IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this article

International Comparisons of Real Product, 1820-1990: An Alternative Data Set

Listed author(s):
  • Prados de la Escosura, Leandro

In this paper a new set of current price estimates of per capita income, adjusted for each currency's purchasing power, is presented for more than twenty countries over the last one and a half centuries. A short-cut method is used to derive current price comparisons for countries and periods in which aggregate PPPs are not available. Current price estimates of PPP-adjusted GDP appear to be more economically sound than constant price figures as economic agents react to current, not to constant, prices and, therefore, would allow us more appropiate cross-country comparisons of welfare and productivity. Moreover, the new estimates tend to mitigate the index number problem by rendering less remote benchmarks for constant price comparisons than widely used datasets at constant 1985 or 1990 "international" dollars. Country rankings in the new data set are different from those provided by earlier cross-country comparisons and among the new findings the earlier US leadership and the closer position of Britain and France over the long 191h century can be highlighted.

(This abstract was borrowed from another version of this item.)

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.sciencedirect.com/science/article/pii/S0014-4983(99)90731-3
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Elsevier in its journal Explorations in Economic History.

Volume (Year): 37 (2000)
Issue (Month): 1 (January)
Pages: 1-41

as
in new window

Handle: RePEc:eee:exehis:v:37:y:2000:i:1:p:1-41
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622830

