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New Estimates of Australian GDP, 1861–1948/49
Author(s) -
Haig Bryan
Publication year - 2001
Publication title -
australian economic history review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.493
H-Index - 16
eISSN - 1467-8446
pISSN - 0004-8992
DOI - 10.1111/1467-8446.00072
Subject(s) - gross domestic product , interpretation (philosophy) , economics , product (mathematics) , set (abstract data type) , econometrics , history , economic history , classical economics , economy , macroeconomics , mathematics , computer science , geometry , programming language
This article uses recently available historical data to compile new estimates of gross domestic product by sector for Australia as an alternative to the estimates by Colin Clark and Noel Butlin. These data are then compared with Clark’s and Butlin’s series, and with historical experience, as set out by Coghlan in Labour and Industry in Australia (1918). We caution against accepting Butlin’s results, and question whether his data, even when reliable, can form the basis for a new interpretation of economic history.