TERMS OF TRADE AND ECONOMIC GROWTH IN NINETEENTH CENTURY BRITAIN*
作者:
Douglas A. Irwin,
期刊:
Bulletin of Economic Research
(WILEY Available online 1991)
卷期:
Volume 43,
issue 1
页码: 93-101
ISSN:0307-3378
年代: 1991
DOI:10.1111/j.1467-8586.1991.tb00486.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
ABSTRACTInternational trade and economic growth have been considered intimately linked in nineteenth century Britain. Conventional estimates of Britain's gross national product, however, fail to account for changes in the terms of trade and may be misleading indicators of changes in real income. Revised figures that incorporate terms of trade changes are presented here. One finding is that conventional estimates of GNP overstate growth in real income early in the century when the terms of trade deteriorated.
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