Timeline of economic statistics

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This is a timeline of economic statistics.

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Year Month and date Event type Details Region based Region covered
1665 In an appendix to The Political Anatomy of Ireland titled Verbium Sapenti and subtitled Account of the Wealth and Expences of England and the Method of raising Taxes in the most Equal manner. Shewing also that the Nation can bear the charge of Four Millions per Annum, when the occasions of the Government require it.[1]:30 Willam Petty produces estimates of the income and expenditure, population, land, and other assets of England and Wales, in order to assess the country's resources to finance the Anglo-Dutch War through taxes. Based on these, he argues that more efficient use of the existing land, labor, and capital would allow England to outperform its competitors Holland and France. Petty also applies double-entry bookkeeping to keep national records.[2]:8 He uses his work to argue that taxing income, and not just land, can be an effective way to raise government revenue.[1]:32 The document would be published posthumously in 1691.[1]:30 Petty's approach would be inspirational to Colin Clark, pioneering 20th century UK economic statistician.[1]:42-43 United Kingdom United Kingdom
1676 Petty publishes his second estimate of England's national income, in a document titled Political Arithmetick, with subtitle The Extent of Value of Lands, People, Buildings. As the same relates to every Country in general, but more particularly to the Territories of His Majesty in Great Britain, and his neighbors of Holland and France. This would be published posthumously in 1690. The document emphasizes the importance of building infrastructure, agricultural progress, and increase in trade and economic activity as ways to increase national income. Petty also argues that an improved tax system can lead to more revenue to finance a better military.[1]:33-35 United Kingdom United Kingdom
1695 Charles Davenant publishes An Essay upon the Ways and Means of Supplying the War, with estimates in the same spirit as those of Petty.[2]:8 United Kingdom United Kingdom
1749 Government statistics The Tabellverket (Office of Tables) is set up in Sweden. This is the predecessor to Statistics Sweden, Sweden's statistics agency that publishes economic statistics. It does include population estimates, not clear what other estimates it includes that relate to modern economic statistics. Sweden Sweden
1776 In The Wealth of Nations, economist Adam Smith argues that only the production of physical goods (both agriculture and industry) should be counted in national income, not the production of services. Smith's view would be the dominant view, taken further by Karl Marx, until being overtaken by the views of Alfred Marshall.[2]:22
1781 Jacques Necker, the French finance minister, delivers a compte rende au roi, or report to the king, on the strength of the French economy. This allows the king to raise new loans.[2]:8-9 France France
1836 The second edition of Principles of Political Economy by Thomas Robert Malthus is published, and includes a lot of deliberations on the meaning and calculation of national income. Like Smith, Malthus includes only material goods in national income.[1]:43-44
1858 Government statistics Statistics Sweden (Swedish: Statistiska centralbyrån, abbreviated SCB) is founded. The agency is responsible for publishing Sweden's economic statistics figures to this day. Sweden Sweden
1868 Government statistics The first version of what would become the Bureau of Statistics in Japan is created. This would undergo many restructurings and renamings till reaching close to its present structure in 1984.[3] Japan Japan
1884 Government statistics The Bureau of Labor Statistics is founded. United States United States
1890 Principles Alfred Marshall's book Principles of Economics is published. In the book, Marshall firmly states, contra Adam Smith, that wealth consists of both material and non-material wealth (which would imply that both goods and services should be included in national accounting). The book would lead to the first phase of work on national income accounting.[2]:24[4] Three of Marshall's pupils would go on to lead instrumental work on national income accounting and economic statistics in the United Kingdom: Arthur Lyon Bowley, Alfred William Flux, and Josiah Stamp, 1st Baron Stamp.[4]
1895 Arthur Lyon Bowley publishes the first work in a series of works on national income accounting in the United Kingdom. This first work is Changes in Average Wages (Nominal and Real) in the United Kingdom Between 1860 and 1891 and is published by the Journal of the Royal Statistical Society.[4]:337 United Kingdom United Kingdom
