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The World Economy

Volume 1: A Millennial Perspective and Volume 2: Historical Statistics

image of The World Economy

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, a service providing access to the underlying data in Excel® format.  These two volumes bring together estimates of world GDP for the past 2000 years and provide a unique perspective on the rise and fall of economies historically.

"One controversial clash of theories fueled by Maddison's data concerns the relative status of (growth in) the West versus the rest. The figures (in this book) are enriching economists' understanding of what make economies grow, and may even make it possible to reject some of the most prominent historical explanations." Diane Coyle, author of The Soulful Science, former economics editor of The Independent newspaper.

 

"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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Asia

OECD Development Centre

Estimates for Asia are shown in three groups. The first consists of 16 East Asian countries which produced 88 per cent of Asian GDP and had 89 per cent of Asian population in 2001. For these countries the GDP estimates are well documented and of reasonable quality for 1950 onwards and scholars have been active in developing historical accounts for earlier years. There have been major problems for China where official estimates of GDP exaggerate growth and understate its level. Maddison (1998), Chinese Economic Performance in the Long Run, OECD, Paris, provides a detailed examination of these problems and makes adjustments to provide a close approximation to Western SNA accounting practice. Chinese official statisticians adopted SNA norms several years ago. Misstatement is not deliberate, but is a transitional problem in moving away from a detailed reporting practice inherited from the long period in which the norms of the Soviet material product system (MPS) prevailed...

English

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