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as
in new window

  1. Robert C. Feenstra, "undated". "Integration Of Trade And Disintegration Of Production In The Global Economy," Department of Economics 98-06, California Davis - Department of Economics.
  2. O'Rourke, Kevin H & Taylor, Alan M & Williamson, Jeffrey G, 1996. "Factor Price Convergence in the Late Nineteenth Century," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(3), pages 499-530, August.
  3. Ahmad, Sultan, 1994. "Improving inter-spatial and inter-temporal comparability of national accounts," Journal of Development Economics, Elsevier, vol. 44(1), pages 53-75, June.
  4. Perkins, Dwight H. & Syrquin, Moshe, 1989. "Large countries: The influence of size," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 2, chapter 32, pages 1691-1753 Elsevier.
  5. Dan Ben-David & Michael B. Loewy, 1997. "Free Trade, Growth, and Convergence," NBER Working Papers 6095, National Bureau of Economic Research, Inc.
  6. Williamson Jeffrey G., 1995. "The Evolution of Global Labor Markets since 1830: Background Evidence and Hypotheses," Explorations in Economic History, Elsevier, vol. 32(2), pages 141-196, April.
  7. Kravis, Irving B, 1984. "Comparative Studies of National Incomes and Prices," Journal of Economic Literature, American Economic Association, vol. 22(1), pages 1-39, March.
  8. Summers, Robert & Heston, Alan, 1984. "Improved International Comparisons of Real Product and Its Composition: 1950-1980," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 30(2), pages 207-262, June.
  9. Matthew Simon, 1960. "The United States Balance of Payments, 1861-1900," NBER Chapters, in: Trends in the American Economy in the Nineteenth Century, pages 629-716 National Bureau of Economic Research, Inc.
  10. J. L. Van Zanden, 1991. "The first green revolution: the growth of production and productivity in European agriculture, 1870-1914," Economic History Review, Economic History Society, vol. 44(2), pages 215-239, 05.
  11. Alan M. Taylor, 1997. "Argentina and the World Capital Market: Saving, Investment, and International Capital Mobility in the Twentieth Century," NBER Working Papers 6302, National Bureau of Economic Research, Inc.
  12. Kevin H. O'Rourke & Jeffrey G. Williamson, 1995. "Around the European periphery 1870-1913 : globalization, schooling and growth," Working Papers 199517, School of Economics, University College Dublin.
  13. Douglass North, 1960. "The United States Balance of Payments, 1790-1860," NBER Chapters, in: Trends in the American Economy in the Nineteenth Century, pages 573-628 National Bureau of Economic Research, Inc.
  14. Irving B. Kravis & Robert E. Lipsey, 1991. "The International Comparison Program: Current Status and Problems," NBER Chapters, in: International Economic Transactions: Issues in Measurement and Empirical Research, pages 437-468 National Bureau of Economic Research, Inc.
  15. Prados de la Escosura, Leandro & O'Brien, Patrick K., 1992. "Agricultural productivity and european industrialization, 1890-1980," UC3M Working papers. Economics 2829, Universidad Carlos III de Madrid. Departamento de Economía.
  16. Samuelson, Paul A, 1974. "Analytical Notes on International Real-Income Measures," Economic Journal, Royal Economic Society, vol. 84(335), pages 595-608, September.
  17. Ritschl Albrecht & Spoerer Mark, 1997. "Das Bruttosozialprodukt in Deutschland nach den amtlichen Volkseinkommens- und Sozialproduktsstatistiken 1901-1995," Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, De Gruyter, vol. 38(2), pages 27-54, December.
  18. Nuxoll, Daniel A, 1994. "Differences in Relative Prices and International Differences in Growth Rates," American Economic Review, American Economic Association, vol. 84(5), pages 1423-1436, December.
  19. Broadberry, S.N., 1992. "Comparative Productivity in British and American Manufacturing During the Nineteenth Century," The Warwick Economics Research Paper Series (TWERPS) 399, University of Warwick, Department of Economics.
  20. Estevadeordal, Antoni, 1997. "Measuring protection in the early twentieth century," European Review of Economic History, Cambridge University Press, vol. 1(01), pages 89-125, April.
  21. Wright, Gavin, 1990. "The Origins of American Industrial Success, 1879-1940," American Economic Review, American Economic Association, vol. 80(4), pages 651-668, September.
  22. Kevin O'Rourke & Alan M. Taylor & Jeffrey G. Williamsmn, 1996. "Land, Labor and the Wage-Rental Ratio: Factor Price Convergence in the Late Nineteenth Century," NBER Historical Working Papers 0046, National Bureau of Economic Research, Inc.
  23. Crafts, N. F. R., 1984. "Economic Growth in France and Britain, 1830–1910: A Review of the Evidence," The Journal of Economic History, Cambridge University Press, vol. 44(01), pages 49-67, March.
  24. Crafts, N. F. R., 1997. "The Human Development Index and changes in standards of living: Some historical comparisons," European Review of Economic History, Cambridge University Press, vol. 1(03), pages 299-322, December.
  25. David, Paul A & Wright, Gavin, 1997. "Increasing Returns and the Genesis of American Resource Abundance," Industrial and Corporate Change, Oxford University Press, vol. 6(2), pages 203-245, March.
  26. Summers, Robert & Heston, Alan, 1988. "A New Set of International Comparisons of Real Product and Price Levels Estimates for 130 Countries, 1950-1985," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 34(1), pages 1-25, March.
  27. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
  28. Dollar, David, 1992. "Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 LDCs, 1976-1985," Economic Development and Cultural Change, University of Chicago Press, vol. 40(3), pages 523-544, April.
  29. David, Paul A, 1972. "Just How Misleading Are Official Exchange Rate Conversions?," Economic Journal, Royal Economic Society, vol. 82(327), pages 979-990, September.
  30. Maddison, Angus, 1983. "A Comparison of Levels of GDP Per Capita in Developed and Developing Countries, 1700–1980," The Journal of Economic History, Cambridge University Press, vol. 43(01), pages 27-41, March.
