Revised Real GNP Estimates and Canadian Economic Development
The Review of Income and Wealth, Vol. 38, No. 4, pp. 455-473, 1992
Posted: 16 Jan 2010
Date Written: 1992
Revised Canadian real GNP estimates for the 1870-1926 period, based on the nominal GNP estimates constructed by M. C. Urquhart and on a variety of sector-specific price indexes, are presented. The construction of this revised real GNP series allows for the creation of real output estimates for the major sectors of the Canadian economy as well as for a new implicit price index series. These revised estimates cast new light on the present understanding of Canadian economic growth and reinforce the view that the Canadian wheat boom probably played an important and positive role in the process of Canadian economic development.
Keywords: Canada, GNP, Price indexes, Output, Wheat boom, Economic development
JEL Classification: O40, E01
Suggested Citation: Suggested Citation