The World Economy: A Millennial Perspective/ Historical Statistics

656 Pages·2007·2.96 MB·English

by  Angus Maddison

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Development Centre Studies Development Centre Studies
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The World Economy A
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VOLUME 1: A MILLENNIAL PERSPECTIVE I
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VOLUME 2: HISTORICAL STATISTICS
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The World Economy brings together two reference works by Angus Maddison: The World
Economy: A Millennial Perspective, first published in 2001 and The World Economy:
Historical Statistics, published in 2003. This new edition contains StatLinks, which allow you
VOLUME 1: A MILLENNIAL PERSPECTIVE
to download the tables in Excel® format.
VOLUME 2: HISTORICAL STATISTICS
The World Economy is a “must” for scholars and students of economics and economic
history as well as for statisticians, while the casual reader will find much of fascinating
interest.
On The World Economy: A Millennial Perspective:
“A tour de force. What a wonderful gift for the new century.” Robert Mundell, Nobel Prize
winner and Professor of Economics, Columbia University.
“An essential reference for anyone interested in global development for many years to
come.” Paul Krugman, Professor of Economics, Princeton University.
“Quite simply a dazzling essay.” Nicholas Eberstadt, American Enterprise Institute.
“Highly recommended . . . refreshing and full of historical information. An important book.”
Kisanhani F. Emizet, Kanzas University, writing in International Politics.
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ANGUS MADDISON
This work is published under the auspices of the OECD
Development Centre. The Centre promotes comparative
development analysis and policy dialogue, as described at:
ISBN 92-64-02261-9 -:HSTCQE=UWW[VY:
www.oecd.org/dev 41 2006 02 1 P
Development Centre Studies
The World Economy
Volume 1: A MILLENNIAL PERSPECTIVE
Volume 2: HISTORICAL STATISTICS

