French Industrialization

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Cntxt 19thIRspreads 2 nw sectors ndcountrs,but unevenlyToday, most success econWEur,USGrowth in EU.Great DivergCentury British leadershipFinancialnd Econ,Diplomatic ndPolit (Pax Britannica)Indust of NW Eu gives to the continent a Core-Periphery struct.Scandinavia more successf in bridging the gap. S Eu, partial nd laterEast and Balkans largely unaffected by MEG.Great Britain:Tradingindustndfinan leaderSpecializ in core sectors of  1 IR: coal, iron nd txtil.1850-70: peak of relative industlsupremacy. Pioneer f railways ndshipbildinLost leadershx US nd Germ at end of cent.FranceSlower overall growth of GNP, but not pc terms. Low demogr growth:Early demogr transit (< natalit). Low urbaniz rate. Special path 2 indust:Poor coal endowmentExtensive use of hydraulpower determined nature of French indust.Small scale and scatteredindustry, specialized in high value added prodcts. Belgium (small scale UK): L-r industtraditAttracted foreign Kand good access to foreign markts (F)Institutional innovats:Investmntbanking, 1st verticintegratfirmsVery industlzd by 1840.Hevy dependence on int’l markts.GermanyLast of indust, but most succesfl..00-33:Politically divided (38 polities)High transact costs: heterogeneous legal framework, monetary system, trade policiesLargely rural

1800-1833ModerniztnInstitutional reforms under French rule (Confederation of the Rhine) or French threat (Prussia).1818: Tariff unification in PrussiaEffcts: Common marketExtrnal low tariff (to beat protectionist Austria)1833-1870: Great Indust (40-50). Mrktintegrndralwys. Techno of th 1st IR (Coal)Early adoption of new steel production techniques (developed since 1850-1870).1871-1914:2nd Reich (Empire)Gld Stand. Industrlledershp in EU.German industrializationEmphasis on capital goods and intermediate productsSuccessful adoption of new products and technlgies.Key player in 2nd IR

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