press.
    9. Malanima, Paolo, 2011. "The long decline of a leading economy: GDP in central and northern Italy, 1300–1913," European Review of Economic History, Cambridge University Press, vol. 15(2), pages 169-219, August.
    10. Samuel Cohn, 2007. "After the Black Death: labour legislation and attitudes towards labour in late‐medieval western Europe," Economic History Review, Economic History Society, vol. 60(3), pages 457-485, August.
    11. van Zanden, Jan Luiten & van Leeuwen, Bas, 2012. "Persistent but not consistent: The growth of national income in Holland 1347–1807," Explorations in Economic History, Elsevier, vol. 49(2), pages 119-130.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Remi Jedwab & Noel D. Johnson & Mark Koyama, 2022. "The Economic Impact of the Black Death," Journal of Economic Literature, American Economic Association, vol. 60(1), pages 132-178, March.
    2. Prados de la Escosura, Leandro & Rodríguez-Caballero, C. Vladimir, 2022. "War, pandemics, and modern economic growth in Europe," Explorations in Economic History, Elsevier, vol. 86(C).
    3. Leandro Prados de la Escosura & Carlos Álvarez-Nogal & Carlos Santiago-Caballero, 2022. "Growth recurring in preindustrial Spain?," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 16(2), pages 215-241, May.
    4. Guido Alfani, 2022. "Epidemics, Inequality, and Poverty in Preindustrial and Early Industrial Times," Journal of Economic Literature, American Economic Association, vol. 60(1), pages 3-40, March.
    5. Alfani, Guido, 2020. "Pandemics and asymmetric shocks: evidence from the history of plague in Europe and the Mediterranean," CAGE Online Working Paper Series 478, Competitive Advantage in the Global Economy (CAGE).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fochesato, Mattia, 2018. "Origins of Europe’s north-south divide: Population changes, real wages and the ‘little divergence’ in early modern Europe," Explorations in Economic History, Elsevier, vol. 70(C), pages 91-131.
    2. Guido Alfani, 2022. "Epidemics, Inequality, and Poverty in Preindustrial and Early Industrial Times," Journal of Economic Literature, American Economic Association, vol. 60(1), pages 3-40, March.
    3. Prados de la Escosura, Leandro & Rodriguez-Caballero, Carlos Vladimir, 2020. "Growth, War, and Pandemics: Europe in the Very Long-run," CEPR Discussion Papers 14816, C.E.P.R. Discussion Papers.
    4. Guido Alfani & Marco Percoco, 2019. "Plague and long‐term development: the lasting effects of the 1629–30 epidemic on the Italian cities," Economic History Review, Economic History Society, vol. 72(4), pages 1175-1201, November.
    5. Kumon, Yuzuru, 2022. "How Landownership Equality Created a Low Wage Society: Pre-industrial Japan, 1600-1870," IAST Working Papers 22-138, Institute for Advanced Study in Toulouse (IAST).
    6. Prados de la Escosura, Leandro & Rodríguez-Caballero, C. Vladimir, 2022. "War, pandemics, and modern economic growth in Europe," Explorations in Economic History, Elsevier, vol. 86(C).
    7. Palma, Nuno & Reis, Jaime & Rodrigues, Lisbeth, 2023. "Historical gender discrimination does not explain comparative Western European development: evidence from Portugal, 1300-1900," Explorations in Economic History, Elsevier, vol. 88(C).
    8. Iacopetta, Maurizio, 2021. "Class differences and the Commercial Revolution: An equilibrium selection story," Economic Modelling, Elsevier, vol. 100(C).
    9. Rohan Dutta & David K. Levine & Nicholas W. Papageorge & Lemin Wu, 2018. "Entertaining Malthus: Bread, Circuses, And Economic Growth," Economic Inquiry, Western Economic Association International, vol. 56(1), pages 358-380, January.
    10. Arthi, Vellore & Parman, John, 2021. "Disease, downturns, and wellbeing: Economic history and the long-run impacts of COVID-19," Explorations in Economic History, Elsevier, vol. 79(C).
    11. Roger Koppl & Abigail Devereaux & Jim Herriot & Stuart Kauffman, 2018. "A Simple Combinatorial Model of World Economic History," Papers 1811.04502, arXiv.org.
    12. Palma, Nuno & Reis, Jaime, 2019. "From Convergence to Divergence: Portuguese Economic Growth, 1527–1850," The Journal of Economic History, Cambridge University Press, vol. 79(2), pages 477-506, June.
    13. Maurizio Iacopetta, 2021. "Class Di¤erences and the Commercial Revolution: An Equilibrium Selection Story," SciencePo Working papers Main halshs-03515585, HAL.
    14. van Bavel, Bas, 2016. "The Invisible Hand?: How Market Economies have Emerged and Declined Since AD 500," OUP Catalogue, Oxford University Press, number 9780199608133.
    15. Alfani, Guido & Di Tullio, M & Fochesato, M, 2020. "The determinants of wealth inequality in the Republic of Venice (1400-1800)," CAGE Online Working Paper Series 483, Competitive Advantage in the Global Economy (CAGE).
    16. Fabian Siuda & Uwe Sunde, 2021. "Disease and demographic development: the legacy of the plague," Journal of Economic Growth, Springer, vol. 26(1), pages 1-30, March.
    17. Desierto, Desiree & Koyama, Mark, 2024. "The Political Economy of Status Competition: Sumptuary Laws in Preindustrial Europe," The Journal of Economic History, Cambridge University Press, vol. 84(2), pages 479-516, June.
    18. Broadberry, Stephen & Wallis, John, 2017. "Growing, Shrinking and Long Run Economic Performance: Historical Perspectives on Economic Development," CEPR Discussion Papers 11973, C.E.P.R. Discussion Papers.
    19. Vincent Geloso & Peter T. Leeson, 2020. "Are Anarcho-Capitalists Insane? Medieval Icelandic Conflict Institutions in Comparative Perspective," Revue d'économie politique, Dalloz, vol. 130(6), pages 957-974.
    20. Stephen Broadberry, 2024. "British Economic Growth and Development," Springer Books, in: Claude Diebolt & Michael Haupert (ed.), Handbook of Cliometrics, edition 3, pages 951-986, Springer.

    More about this item

    Keywords

    Black Death; Frontier economy; Malthusian economy; Spain;
    All these keywords.

    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N33 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: Pre-1913
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ahe:invest:v:16:y:2020:i:04:p:35-48. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Elena Garcia Cruz (email available below). General contact details of provider: https://edirc.repec.org/data/aeheeea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.