 An Expenditure Estimate of Irish GDP (At Market Prices) in 1907Andy Bielenberg and
Patrick O'Mahony
No WP064, Papers from Economic and Social Research Institute (ESRI) Abstract: This article fundamentally challenges the notion that Ireland was a peripheral or underdeveloped economy relative to other European economies at the beginning of this century. Through an empirical investigation of consumer expenditure in Ireland in 1907, a new estimate of Irish GDP has been generated which is compatible with Feinstein's consumer expenditure consumer estimates for the UK. From this is it possible to estimate Ireland's GDP per capita in 1907, and compare Ireland's relative level of per capita income to that of the UK; it is then possible to place Ireland in Madison's league table for a number of advanced capitalist economies. This clearly places Ireland among the more advanced economies in the world. The article concludes that Ireland's improving relative position between 1850 and 1907 was achieved by favourable trade conditions and a growth in trade, a growth in productivity, an a-typical fall in population, and wage convergence with the UK and the USA. The conclusion suggests that free trade and Ireland's close trading relationship with the UK, had brought significant benefits to the Irish economy between 1850 and 1907. Pages: 23 pages Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:esr:wpaper:wp064 Access Statistics for this paper More papers in Papers from Economic and Social Research Institute (ESRI) Contact information at EDIRC. |
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