1899 Government statistics Statistics Netherlands, also known as the Dutch Central Bureau, with Dutch name Centraal Bureau voor de Statistiek (CBS) is founded. Netherlands Netherlands
1907 Government statistics A Census of Production is undertaken in the United Kingdom. In the "General Introduction" to the Final Report, Alfred William Flux summarizes the result and includes estimates of value added by industry. In the final section, called "Production, Consumption, and Income of the UK", Flux makes possibly the first estimate of the United Kingdom's national income that does not use the income approach.[4]:336 United Kingdom United Kingdom
1910 Bowley's An Elementary Manual of Statistics is published. The second part of the book details sources of official statistics and has a chapter on the calculation of national income.[4]:339 United Kingdom United Kingdom
1916 The Conference Board, a non-profit business membership and research group organization that would grow to span 60 countries, is formed to mediate relationships between business and labor. It would publish several widely tracked economic indicators, such as the Total Economy Database.
1918 Government statistics The division that would later be called the Statistics of Income (SOI) division of the Internal Revenue Service (IRS) would start operating, under Dr. Edware White.[5] It would fulfill the mandate for publication of economic statistics created by the Revenue Act of 1916.[6] United States United States
1920 The Economics of Welfare by Arthur Cecil Pigou is published. The book explores the concept of "economic welfare" and its relation with (and disconnect from) national income.[1]:45-46
1921 July Government statistics The Survey of Current Business, a monthly publication, starts. It would eventually be under the Bureau of Economic Analysis. United States United States
1930s Colin Clark, an economic statistician at Cambridge University, publishes extensively on the United Kingdom's economic statistics, and heralds the second phase of work on national income accounting. In 1930, Clark is appointed to provide statistics to the newly created National Economic Advisory Council, the first body ever created by the UK government to provide formal economic advice.[2]:25 His first major work is National Income 1924-31, published 1932. In addition to publishing data, Clark also lambasts the poor state of economic statistics, arguing for more standardization in industry classification and complaining about companies refusing to share profit information.[4]:343-346 United Kingdom United Kingdom
1930s Simon Kuznets develops the initial version of the United States national income accounts and GDP calculation. In 1932, Congress asks Kuznets to begin work in 1932.[7] In 1934, Kuznets presents his progress (report titled "National Income, 1929-32") and cautions against its overuse.[8] In 1937, Kuznets presents completed calculations in a report to the United States Congress titled "National Income, 1929-35." United States United States
1940 The book How to Pay for the War: A Radical Plan for the Chancellor of the Exchequer by John Maynard Keynes is published. In the vein of similar 17th century works, it seeks to find ways to finance and justify the costs of a war that the United Kingdom is involved in, with Keynes relying heavily on the numbers published by Colin Clark in the 1930s. The book includes national income calculations that would prove influential in postwar economic statistics.[4]:347-349[1]:48 United Kingdom United Kingdom
1940 The book The Conditions of Economic Progress by Colin Clark is published. The culmination of several years of data gathering and effort, the book is the first large-scale international comparison of national accounts figures. The book also introduces the idea of the international unit, an early version of purchasing power parity-type calculations, to compare different countries by controlling for the different prices there. Clark finds that per capita living standards in the United States and Canada are about 14 times those in the poorest nations, and concludes that the age of plenty for all is far away. Clark's figures would be influential in the growth of development aid to the poorest nations after World War II. Clark's data also shows that as an economy gets richer, its employment structure shifts from agriculture and industry to services. Angus Maddison, an economist who would spend several decades reconstructing historical economic estimates, would speak highly of Clark's work.[1]:42-46[2]:65
