Article · Economy
Economic miracles: who got rich fastest
Since 1950, 9 economies with at least 1 million people have raised their income per person by at least 6% a year for 25 years in a row — starting from a new high and never losing the gains: Botswana, South Korea, Oman, Taiwan, Mongolia, Singapore, China, Japan and Hong Kong. The fastest, Botswana, multiplied it ×8.6 from 1965 to 1990, from $612 to $5,267 a person.
Fastest lasting 25 years: Botswana, 1965–1990
×8.6
9.0% a year: from $612 to $5,267 a person, in 2011 dollars
Economies that pass the rule
9
at least 6% a year for 25 years, from a new high, gains kept
The typical miracle: years to ×4
21 years
the fastest, Oman: 10 years; the US needed 34 years to double once from 1950
Biggest catch-up with the US: Singapore
19% → 137%
income per person as a share of the US level, 1966 and 2022
Most ground lost: Venezuela
56% → 9%
share of US income per person, 1950 and 2022; down 72% from its 2012 peak
What counts as a miracle: one rule, three tests
“Economic miracle” is a phrase, not a definition, so this page uses a rule and lets the data pick. For every economy with at least 1 million people today, take every stretch of 25 years from 1950 on, and keep it only if it passes three tests:
- Speed. GDP per person grew at least 6% a year on average — ×4.3 over 25 years.
- A new high. In its first year income per person was the highest so far — not a recovery of ground lost to a war or a slump.
- Staying power. Income per person never again fell below the level reached at the end.
Each economy is measured by its fastest stretch that passes the second and third tests. 9 clear the speed bar as well. Next in line, just below it: Laos (5.7%), Bangladesh (5.5%) and Eswatini (5.4%).
A miracle: 6% a year or moreFast, below the bar
The ranking as a table
| # | Economy | 25 years | A year | Income grew | GDP per person |
|---|---|---|---|---|---|
| 1 |  Botswana miracle | 1965–1990 | 9.0% | ×8.6 | $612 → $5,267 |
| 2 |  South Korea miracle | 1967–1992 | 8.1% | ×7 | $2,232 → $15,712 |
| 3 |  Oman miracle | 1959–1984 | 7.9% | ×6.6 | $1,435 → $9,526 |
| 4 | Taiwan miracle | 1962–1987 | 7.4% | ×5.9 | $2,326 → $13,705 |
| 5 |  Mongolia miracle | 1996–2021 | 7.2% | ×5.7 | $2,272 → $12,992 |
| 6 |  Singapore miracle | 1966–1991 | 7.0% | ×5.5 | $4,317 → $23,637 |
| 7 |  China miracle | 1992–2017 | 6.3% | ×4.7 | $3,228 → $15,030 |
| 8 |  Japan miracle | 1957–1982 | 6.2% | ×4.5 | $4,999 → $22,440 |
| 9 |  Hong Kong miracle | 1961–1986 | 6.1% | ×4.4 | $5,169 → $22,823 |
| 10 |  Laos | 1993–2018 | 5.7% | ×4 | $1,623 → $6,455 |
| 11 |  Bangladesh | 1997–2022 | 5.5% | ×3.8 | $1,292 → $4,926 |
| 12 |  Eswatini | 1961–1986 | 5.4% | ×3.7 | $861 → $3,210 |
| 13 |  Vietnam | 1993–2018 | 5.3% | ×3.6 | $1,895 → $6,842 |
| 14 |  Thailand | 1968–1993 | 5.3% | ×3.6 | $2,488 → $8,964 |
| 15 |  Malaysia | 1970–1995 | 5.2% | ×3.5 | $3,314 → $11,725 |
| 16 |  Ireland | 1979–2004 | 5.2% | ×3.5 | $13,335 → $47,029 |
| 17 |  Bahrain | 1995–2020 | 5.1% | ×3.4 | $10,695 → $36,890 |
| 18 |  Dominican Republic | 1996–2021 | 4.9% | ×3.3 | $5,199 → $17,047 |
| 19 |  Portugal | 1955–1980 | 4.8% | ×3.3 | $3,945 → $12,822 |
| 20 |  Puerto Rico | 1950–1975 | 4.8% | ×3.2 | $3,416 → $11,073 |
Year 0: the take-off
Line the miracles up at the first year of their fastest stretch and the paths look alike: a steep climb for two or three decades, and for those that came close to the rich world, slower growth after. The band shows where the US stood between 1950 and 2022.
