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2018 | OriginalPaper | Buchkapitel

46. Historical National Accounting

verfasst von : Herman J. de Jong, Nuno Palma

Erschienen in: An Economist’s Guide to Economic History

Verlag: Springer International Publishing

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Abstract

Historical national accounting helps to reconstruct productivity and income indicators for past periods. This chapter presents recent results of such a reconstruction for seven world regions. Strategies for both the pre-statistical age and more modern periods, in which national accounting data are more abundant, help to anticipate opportunities and challenges when constructing and interpreting historical income and productivity measures.

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Vorheriges Kapitel Econometric Identification

Nächstes Kapitel Productivity, Innovation and Social Savings

For information about the underlying sources, see Palma (2019).

This is known as the Balassa-Samuelson effect, or the “Penn” effect.

In dividing the world into regions, we follow the usual labelling convention, though there is no good reason why countries such as the USA or Australia are classified as Western offshoots, but Argentina or Brazil are in a different category.

Malanima (2011), Ridolfi (2016), Álvarez-Nogal and Prados de la Escosura (2013), Palma and Reis (2018), Malinowski and van Zanden (2017).

Deaton and Muellbauer (1980), Wrigley (1985), Crafts (1984), Allen (2000).

See, however, Humphries and Weisdorf (2015).

A more restrictive, “barebones” basket is considered by Allen et al. (2012).

Strasbourg was chosen by Allen (2000) largely for reasons of convenience. Allen (2017) improves on this by allowing food baskets to vary with respect to local and time-specific consumption patterns.

There is no response as suggested by Engel’s law. With more income, people are here assumed to buy more baskets under the same proportions, and excluding luxuries.

Also, no housing costs are considered (Allen 2001: 422).

As is the case for modern economies, it is hard to control for quality changes and the appearance of new goods, many of which appeared for the first time in Europe in the early modern period, including maise, potatoes, and tomatoes.

An important alternative method to arrive from PPPs to the Geary-Khamis 1990 “international” dollars is the short-cut method proposed by Prados de la Escosura (2000).

For recent papers which tackle some of these problems, see Aghion et al. (2017), Abidrahman et al. (2017) and Coyle (2018).

This problem exists not only with historical, but also modern national accounts and is perhaps worse for modern economies, given the much larger size of their public sector. Strong assumptions to estimate value are typically made using cost data.

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Titel: Historical National Accounting
verfasst von: Herman J. de Jong
Nuno Palma
Verlag: Springer International Publishing
Buch: An Economist’s Guide to Economic History
Print ISBN: 978-3-319-96567-3

Electronic ISBN: 978-3-319-96568-0

Copyright-Jahr: 2018
DOI: https://doi.org/10.1007/978-3-319-96568-0_46