1941 January 27 Government statistics A formal announcement is made to estabish the Central Statistical Office. Austin Robinson commissions Richard Stone and James Meade to publish the first set of modern official national accounts for the UK. These are published in April 1941 in a white paper titled Analysis of the Sources of War Finance and Estimate of the National Income and Expenditure in 1938 and 1940, in time for UK budget negotiations.[2]:30[1]:67 Responsibility for collation of the statistics is then passed off to the newly formed CSO, of which Richard Meade would become head.[1]:71 United Kingdom United Kingdom
1941 A request by the newly formed Office of Price Administration and Civil Supply to increase government expenditure in 1942 is rejected on the grounds that it will not increase GDP. At this time, government spending is not included in GDP; the rejection would be one reason for greater (and eventually successful) push to include government spending in GDP in subsequent years.[2]:27[1]:93 United States United States
1942 Government statistics The first American GNP statistics are published, distinguishing between the types of expenditure, including by government, and permitting economists to see the economy's potential for war production.[2]:28 United States United States
1944 July 1–22 The Bretton Woods Conference is held, leading to the creation of the International Monetary Fund and International Bank for Reconstruction and Development, and currency exchange standards. The use of GDP as a measure of a country's economic standing would be attributed to this conference.[9][8] United States Various
1944 September At a three-way meeting between the United States, United Kingdom, and Canada, Richard Stone (influenced by John Maynard Keynes), representing the UK delegation, pushes for the inclusion of government expenditure in GDP calculation, and his approach is accepted.[10]:33-35 Simon Kuznets, the main influence in United States GDP calculation, who is not in favor of Stone's method, is not present at the meeting to oppose Stone; the United States government officials, such as Milton Gilbert of the Commerce Department, are in favor of including government spending.[2]:27-28[1]:109 The change is believed to be a factor in making governments turn to increasing government spending to boost measured GDP, including European governments under pressure to show growth as a result of the Marshall Plan as well as developing country governments in the 1950s and 1960s.[10]:33-35
1946 Government statistics The Institut national de la statistique et des études économiques (INSEE) is founded. It is the successor to the National Statistics Service in Vichy France. It is responsible for publishing French national income accounts and GDP numbers. France France
1946 As part of the Marshall Plan, the United States government decides to tie aid to European countries to their progress in achieving GDP growth targets. To facilitate measurement of GDP, the US asks the Organization for European Economic Cooperation (OEEC) to monitor spending and economic growth in Europe. The OEEC asks Richard Stone to establish an office in Cambridge to crunch numbers on its behalf.[10]:35 France, United Kingdom Europe
1947 The United Nations Statistics Division (UNSD) is formed.
1947 The 1947 Report of the Sub-Committee on National Income Statistics of the League of Nations Committee of Statistical Experts under the leadership of Richard Stone is submitted.[11][12]
1948 Government statistics The Bureau of Statistics is founded.[13] The organization would undergo many reshuffles and renames and eventually become Statistics Korea (KOSTAT) on July 6, 2009.[13] South Korea South Korea
1951 May 2 Government statistics The Central Statistics Office (India), a government agency responsible for coordination of statistical activities in India, is set up in the cabinet secretariat. It is under the Ministry of Statistics and Programme Implementation. India India
1952 August 7 Government statistics The National Bureau of Statistics in China is founded. China China
1953 July 3 Government statistics The Federal Statistics Office of Germany is founded. Germany Germany
1953 SNA The first version of the United Nations System of National Accounts is published. This version has six standard accounts and a set of 12 standard tables presenting detail and alternative classifications of the flows in the economy. It is meant to be widely applicable across countries, both developed and developing.[11][14]
1954 An International Comparison of National Products and the Purchasing Power of Currencies by Milton Gilbert of the Organisation of European Economic Co-operation (OEEC, predecessor to the OECD), and Irving Kravis of the University of Pennsylvania, is published by the OEEC. This is a pioneering work on international comparison of production and purchasing power, and co-author Kravis would continue on to do a lot more influential work on internal price comparisons, including starting the International Comparison Program that would lead to the creation of the Penn World Table.[10]:35[15][16][17][18]:177–178[2]:65