Catching up with the US
The same economies as a share of US income per person, every year since 1950. Singapore went from 19% of the US level in 1966 to 137% in 2022. By 2022, Singapore had passed the US.
Share of US GDP per personThe 25 years measured
×2, ×4, ×8: how many years it took
From each take-off, the years until income per person had doubled, quadrupled and so on. The typical miracle reached ×4 in 21 years; Oman in 10 years. In the 34 years the US needed to double its income per person once (1950–1984), Botswana's grew ×8. ×8 took Botswana (24 years), South Korea (28 years), Oman (33 years), Taiwan (31 years), Singapore (31 years) and Hong Kong (46 years). For scale: the US grew ×3.8 from 1950 to 2022 — it has not doubled twice.
to ×2to ×4to ×8to ×16
Years to ×2, ×4, ×8, ×16 as a table
| Economy | From | ×2 | ×4 | ×8 | ×16 |
|---|---|---|---|---|---|
| Botswana | 1965 | 71972 | 161981 | 241989 | 402005 |
| South Korea | 1967 | 91976 | 191986 | 281995 | 492016 |
| Oman | 1959 | 91968 | 101969 | 331992 | 412000 |
| Taiwan | 1962 | 101972 | 211983 | 311993 | 482010 |
| Mongolia | 1996 | 92005 | 152011 | — | — |
| Singapore | 1966 | 71973 | 211987 | 311997 | 502016 |
| China | 1992 | 132005 | 232015 | — | — |
| Japan | 1957 | 91966 | 211978 | — | — |
| Hong Kong | 1961 | 111972 | 231984 | 462007 | — |
| United States | 1950 | 341984 | — | — | — |
| World | 1950 | 261976 | 612011 | — | — |
Years from the start year; the year reached in small type. The world's years are read off a straight line (in logarithms) between the database's years.
Then and now
Each miracle at take-off and in 2022: income per person in 2011 dollars, and as a share of the US level.
Botswana×26.71965$6123% of the US
2022$16,35228% of the US
Diamonds found in 1967, a year after independence
2025: $20,698 at today's prices (World Bank, PPP)
South Korea×18.51967$2,23210% of the US
2022$41,32171% of the US
Land reform, exports, high investment
2025: $63,125 at today's prices (World Bank, PPP)
Oman×33.41959$1,4358% of the US
2022$47,98982% of the US
Oil exports from 1967
2025: $42,295 at today's prices (World Bank, PPP)
Taiwan×22.8
1962$2,32612% of the US
2022$53,14391% of the US
Land reform, exports, high investment
Mongolia×5.91996$2,2726% of the US
2022$13,44323% of the US
Mining: copper, coal, gold
2025: $20,798 at today's prices (World Bank, PPP)
Singapore×18.61966$4,31719% of the US
2022$80,320137% of the US
A trading port; exports and foreign investment
2025: $163,354 at today's prices (World Bank, PPP)
China×61992$3,2289% of the US
2022$19,23833% of the US
Reforms from 1978; exports, high investment
2025: $29,333 at today's prices (World Bank, PPP)
Japan×7.71957$4,99929% of the US
2022$38,26965% of the US
Exports, high investment
2025: $55,422 at today's prices (World Bank, PPP)
Hong Kong×9.31961$5,16928% of the US
2022$48,28983% of the US
A trading port; manufacturing, then finance
2025: $80,423 at today's prices (World Bank, PPP)
Bars: share of US income per person; “+” means above the US level. The context lines are facts of history, not the explanation. The World Bank figures are in current international dollars of 2025, a different unit from the Maddison dollars on the rest of each card.
Fast, but left out
Faster 25-year stretches exist: 17 economies had one at 6% a year or more that the rule leaves out. The fastest of all, Equatorial Guinea in 1984–2009, averaged 12.6% a year. Of the 12 below, 12 started from below an earlier peak (a recovery) and 9 later fell back below the level they had reached; 9 are oil or gas exporters.
