Spain’s Historical National Accounts: Expenditure and Output, 1850-2015

This database offers a new set of historical national accounts that includes GDP estimates from the demand and supply sides and provides a statistical basis to investigate Spain’s economic performance during the last 166 years.

The database revises and expands the estimates in L. Prados de la Escosura, El Progreso Económico de España, 1850-2000 (Bilbao: Fundación BBVA, 2003).

Construction of the series

Historical output and expenditure series have been reconstructed for the century prior to the introduction of modern national accounts. Then, the available national accounts have been spliced through interpolation (as an alternative to conventional retropolation) providing new continuous series for 1958-2015. Lastly, the series for the ‘pre-statistical’ era (1850-1958) are linked to the spliced national accounts in order to obtain yearly series for GDP and its expenditure and output components over 1850-2015.

The database includes nominal (current price) and real, or volume (constant price) series for GDP and its expenditure and output components.

Nominal and real Gross National Income (GNI), Net National income (NNI), and Net National Disposable Income (NNDI) estimates are also offered.

Deflators (implicit price indices resulting from dividing nominal and volume series) are provided for GDP and its demand and supply (expenditure and output) components. Deflators for GNI, NNI, and NNDI are also available.

On the basis of new population estimates, per capita GDP is derived.

Labour productivity is presented on the basis of the new estimates of Gross Value Added (GVA) and new series of full-time equivalent (FTE) employment and hours worked.

Lastly, PPP-adjusted GDP per head –that is, adjusted for differences in price levels across country (purchasing-power parity, PPP)- is placed in comparative perspective (expressed in 2011 EKS dollars and 1990 Geary-Khamis dollars, respectively).

Database presentation

The database is presented as an EXCEL file with 28 spreadsheets.

The full list of variables is provided in the “Content” sheet.

Source: Leandro Prados de la Escosura (2016), Spain’s Historical National Accounts: Expenditure and Output, 1850-2015
https://ideas.repec.org/p/cte/whrepe/23644.html

Download data

Spain’s Historical National Accounts: Expenditure and Output, 1850-2015

Glossary

Gross Domestic Product (GDP) is the value at market prices of all final goods and services produced within a country during a given time period.

Expenditure-based GDP is total final expenditures at market prices (including the value of exports of goods and services), less the value of imports of goods and services.

GDP on the expenditure side equals private final consumption + government final consumption + gross capital formation + exports – imports.

Output-based GDP is the sum of the gross value added of various sectors at basic prices, plus all taxes less subsidies on products.

Gross Value Added (GVA) is defined as the value of all newly generated goods and services less the value of all goods and services consumed in their creation; the depreciation of fixed assets is not included.

The basic price is the amount receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products.

Nominal GDP is the value of GDP at current prices, here measured in millions of Euros.

Real GDP is the value of GDP at a given base year prices, here presented at constant (2010) market prices measured in millions of Euros

The use of a time series of GDP in constant prices rather than current prices removes the impact of price changes and shows the volume change in GDP.

The GDP Deflator is the price index used to measure changes in the overall level of prices for the goods and services that make up GDP. It is calculated as the ratio of nominal to real GDP and expressed in index form with 2010=100.

 Gross National Income at market prices (GNI) is the sum of incomes of residents of an economy in a given period. Equals GDP less net primary income from the rest of the world.
Note that Gross National Income (GNI) is identical to Gross National Product (GNP).

Net National Income at market prices (NNI) is GNI less consumption of fixed capital.
Consumption of fixed capital reflects the decline in the value of the fixed assets of enterprises, governments and owners of dwellings in the household sector.

Net National Disposable Income at market prices (NNDI) is NNI plus net current transfers from the rest of the world.

GDP per capita is the average GDP per person and is calculated by dividing either nominal or real GDP for a given year by the population in that year.

Labour productivity measures the amount of goods and services produced per input of labour.

Here, labour productivity is defined as Gross Value Added (GVA) per full-time equivalent (FTE) worker or per hour worked. It is expressed in index form with 2010=100.

Employment is the number of people engaged in productive activities in an economy, including both employees and the self-employed.

The number of full-time equivalent (FTE) workers is obtained as the ratio of the total number of hours worked in a year and the number of hours worked by a full-time worker in the same year.

PPP-adjusted Per Capita GDP represents GDP per person adjusted for differences in price levels across countries (purchasing-power parity (PPP) adjustment). Here it is expressed in 2011 EKS dollars and 1990 Geary-Khamis dollars, alternatively, in order to facilitate international comparisons.

PPPs tell us how many currency units a given quantity of goods and services costs in different countries.

Sources: Eurostat and OCDE glossaries.

FotoLeandroLeandro
Prados de la Escosura

Leandro Prados-de-la-Escosura (1951), D. Phil. (Oxford University) and Ph.D. (Universidad Complutense, Madrid), Professor of Economic History at Universidad Carlos III, Madrid. He is a Research Fellow at the Centre for Economic Policy Research (CEPR), a Research Associate at the Centre for Competitive Advantage in the Global Economy (CAGE), and a Corresponding Fellow of Spain’s Royal Academy of History. He currently holds the Honorary Maddison Chair at the University of Groningen.

He has taught at Georgetown University (Prince of Asturias Professor) and the University of California, San Diego. He has been Leverhulme Professor at the London School of Economics and Visiting Fellow at All Souls College, Oxford, and the LSE, and a Jean Monnet Fellow at the European University Institute, Florence.

He served as President of the European Historical Economics Society [EHES] and as a Trustee of the Cliometric Society and EHES. He belonged to the Executive Committee of the International Economic History Association.

He is currently an Editorial Board member of Cliometrica and Histoire Economique Quantitative and a member of the Scientific Advisory Committee of the European Review of Economic History, Explorations in Economic History, and the Scandinavian Economic History Review. He is a former editor of Revista de Historia Económica/ Journal of Iberian and Latin American Economic History.

He has contributed to the main journals in economic history and published and edited books on long-run growth and retardation in Spain, the economic consequences of Latin American independence, the costs and benefits of European imperialism, and British exceptionalism at the time of the Industrial Revolution.

He has been Team Leader at Carlos III University of the CEPR/ European Commission FP7 Collaborative Project “Historical Patterns of Development and Underdevelopment: Origins and Persistence of the Great Divergence”. His current research interests are economic freedom and wellbeing in historical perspective; growth, distribution, and welfare in Latin America since independence; and very long-run economic change and inequality in Spain.

leandro.prados.delaescosura@uc3m.es

https://uc3m.academia.edu/LPradosdelaEscosura

Research papers at: https://ideas.repec.org/e/ppr58.html

imagen_chne