1959 Eurostat is founded with its present name. Luxembourg Europe
1960 SNA The first update (and hence second version) of the United Nations System of National Accounts is published.[11][19]
1960s Maddison Angus Maddison begins his work on long-term economic growth.[20]:3 United States Various
1961 The Economics and Statistics Administration is founded. United States United States
1961 The Price Statistics Review Committee, informally known as the Stigler Commission, is convened to study the measurement of inflation in the United States. Based on its recommendations, the Bureau of Labor Statistics opens a price research division. United States United States
1964 SNA The second revision, and hence third version, of the United Nations System of National Accounts is published.[11][21]
1968 SNA A major new version of the United Nations System of National Accounts (SNA) is published.[22]
1968 ICP/PWT The International Comparison Program is established "as a joint venture of the United Nations Statistical Division (UNSD) and the International Comparisons Unit of the University of Pennsylvania with financial contributions from the Ford Foundation and the World Bank".[23] The ICP produces internationally comparable purchasing power parity estimates.[24]
1968 International comparison work for the System of National Accounts begins at the University of Pennsylvania. "Irving Kravis, a student of Kuznets, was the original leader of the work in developing procedures for utilizing prices collected in different countries." Alan Heston joins the project during this year.[25]
1968 Pakistani economist Mahbub ul Haq gives a famous speech in Karachi called "22 Families", lambasting the single-minded focus on GDP and noting that wealth in Pakistan is concentrated in the hands of 22 families.[10] Haq would later lead the efforts to create a Human Development Index (HDI) that would combine GDP-related measures with measures of education and life expectancy. Pakistan Pakistan
1969 MPS The Material Product System (MPS) is developed for use by communist countries. It is similar to SNA except that it counts only physical goods rather than both goods and services.[2]:62
1970 ESA The first version of the European System of Integrated Economic Accounts (ESA), an internationally compatible accounting framework used for statistical reporting in the European Union, is created.[26] Europe Europe
1970 ICP/PWT ICP data is published for this year (not sure how much later), covering 10 countries.[23]
1971 ICP/PWT Robert Summers joins the System of National Accounts international comparison project at the University of Pennsylvania, which would later lead to the Penn World Table.[25]
1971 The first unclassified edition of The World Factbook by the Central Intelligence Agency (CIA) in the United States is published. The Factbook includes economic statistics estimates such as GDP and GDP per capita estimates for all countries. United States Various
1971 Government statistics Statistics Canada, the agency that publishes statistics related to Canada's population, economy, society, and culture, is formed. Canada Canada
1972 January 1 The Bureau of Economic Analysis is established. United States United States
1972 In their book chapter Is Growth Obsolete?, William Nordhaus and James Tobin of Yale University introduce measures of economic welfare (MEW) and sustainable MEW (MEW-S) as alternatives to GDP.[27][28] These would be precursors to subsequent sophisticated indices of sustainable economic development.
1973 ICP/PWT ICP data is published for this year (not sure how much later), covering 16 countries.[23]
1975 ICP/PWT ICP data is published for this year (not sure how much later), covering 34 countries. After this comparison, the ICP discards its research status and becomes a regular part of the UNSD work program and is regionalized.[23]
1978 ICP/PWT "Real GDP Per Capita for More Than One Hundred Countries" by Irving Kravis, Alan W. Heston, and Robert Summers is published. This is the paper that would lead to the Penn World Table data.[29][9][18]:178
1978 ESA A slightly modified version of the European System of Integrated Economic Accounts (ESA) is published. The original ESA was published in 1970.[26] Europe Europe
1980 ICP/PWT ICP data is published for this year (not sure how much later), covering 60 countries.[23]
1982 ICP/PWT The second version of the Penn World Table, on which work started in 1975, is completed. This work is dubbed Phase III of the International Comparison Program. The paper provides a definitive account of the standard procedures of the ICP.[16] This is the first version to incorporate the Geary–Khamis dollar in international price comparisons.[18]:179
