In the mid-nineteenth century the Swedish average income level was close to the average global level (as measured by Maddison).
In a European perspective Sweden was a rather poor country.
Thus, in certain sectors there was also forging ahead, quickening the pace of structural change in the industrializing economy.
Furthermore, during a century of fairly rapid growth new conditions have arisen that have required profound adaptation and a renewal of entrepreneurial activity as well as of economic policies.
An analysis in a traditional growth accounting framework gives a long term pattern with certain periodic similarities (see Table 3).
Boserup Thesis Geography A & P Thesis Statement
Thus, total factor productivity growth has increased over time up to the 1970s, only to decrease to its long run level in the last decades.
Investments and foreign trade became very dynamic ingredients with the onset of industrialization.
They were to remain so during the following periods as well.
The slow down in Swedish growth from the 1970s may be considered in this perspective.
While in most other countries growth from the 1970s fell only in relation to growth rates in the golden post-war ages, Swedish growth fell clearly below the historical long run growth trend. The 1970s certainly meant the end to a number of successful growth trajectories in the industrial society.