  31. Dowrick, Steve & Quiggin, John, 1997. "True Measures of GDP and Convergence," American Economic Review, American Economic Association, vol. 87(1), pages 41-64, March.
  32. Isenman, Paul, 1980. "Inter-country comparison of `real' (PPP) incomes: Revised estimates and unresolved questions," World Development, Elsevier, vol. 8(1), pages 61-72, January.
  33. Michael D. Bordo & Anna J. Schwartz, 1996. "The Specie Standard As A Contingent Rule: Some Evidence for Core and Peripheral Countries, 1880-90," Departmental Working Papers 199411, Rutgers University, Department of Economics.
  34. Balassa, Bela, 1974. "The Rule of Four-Ninths: A Rejoinder," Economic Journal, Royal Economic Society, vol. 84(335), pages 609-614, September.
  35. Lazaretou Sophia, 1995. "Government Spending, Monetary Policies, and Exchange Rate Regime Switches: The Drachma in the Gold Standard Period," Explorations in Economic History, Elsevier, vol. 32(1), pages 28-50, January.
  36. Balke, Nathan S & Gordon, Robert J, 1989. "The Estimation of Prewar Gross National Product: Methodology and New Evidence," Journal of Political Economy, University of Chicago Press, vol. 97(1), pages 38-92, February.
  37. Heston, Alan & Summers, Robert, 1996. "International Price and Quantity Comparisons: Potentials and Pitfalls," American Economic Review, American Economic Association, vol. 86(2), pages 20-24, May.
  38. Irwin, Douglas A, 1996. "The United States in a New Global Economy? A Century's Perspective," American Economic Review, American Economic Association, vol. 86(2), pages 41-46, May.
  39. Clague, Christopher, 1986. "Determinants of the National Price Level: Some Empirical Results," The Review of Economics and Statistics, MIT Press, vol. 68(2), pages 320-323, May.
  40. Summers, Robert & Kravis, Irving B & Heston, Alan, 1980. "International Comparisons of Real Product and Its Composition: 1950-77," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 26(1), pages 19-66, March.
  41. Rankin, Keith, 1992. "New Zealand's Gross National Product: 1859-1939," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 38(1), pages 49-69, March.
  42. Heston, Alan & Nuxoll, Daniel A & Summers, Robert, 1994. "The Differential-Productivity Hypothesis and Purchasing-Power Parties: Some New Evidence," Review of International Economics, Wiley Blackwell, vol. 2(3), pages 227-243, October.
  43. Robert Summers & Alan Heston, 1991. "The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950–1988," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 327-368.
  44. Buyst, Erik, 1997. "New GNP Estimates for the Belgian Economy during the Interwar Period," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 43(3), pages 357-375, September.
  45. Feder, Gershon, 1983. "On exports and economic growth," Journal of Development Economics, Elsevier, vol. 12(1-2), pages 59-73.
  46. den Bakker, Gert P & Huitker, Theo A & van Bochove, Cornelis A, 1990. "The Dutch Economy 1921-39: Revised Macroeconomic Data for the Interwar Period," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 36(2), pages 187-206, June.
  47. Pryor, Frederic L, et al, 1971. "Czechoslovak Aggregate Production in the Interwar Period," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 17(1), pages 35-59, March.
  48. Clague, Christopher, 1986. "Short-Cut Estimates of Real Income," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 32(3), pages 313-331, September.
  49. Crafts, N F R, 1984. "Patterns of Development in Nineteenth Century Europe," Oxford Economic Papers, Oxford University Press, vol. 36(3), pages 438-458, November.
  50. Kravis, Irving B, 1976. "A Survey of International Comparisons of Productivity," Economic Journal, Royal Economic Society, vol. 86(341), pages 1-44, March.
  51. Good, David F., 1994. "The Economic Lag of Central and Eastern Europe: Income Estimates for the Habsburg Successor States, 1870–1910," The Journal of Economic History, Cambridge University Press, vol. 54(04), pages 869-891, December.
  52. Williamson, Jeffrey G., 1996. "Globalization, Convergence, and History," The Journal of Economic History, Cambridge University Press, vol. 56(02), pages 277-306, June.
  53. Daban, Teresa & Domenech, Rafael & Molinas, Cesar, 1997. "International and Intertemporal Comparisons of Real Product in OECD Countries: A Growth Sensitivity Analysis," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 43(1), pages 33-48, March.
  54. O'Rourke, Kevin & Williamson, Jeffrey G., 1994. "Late Nineteenth-Century Anglo-American Factor-Price Convergence: Were Heckscher and Ohlin Right?," The Journal of Economic History, Cambridge University Press, vol. 54(04), pages 892-916, December.
  55. Bhagwati, Jagdish N, 1984. "Why Are Services Cheaper in the Poor Countries?," Economic Journal, Royal Economic Society, vol. 94(374), pages 279-286, June.
  56. O. J. Firestone, 1960. "Development of Canada's Economy, 1850-1900," NBER Chapters, in: Trends in the American Economy in the Nineteenth Century, pages 217-252 National Bureau of Economic Research, Inc.
  57. Balassa, Bela, 1973. "Just How Misleading are Official Exchange Rate Conversions?: Comment," Economic Journal, Royal Economic Society, vol. 83(332), pages 1258-1267, December.
  58. Nelson, Richard R & Wright, Gavin, 1992. "The Rise and Fall of American Technological Leadership: The Postwar Era in Historical Perspective," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 1931-1964, December.
  59. Crafts, N. F. R., 1983. "Gross national product in Europe 1870-1910: Some new estimates," Explorations in Economic History, Elsevier, vol. 20(4), pages 387-401, October.
  60. Samuelson, Paul A, 1994. "Facets of Balassa-Samuelson Thirty Years Later," Review of International Economics, Wiley Blackwell, vol. 2(3), pages 201-226, October.
  61. Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72, pages 584-584.
  62. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
  63. Kravis, Irving B & Heston, Alan W & Summers, Robert, 1978. "Real GDP per Capita for More Than One Hundred Countries," Economic Journal, Royal Economic Society, vol. 88(350), pages 215-242, June.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:eee:exehis:v:37:y:2000:i:1:p:1-41. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.