1983 The first Survey of Consumer Finances (SCF) by the United States Federal Reserve Board of Governors, in cooperation with the U.S. Department of the Treasury, is conducted. Previously, some similar surveys were conducted by the Bureau of Agricultural Economics and by the Survey Research Center at the University of Michigan.[30] United States United States
1985 ICP/PWT ICP data is published for this year (not sure how much later), covering 64 countries.[23]
1988 August 23 The Omnibus Foreign Trade and Competitiveness Act, signed into law August 23, leads to the creation of the National Trade Data Bank (NTDB) whose goal is to serve as a central repository of all federal trade-related data. In 1994, this would be renamed STAT-USA and operate on a cost-recovery basis (i.e., no federal appropriations).[31] STAT-USA would cease operating in 2010 but its data continues to be available from other sources.[32] United States United States
1989 Repetto and colleagues develop the concept of depreciation accounting, which factors in environmental depreciation.[33]
1989 Economic Accounting for Sustainable Development, a report by Yusuf Ahmad, Salah El Serafy and Ernst Lutz that compiles papers from several UNEP-World Bank sponsored workshops conducted after 1983, is published.[34] The central theme is that the System of National Accounts (SNA) is inadequate because it does not take into account other factors such as environmental impact.
1990 John Hartwick presents an accounting methodology to find NNP inclusive of the depletion of natural resource stock by representing the use of natural resources as "economic depreciation magnitudes".[35] This would lead to the System of Integrated Economic and Environmental Accounts (SEEA), published by the United Nations as an appendix to the 1993 SNA.[36]
1990 HDI The first Human Development Report, including the Human Development Index (HDI) is published by the Human Development Reports Office of the United Nations Development Programme. The HDI is a composite statistic of life expectancy, education, and per capita income indicators. The work is led by Pakistani economist Mahbub ul Haq, a critic of single-minded focus on GDP, and also incorporates ideas from the work of economist Amartya Sen.[2]:87
1991 The Federal Reserve Economic Data (FRED) starts off as an electronic bulletin board.[37] United States  ?
1992 The Groningen Growth and Development Centre (GGDC) is founded at the Economics Department of the University of Groningen.[38]
Early 1990s The Total Economy Database is first developed by the Groningen Growth and Development Centre at the University of Groningen. 2007, the database would be transferred from the University of Groningen to The Conference Board.[39]
1993 SNA A new version of the United Nations System of National Accounts (SNA) is published.[11] This is the first version of the SNA to receive its own website.[40]
1993 ICP/PWT ICP data is published for this year (not sure how much later), covering 117 countries (110 according to Coyle).[23][2]:67 Neither China nor India participates in this survey; China having never participated, and India having participated in 1985. Data for India is extrapolated from the 1985 survey.[2]:67
1993–1995 Barro and Lee's growth data set, titled "Data Set for a Panel of 138 Countries", is published.[41][42][43]
1995 ESA The European System of National and Regional Accounts (ESA) is published. This is a major revision of the original 1970 European System of Integrated Economic Accounts (ESA) (somewhat modified 1978). The new ESA is fully compatible with the 1993 SNA, but somewhat more tuned to the circumstances and data needs of the European Union.[26] Europe Europe
1996 The first volume of the Handbook of National Accounting by the United Nations Statistics Division is published. The volume is titled Use of the System of National Accounts in Economies in Transition. Several more volumes of the handbook would be published, with the most recent one, as of 2014, being on Financial Production, Flows and Stocks in the System of National Accounts.[44]
1996 WDI The first World Development Indicators is published.[45]:8 Prior to becoming a standalone publication, the World Development Indicators was published as an appendix to the World Development Report.[46][47]:180 (Note: A World Bank blog post from 2012 calls the WDI 2012 the 16th edition of the WDI, implying that the first edition is WDI 1997. The WDI 1996, if it exists, is difficult to locate because it was probably called just "WDI" without a year.)[48] Various
