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Regional GDP in the UK , 1861–1911: new estimates
Author(s) -
Geary Frank,
Stark Tom
Publication year - 2015
Publication title -
the economic history review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.014
H-Index - 49
eISSN - 1468-0289
pISSN - 0013-0117
DOI - 10.1111/1468-0289.12061
Subject(s) - economics , purchasing power parity , productivity , econometrics , purchasing , function (biology) , parity (physics) , production (economics) , demographic economics , monetary economics , macroeconomics , operations management , biology , exchange rate , physics , particle physics , evolutionary biology
This article compares the G eary– S tark method for distributing known GDP totals across regions with a variation suggested by C rafts. Tests of the G eary– S tark method confirm that it generates accurate estimates of regional GDP . There are practical and conceptual problems with C rafts' extension, and it is not tested nor is it testable. New estimates of regional GDP for the period 1861 to 1911 contradict C rafts's suggestion of rising regional inequality. Purchasing power parity adjustments do not alter this trend. The new estimates confirm I reland's post‐ F amine catch‐up. The great bulk of I rish labour productivity growth can be accounted for by an upward shifting production function, though it can be argued that that portion of growth that represents catch‐up may be attributable to labour force decline.