| Economy | Fastest 25 years | A year | Why it is left out |
|---|---|---|---|
 Equatorial GuineaOil exporter | 1984–2009 | 12.6% | under 1 million people (889K in 2022); a recovery: $2,437 in 1984, below $3,668 in 1977; gains lost: $47,161 in 2009, $22,538 in 2021 |
 LibyaOil exporter | 1954–1979 | 11.0% | a recovery: $662 in 1954, below $697 in 1952; gains lost: $9,086 in 1979, $4,465 in 1987 |
 QatarOil exporter | 1990–2015 | 11.0% | a recovery: $11,705 in 1990, below $68,407 in 1973; gains lost: $159,800 in 2015, $143,119 in 2020 |
 KuwaitOil exporter | 1991–2016 | 10.7% | a recovery: $6,311 in 1991, below $52,920 in 1954; gains lost: $79,289 in 2016, $66,366 in 2020 |
 IraqOil exporter | 1991–2016 | 9.3% | a recovery: $1,519 in 1991, below $10,769 in 1979; gains lost: $14,174 in 2016, $11,717 in 2020 |
 AngolaOil exporter | 1986–2011 | 8.2% | a recovery: $1,106 in 1986, below $2,852 in 1973; gains lost: $8,016 in 2011, $6,119 in 2022 |
 Montenegro | 1994–2019 | 7.9% | under 1 million people (610K in 2022); a recovery: $3,074 in 1994, below $8,021 in 1986; gains lost: $20,449 in 2019, $17,356 in 2020 |
 TurkmenistanGas exporter | 1997–2022 | 7.5% | a recovery: $2,856 in 1997, below $7,693 in 1973 |
| BahrainOil exporter | 1990–2015 | 7.3% | a recovery: $6,542 in 1990, below $7,291 in 1974; gains lost: $38,370 in 2015, $36,890 in 2020 |
 AzerbaijanOil exporter | 1996–2021 | 7.1% | a recovery: $3,074 in 1996, below $9,328 in 1988 |
 Lebanon | 1989–2014 | 7.0% | a recovery: $2,488 in 1989, below $8,397 in 1973; gains lost: $13,586 in 2014, $10,183 in 2020 |
 Malta | 1964–1989 | 7.0% | under 1 million people (530K in 2022); a recovery: $2,343 in 1964, below $2,383 in 1960 |
The other way: growth that stalled
The counterpoint, picked by a rule as well: of the 20 economies with at least a million people and at least 30% of US income per person in 1950, these lost the most ground by 2022. Venezuela had 56% of the US level in 1950 and 9% in 2022; its income per person peaked at $18,486 in 2012 and then fell 72%, to $5,267. That is less than in 1950 ($8,462).
Next on the list: Argentina, from 52% to 31% (income per person still grew ×2.3), New Zealand, from 88% to 65% (income per person still grew ×2.8) and Uruguay, from 46% to 35% (income per person still grew ×2.9). Falling behind is not the same as getting poorer — the US itself grew ×3.8 over the same years.
VenezuelaArgentinaNew ZealandUruguay
Questions people ask
Which country had the fastest economic growth?
By the rule on this page, Botswana: 9.0% a year from 1965 to 1990, ×8.6. Without the tests, the fastest 25 years belong to Equatorial Guinea (1984–2009, 12.6% a year) — a stretch the rule leaves out, as the table above shows.
What was the German economic miracle?
Germany's GDP per person grew 4.6% a year from 1950 to 1975 (×3.1). But in 1950 it was still below its 1944 level ($6,186 against $9,698) and first got back above it in 1956, so by this page's rule those years begin as a recovery. Its fastest stretch from a new high, 1957–1982, averaged 3.1% a year.
Is China an economic miracle?
By this rule, yes: China grew 6.3% a year from 1992 to 2017 (×4.7) and ranks 7th on the list. Its income per person went from 9% of the US level to 33% in 2022.
What was the “Miracle on the Han River”?
The name given to South Korea's growth. In this page's numbers, South Korea grew 8.1% a year from 1967 to 1992 (×7) and went from 10% of US income per person to 71% in 2022.
How far did Argentina fall behind?
In 1950 Argentina had 52% of US income per person; in 2022, 31%. Its income per person still grew ×2.3 over those years — the US grew ×3.8.
Go deeper
How the numbers are calculated
- Source: Maddison Project Database, version 2023, by Jutta Bolt and Jan Luiten van Zanden (Groningen Growth and Development Centre, University of Groningen), licensed under CC BY 4.0. Citation: MPD version 2023: Bolt, Jutta and Jan Luiten van Zanden (2024). Maddison style estimates of the evolution of the world economy: A new 2023 update. Journal of Economic Surveys, 1–41, doi:10.1111/joes.12618. The rule, rankings, multiples and shares are BigCapital's calculations.
- The rule: economies with at least 1 million people in 2022; every run of 25 years from 1950 with a figure for every year; growth a year compounded. “A new high”: GDP per person in the first year at least as high as in any earlier year of the database. “Gains kept”: no later year below the last year of the run. Each economy's fastest run that passes both is ranked; 6% a year or more counts as a miracle.