1996 December 4 The Boskin Commission submits its final report, titled Toward A More Accurate Measure Of The Cost Of Living. The Commission was appointed in 1995 by the United States Senate to study possible bias in the Consumer Price Index. The report concludes that the CPI overstated inflation by about 1.1 percentage points per year in 1996 and about 1.3 percentage points prior to 1996. These results are important because they influence estimates of budget deficit as well as intertemporal comparisons of real per capita income. United States United States
1997 March–April WDI The World Development Indicators 1997 is published.[49]
1998 March–April WDI The World Development Indicators 1998 is published.[50]
1999 March–April WDI The World Development Indicators 1999 is published.[51]
1999 May WDI Possibly the first version of the Little Data Book, "a pocket version of the World Development Indicators", is published.[52] Subsequently the Little Data Book would be published (almost?) annually along with the World Development Indicators.
1999 November PARIS21, the Partnership in Statistics for Development in the 21st Century consortium, is launched in response to the UN Economic and Social Council resolution on the goals of the UN Conference on Development. The consortium is a partnership of policymakers, analysts, and statisticians from all countries of the world, focusing on promoting high-quality statistics, making these data meaningful, and designing sound policies.
2000 March–April WDI The World Development Indicators 2000 is published.[53][54][55]
2001 April WDI The World Development Indicators 2001 is published.[56][57]
2002 April WDI The World Development Indicators 2002 is published.[58][59][60] Various
2002 October ICP/PWT The Penn World Table version 6.1 is released. This version "includes 168 countries and territories, for the period 1950-2000, and uses 1996 as the reference year."[61] A "PWT6" was planned for release, but due to a combination of error correction and the arrival of new data, it was never released, so the major version begins with "6.1" rather than "6.0".[62]
2003 Maddison The World Economy: Historical Statistics by Angus Maddison is published by the OECD Development Centre.
2003 April WDI The World Development Indicators 2003 is published.[63][64] Various
2004 WDI The World Development Indicators 2004 is published.[65][66]
2005 April WDI The World Development Indicators 2005 is published.[67] Various
2005 ICP/PWT ICP data is published for this year (not sure how much later, but by 2007), covering 146 countries (143 according to Coyle).[23][2]:67 China participates for the first time, and India participates after having skipped participation in 1993 (but it did participate in 1985). About 95% of the world's population is covered, the best coverage so far.[2]:67 The results would lead in 2007 to major downward revisions of GDP for many countries, including a 40% downward revision for China.[68][69][2]:68
2006 April 22 WDI The World Development Indicators 2006 is published.[70][71][72] Various
2007 April 15 WDI The World Development Indicators 2007 is released.[73][74][75] Various
2007 Li Keqiang, Party Secretary of Liaoning Province, who would later become the Chinese Premier, claims that Chinese GDP numbers are highly unreliable due to significant fabrication of data by regional governments. He suggests the use of proxies such as electricity consumption, rail cargo volume and loan volume instead.[76] This begins an era of significant scrutiny for Chinese GDP numbers. As of 2017, the dominant view is that Chinese GDP numbers are not significantly more unreliable than the GDP numbers of many other developing countries; though regional governments overstate numbers, the National Bureau of Statistics makes reasonable adjustments; some of its smoothing/approximation methods result in data that looks too smooth to be natural.[77][78] China China
2008 SNA A 2008 update to the United Nations System of National Accounts (SNA) is published.[11][79]
2008 April WDI The World Development Indicators 2008 is published.[80] Various
2009–2010 The Clio Infra project launches sometime around this period.[81] The project aims "to bring together the data that are available for analyzing the development of the world economy in the period since 1500".[82]
2009 Maddison The final update of Angus Maddison's original dataset on economic growth and development takes place.[83] Subsequent updates would take place as part of the Maddison Project.
2009 April 1 WDI The World Development Indicators 2009 is published.[84] Various
2009 August 26 ICP/PWT The Penn World Table Twitter account is created.[85]
