ABSTRACTRecent advances in historical national accounting have allowed for global comparisons of GDPper capitaacross space and time. Critics have argued that GDPper capitafails to capture adequately the multi-dimensional nature of welfare, and have developed alternative measures such as the human development index. Whilst recognising that these wider indicators provide an appropriate way of assessing levels of welfare, we argue that GDPper capitaremains a more appropriate measure for assessing development potential, focussing on production possibilities and the sustainability of consumption. Twentieth-century Africa and pre-industrial Europe are used to show how such data can guide reciprocal comparisons to provide insights into the process of development on both continents.
The Degree of Determination of National Accounting Systems - an Empirical Investigation