DEVELOPMENT CENTRE OF THE ORGANISATION
FOR ECONOMIC CO-OPERATION AND DEVELOPMENT
ORGANISATION FOR ECONOMIC CO-OPERATION
AND DEVELOPMENT
Pursuant to Article 1 of the Convention signed in Paris on 14th December 1960, and which came
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shall promote policies designed:
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living in member countries, while maintaining financial stability, and thus to contribute to the
development of the world economy;
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process of economic development; and
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The purpose of the Centre is to bring together the knowledge and experience available in member
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Table of Contents
Foreword
This publication brings together two reference works by Angus Maddison: The World Economy:
A Millennial Perspective, published in 2001 and The World Economy: Historical Statistics, which was
released in 2003.
The first volume provides a comprehensive view of the growth and levels of world population
since the year 1000, when rich countries of today were poorer than Asia and Africa. It is a pioneering
effort to quantify the economic performance of nations over the very long term, identifying forces
which explain the success of the rich countries, and exploring the obstacles that hindered advance in
less developed regions.
In the second volume, Angus Maddison offers a rare insight into the history and political influence
of national accounts and national accounting. Based on revised and updated population estimates for
1950-2003 and GDP and per capita GDP estimates for 1820 to 2001, he demonstrates that such
statistical data can shed light on the analysis of economic phenomena like growth, market formation
and income distribution. This approach is particularly interesting for developing countries often lacking
the expertise or data to produce good national accounts. It also serves as a reminder for OECD countries
that effective policy making depends on verifiable economic data.
The World Economy is a monumental work of reference and a “must” for all scholars and students
of economics and economic history, as well as a mine of fascinating facts for everyone else. An attractive
feature of this new edition is the inclusion of Statlinks, which provide access to the underlying data in
Excel® format.
Further analysis and data compiled by Angus Maddison can be found at: www.ggdc.net/Maddison
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Table of Contents
T W E
HE ORLD CONOMY
Volume 1: A Millennial Perspective
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Table of Contents
Foreword
Shortly after my arrival at the OECD in 1996, I came upon the study by Angus Maddison
“Monitoring the World Economy 1820–1992”. It is a fascinating and stimulating work providing a
complete coverage of the world economy during the period in question. It brought together data of
some 56 countries accounting for 93 per cent of the world output and 87 per cent of the world population
and world exports. It never left my desk. Probably I was not alone in my appreciation of this quite
extraordinary work, as I kept coming on references to it in the work of other authors.
As we were nearing the end of the twentieth century, it seemed to me that this study could
undergo some slight revisions to make it more attractive to general readership, and brought up to the
close of the century and of the second millennium. I discussed the project with Professor Maddison
and, to my delight, he agreed.
From his enormous energy and intellectual capacity emerges a far greater work in depth and
scope than anything I had imagined possible. This book covers the development of the entire world
economy over the past two thousand years. The author takes a (quite literally) global view of world
growth over that period, examining both changes over time and between different regions. The book
has a wider ambit than any previous OECD publication or, indeed, than almost any other publication
in the market worldwide. First, the scope of the analysis is breath–taking. Second, there must be few (if
any) economic history books so wide in their reach, in terms of both geography and history. Third,
although his approach is economic, it is not narrowly so and draws on many other subjects — history,
geography, demography and more — on the path to its conclusions; this multidisciplinary sweep gives
the book great value.
Because of its value and its global reach, I am sure it will find a global readership, as an authoritative
reference for academics, students, professionals and general readership.
I predict it will find its place in homes, offices and libraries in every corner of the world, and for
many years to come. It will undoubtedly be the foundation for further works of this kind during the
millennium we have just entered.
We should all be extremely grateful to Angus Maddison for having taken on this challenge with
results which far exceed my original expectations.
John Maynard Keynes wrote that the master economist should “examine the present in light of the
past, for the purposes of the future”. Never before have we had such a rich resource at our disposal to
pursue that objective.
Donald Johnston
OECD Secretary–General
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Table of Contents
Table of Contents
Acknowledgements......................................................................................................................................17
Preface.........................................................................................................................................................18
Introduction and Summary...........................................................................................................................19
Chapter 1 The Contours of World Development .....................................................................................29
Chapter 2 The Impact of Western Development on the Rest of the World, 1000–1950...........................51
Chapter 3 The World Economy in the Second Half of the Twentieth Century........................................125
Appendix A World Population, GDP and GDP Per Capita, Benchmark Years, 1820–1998.......................169
Appendix B World Population, GDP and GDP Per Capita Before 1820....................................................229
Appendix C Annual Estimates of Population, GDP and GDP Per Capita for 124 Countries,
Seven Regions and the World 1950–98................................................................................267
Appendix D Growth and Levels of Performance in 27 Formerly Communist Countries,
1990–98...............................................................................................................................335
Appendix E Employment, Working Hours, and Labour Productivity.........................................................343
Appendix F Value and Volume of Exports, 1870–1998............................................................................357
Bibliography .............................................................................................................................................363
Text Tables
Table 1–1 Level and Rate of Growth of Population: World and Major Regions, 0–1998 A.D...................30
Table 1–2 Level and Rate of Growth of GDP Per Capita, World and Major Regions, 0–1998 A.D. ..........30
Table 1–3 Level and Rate of Growth of GDP: World and Major Regions, 0–1998 A.D. ...........................30
Table 1–4 Life Expectation and Infant Mortality, Both Sexes Combined, 33–1875 A.D............................31
Table 1–5a Birth Rates and Life Expectation, 1820–1998/99.....................................................................32
Table 1–5b Average Life Expectation for Groups A and B, 1000–1999......................................................34
Table 1–5c Rate of Growth of Life Expectation in Groups A and B, 1000–1999........................................34
Table 1–6a West European Population Levels, 0–1998 A.D.......................................................................34
Table 1–6b West European Population Growth Rates, 0–1998 A.D...........................................................34
Table 1–7a Population Growth: Western and Iberian Offshoots in Comparative Perspective,
1500–1998.............................................................................................................................37
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