2010 January 12 Data quality report A report by the European Commission is critical of the quality of economic data coming from Greece.[86] The report comes after a number of sudden changes in government economic estimates, such as a 2006 GDP estimate increase of 25%[87] and a 2009 revision of the deficit:GDP ratio from 3.7% to 12.5%.[86][87] In 2011, research published by Rauch et al. would shown that Greece's economic data deviated furthest from Benford's law, indicating that it was most likely to have been manipulated.[87][2]:14-16 Europe Greece
2010 March Maddison The Maddison Project launches.[88]
2010 December 20 The first Internet Archive snapshot of the website of the Centre for Global Economic History at Utrecht University is from this day.[89]
2010 April 20 WDI The World Development Indicators 2010 is released by the World Bank.[90] Various
2010 GDP rebasing Ghana's government revises its official GDP numbers upward by 60%. This leads to discussion among development economists and others about the reliability of GDP numbers, and is the impetus for Morten Jerven's work on the unreliabilty of GDP statistics in Africa.[91][92][93] Ghana Ghana
2011 April WDI The World Development Indicators 2011 is published.[94][95]
2011 ICP/PWT ICP data is published for this year (not sure how much later), covering 199 countries.[23]
2011 June 3 ICP/PWT The Penn World Table 7.0 is published.[96] PWT 7.0 would be the final version produced at the University of Pennsylvania. The release notes for PWT 7.0 state: "After 2012 PWT will be jointly maintained by Robert Feenstra at UC-Davis, and Marcel Timmer and Robert Inklaar at the University of Groningen. There will be two identical websites with the identifiers, PWT at Davis and PWT at Groningen."[97]
2012 WDI The World Bank Open Knowledge Repository launches.[98]
2012 April 19 WDI The World Development Indicators 2012 is released.[48][99][100][101]
2013 April 18 WDI The World Development Indicators 2013 is released.[102][103][104][105][106] Various
2013 June 26 ESA The European System of National and Regional Accounts (ESA) 2010 is published in the Official Journal. This is the first major update to the ESA since ESA 95 (1995). It would be implemented in September 2014.[107] Europe Europe
2013 July 2 ICP/PWT The Penn World Table version 8.0 is published.[108][109] This is the first version that is published out of the University of California, Davis and the University of Groningen.[110]
2013 Poor Numbers: How We Are Misled by African Development Statistics and What to Do about It by Morten Jerven is published.
2014 April GDP rebasing Nigeria's government changes the way it calculates its GDP, rebasing to use current prices and market structure, thus giving more weight to Nollywood and mobile phone services that have grown a lot in recent years. This results in an 89% increase in the estimate for the GDP. With the new estimate, Nigeria leapfrogs South Africa as the biggest economy of Africa.[2]:vii[111][112][113] Nigeria Nigeria
2014 April–May WDI The World Development Indicators 2014 is released. "Some of the changes for 2014 include new indicators for severe wasting, disaggregated by sex; national estimates for labor force participation; ratios of employment to population; and unemployment."[114][115][116][117]
2015 January–March GDP rebasing Starting with the first quarter of 2015, India changes the way it calculates GDP. The changes shift focus from production to market prices for consumption, and also use 2011/12 as the base year for prices.[118][119][120] See 2015 India GDP rebasing for more information. India India
2015 April 15 WDI The World Development Indicators 2015 is published. "Some of the new elements for 2015 include a two page MDG progress snapshot, which shows whether selected targets of the MDGs have been achieved; new indicators on Shared Prosperity, which shows that many countries have seen growth in income or consumption among the bottom 40 percent of the population in their welfare distribution; Statistical Capacity, which measures improvements in the strengths of national statistical systems; and Particulate Matter Concentrations which show that in many parts of the world, exposure to air pollution is increasing rapidly."[121][122][123][124]
2016 April 15 WDI The World Bank announces the release of the 2016 World Development Indicators on its blog. This edition includes 1,400 indicators for over 200 economies.[125] Various
2016 March 11 A government-commissioned independent review of United Kingdom economic statistics, chaired by economist Charlie Bean, publishes its final report.[126][7] The report identifies three broad types of problem with the use of GDP, as currently measured, to estimate economic levels and growth: complexity, productivity, and sustainability.[127] United Kingdom United Kingdom
2016 June 9 PWT The Penn World Table 9.0 is released.[128][129]
2017 April WDI The World Development Indicators 2017 is published.[130]

