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Unfolding the Turbulent Century: A Reconstruction of China's Historical National Accounts, 1840–1912

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  • Ye Ma
  • Herman de Jong

Abstract

This paper reconstructs China's economic development between 1840 and 1912 with an estimation of Gross Domestic Product (GDP). It provides for the first time a time series of GDP (per capita) for the late Qing Dynasty (1644–1911), based on sectoral output and value added, in current as well as in constant prices. The present estimation of per capita GDP in the late Qing period comes out higher than previous estimations, but it still suggests low average levels of Chinese living standards. The economy during the late Qing Empire was characterized by a large and growing agricultural sector and displayed only minor structural changes. Only in the beginning of the twentieth century did the economy start to show signs of growth.

Suggested Citation

  • Ye Ma & Herman de Jong, 2019. "Unfolding the Turbulent Century: A Reconstruction of China's Historical National Accounts, 1840–1912," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 65(1), pages 75-98, March.
    • Handle: RePEc:bla:revinw:v:65:y:2019:i:1:p:75-98
    DOI: 10.1111/roiw.12314
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    Cited by:

    1. Ma, Debin, 2021. "Ideology and the Contours of Economic Changes in Modern China during 1850-1950," CEPR Discussion Papers 15835, C.E.P.R. Discussion Papers.
    2. Peter M. Solar, 2021. "China, Europe, and the Great Divergence: Further Concerns about the Historical GDP Estimates for China," Working Papers 0217, European Historical Economics Society (EHES).
    3. Broadberry, Stephen & Guan, Hanhui, 2022. "Regional variation of GDP per head within China, 1080-1850: Implications for the Great Divergence debate," CEPR Discussion Papers 17457, C.E.P.R. Discussion Papers.

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