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Real Gdp In The Seven Colonies Of Australasia: 1861–1991

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  • Paul A. Cashin

Abstract

Using data on regional money stocks, a variant of Fisher's (1911) quantity theory of money identity, and a technique first suggested by Doblin (1951) and Friedman (1961), this paper presents the first consistently‐based estimates of real GDP in each of the seven British colonies of Australasia for the period 1861–1991. Examination of the historical pattern of growth in the regional economies of Australasia has not previously been undertaken, due in particular to the dearth of data on aggregate incomes for the colonies (later states) of Australia. The data calculated here reveal the historical pattern of the domination of New South Wales, Victoria and New Zealand in real Australasian GDP, and the shrinkage of the cross‐sectional dispersion of real per capita GDP in the seven colonies over this 13 1‐year period.

Suggested Citation

  • Paul A. Cashin, 1995. "Real Gdp In The Seven Colonies Of Australasia: 1861–1991," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 41(1), pages 19-39, March.
    • Handle: RePEc:bla:revinw:v:41:y:1995:i:1:p:19-39
    DOI: 10.1111/j.1475-4991.1995.tb00091.x
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    Cited by:

    1. Brian D. Varian, 2022. "Revisiting the tariff‐growth correlation: The Australasian colonies, 1866–1900," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 62(1), pages 47-65, March.
    2. Ian W. Mclean, 2004. "Australian Economic Growth in Historical Perspective," The Economic Record, The Economic Society of Australia, vol. 80(250), pages 330-345, September.
    3. Cairns, George & Wright, George & Fairbrother, Peter & Phillips, Richard, 2017. "‘Branching scenarios’ seeking articulated action for regional regeneration – A case study of limited success," Technological Forecasting and Social Change, Elsevier, vol. 124(C), pages 189-202.
    4. Douglas A. Irwin, 2006. "The Impact of Federation on Australia's Trade Flows," The Economic Record, The Economic Society of Australia, vol. 82(258), pages 315-324, September.
    5. Giorgio Brosio, 2017. "Equalization transfers and convergence between federal and unitary systems: A contribution to their historical analysis," ECONOMIA PUBBLICA, FrancoAngeli Editore, vol. 2017(3), pages 21-66.
    6. Tarik M. Yousef, 2002. "Egypt's Growth Performance Under Economic Liberalism: A Reassessment with New GDP Estimates, 1885-1945," Working Papers 0211, Economic Research Forum, revised 11 Apr 2002.

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