Meta information on the timeline

How the timeline was built

The initial version of the timeline was written by Issa Rice and Vipul Naik.

Funding information for this timeline is available.

What the timeline is still missing

  • Some stuff on Chinese GDP figures and official processes and question marks around it
  • United States Census and United States Economic Census
  • Japan statistics and censuses starting 1721 (?)
  • some historical details of ICP at [1]
  • """Basic work on the need for purchasing power parities as currency conversion factors began with the seminal work of Gilbert and Kravis for the OEEC in 1954 and the subsequent work of Gilbert and Associates (1958). These two studies demonstrate the fact that there can be a considerable gap between the official exchange rates and purchasing power parities, and therefore the need for research on the computation of PPPs for different currencies. This has led to the eventual establishment of the International Comparison Project (ICP) at the University of Pennsylvania by Kravis, Heston, Summers and Kenessey. The work by Kravis et al. (1975 and 1978) was instrumental in establishing the procedures and guidelines for undertaking international comparisons. The report of Kravis, Heston and Summers (1982) on Phase III of the ICP, may be considered as a definitive account of the standard procedures of the ICP. The ICP had been upgraded subsequently from the status of a project to a program due to the increased coverage of more than 65 countries in Phase IV. The publication of the Handbook of the International Comparison Programme (UN, 1992), is another major source for the procedures recommended for use in international comparisons. There are several OECD publications, all with the title "Purchasing Power Parities and Real Expenditures" (OECD 1987, 1996 and 1999), that deal with procedures underlying PPP computation. Similar publications are regularly published by Eurostat.""" [2]
  • Add some events of the period when exchange rates were used directly: "Before PPPs became available, exchange rates were used to make international comparisons of GDP." [3] (p4) It would be good to document what sort of comparison programs/tables were produced before PPPs took off.
  • SUSENAS (Survey Sosial Ekonomi Nasional i.e. National Social Economy Survey; Indonesia): cited in [4] (p28); [5] [6]

From Coyle:

  • Wesley J. Mitchell's statement about how GDP was critical to financing and justifying war efforts
  • May 1946: First set of recommendations for UN statistics, a a meeting of the Committee of Statistical Experts at Hunter College in New York.
  • Reinforce references for Marshall Plan using GDP
  • Jan Tinbergen's work on GDP in the context of the Netherlands
  • PARIS21
  • 1996 Boskin Commission

When were specific concepts introduced

  • Purchasing power parity (PPP)
  • International Geary-Khamis dollar
  • Chain-weighting
  • Laspeyres (?)
  • Penn effect and its cousins

Timeline update strategy

See also

External links

References

  1. 1.00 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 1.11 1.12 Lepenies, Philip. The Power of a Single Number: A Political History of GDP. Retrieved November 15, 2017. 
  2. 2.00 2.01 2.02 2.03 2.04 2.05 2.06 2.07 2.08 2.09 2.10 2.11 2.12 2.13 2.14 2.15 2.16 2.17 2.18 2.19 2.20 Coyle, Diane. "GDP: A Brief but Affectionate History". Retrieved October 17, 2017. 
  3. "Historical Statistics of Japan". stat.go.jp. Retrieved 16 November 2017. 
  4. 4.0 4.1 4.2 4.3 4.4 4.5 4.6 Tily, Geoff (June 1, 2009). "John Maynard Keynes and the Development of National Accounts in Britan, 1895–1941". Review of Income and Wealth. 55 (2). Retrieved November 4, 2017. 
  5. "Statistics of Income: A Collection of Historical Articles" (PDF). Internal Revenue Service. Retrieved October 15, 2017. 
  6. "SOI Tax Stats - Purpose and Function of Statistics of Income (SOI) Program". Internal Revenue Service. Retrieved October 15, 2017. 
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