| Title |
New Gross Domestic Product (GDP) Benchmark Estimate for Latvia in 1935 / |
| Authors |
Norkus, Zenonas ; Markevičiūtė, Jurgita ; Grytten, Ola Honningdal ; Krūminš, Gatis |
| ISBN |
9788382771268 |
| Full Text |
|
| Is Part of |
Selected aspects of modernization processes in “Younger Europe”. Past and present / editors: Paweł Grata, Jarosław Kinal.. Rzeszów : Wydawnictwo Uniwersytetu Rzeszowskiego, 2023. p. 30-50.. ISBN 9788382771268 |
| Keywords [eng] |
Gross Domestic Product (GDP) ; Benchmark GDP Estimate ; Latvia 1918– 1940 ; Historical National Accounts ; Cross-National Wealth Comparison |
| Abstract [eng] |
The interwar independent Republic of Latvia was among the first ten pioneering states, where a national statistical office published official estimates of total output (1934–1936). Paradoxically; however, Latvia is the Baltic country with the most disputed interwar economic growth performance. According to the authoritative account of Roses and Wolf in The Cambridge Economic History of Modern Europe (2010), Latvia‘s GDP per capita growth rate was the highest among uropean countries in 1929–1938. It impressively ranked number ten next to Sweden, France, and Norway. However, according to Norkus and Markevičiūtė (2021), it only surpassed Southern European countries, and its growth performance was mediocre. Both these contradictory estimates are derived by indirect methods. This paper contributes to the resolution of this controversy, directly estimating Latvia‘s GDP in 1935 within the SNA 2008 framework, providing gross value-added calculation for 20 ISIC industries at basic and at market prices. It provides a more fine-grained analysis of the composition of Latvia‘s total output in comparison with interwar historical national accounts, where only 11 industries were distinguished. This estimate provides the benchmark for future research on Latvia‘s interwar economic growth performance. Converting our estimates into monetary units, used in the Maddison Project Database, we assess Latvia’s position in the international GDPpc rankings. coming to conclusions that are closer to Norkus and Markevičiūtė (2021) findings. |
| Published |
Rzeszów : Wydawnictwo Uniwersytetu Rzeszowskiego, 2023 |
| Type |
Book part |
| Language |
English |
| Publication date |
2023 |
| CC license |
|