- GDP per person in 2011 international dollars, the database's real and comparable unit; “share of the US level” divides by the US figure of the same year.
- The USSR, Yugoslavia and Czechoslovakia count as single economies for runs that start before they split up, their successor states for runs that start later. Germany is the database's Germany in today's borders, also before 1990.
- Growth that stalled: economies with at least a million people and at least 30% of US GDP per person in 1950, ranked by how much of that share they kept in 2022.
- The cards' figure at today's prices is the World Bank's GDP per person at purchasing power parity (NY.GDP.PCAP.PP.CD, current international dollars; CC BY 4.0, Source: World Bank) — a different unit from the rest of the page.
- The short context lines are facts of history, not explanations: these numbers alone cannot say why an economy grew.
- Economic history, not a forecast and not investment advice.
Original sources of the estimates
The Maddison Project asks that all original papers be cited when its data is shown in charts. Here they are, as the database lists them: first the sources added since 2013, then Angus Maddison's own (2010).
Sources added since 2013
- GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics
- Population sources
- 1990 onward Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics
- Argentina — 1800 - 1870: Prados de la Escosura, L. (2009). “Lost Decades? Economic Performance in Post-Independence Latin America,” Journal of Latin America Studies 41: 279–307 (updated data); 1870 - 1900: Bertola, L and Ocampo, J.A. (2012) The Economic Development of Latin America since Independence. Oxford, Oxford U.P
- Belgium — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 1500- 1846: Buyst, E. (2011), “Towards Estimates of Long Term Growth in the Southern Low Countries, ca.1500-1846”, Results presented at the Conference on Quantifying Long Run Economic Development, Venice, 22-24 March, 2011
- Bulgaria — 1892-1945: Ivanov, M. (2006). “Bulgarian National Income between 1892 and 1924,” Bulgarian National Discussion Papers DP/54/2006
- Bosnia and Herzegovina — 1952-2008: Milanovic (2011). Estimates provided to the Maddison-Project
- Bolivia (Plurinational State of) — 1846-1950: Herranz-Loncán, A. and Peres-Cajías (2016). “Bolivian GDP per capita since the mid-nineteenth century” Cliometrica 10: 99-128
- Brazil — 1800 - 1870: Prados de la Escosura, L. (2009). “Lost Decades? Economic Performance in Post-Independence Latin America,” Journal of Latin America Studies 41: 279–307 (updated data); 1850–1899: Barro, R.J. and J.F. Ursua, (2008). “Macroeconomic Crises since 1870” Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 39(1 (Spring), pages 255-350
- Switzerland — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 1850-2011: Stohr, Christian (2016), Trading Gains: new estimates of Swiss GDP, 1851-2008. Economic History Working Papers, 245/2016. London School of Economics and Political Science, Economic History Department, London, UK
- Chile — 1810–2004: Díaz, J.B. Lüders, R. and Wagner, G. (2007) Economia Chilena 1810 - 2000, Producto total y sectorial una nueva mirada, Pontificia universidad Catolica de Chile, Insituto de Economia, Documeno de Trabajo no. 315
- China — 1000-1661: Broadberry, S.N., Guan, Hanhui and David Daokui Li (2018), “China, Europe and the Great Divergence: a Study in Historical National Accounting, 980-1850”, Journal of Economic History, 78, 4, 955-1000; 1661–1933: Broadberry, S.N., Guan, Hanhui and David Daokui Li (2018), “China, Europe and the Great Divergence: a Study in Historical National Accounting, 980-1850”, Journal of Economic History, 78, 4, 955-1000; 1661–1933: Xu, Y. Z. Shi, B. van Leeuwen, Y Ni, Z Zhang, and Y Ma, (2016) 'Chinese National Income, ca. 1661-1933', Australian Economic History Review 57(3), 368–393; 1952–2008: Wu, Harry X. (2014), “China’s growth and productivity performance debate revisited – Accounting for China’s sources of growth with a new data set” The Conference Board Economics Program Working Paper Series EWP#14-01.
- Colombia — 1800 - 1870: Prados de la Escosura, L. (2009). “Lost Decades? Economic Performance in Post-Independence Latin America,” Journal of Latin America Studies 41: 279–307 (updated data); 1870 - 1923: Bertola, L and Ocampo, J.A. (2012) The Economic Development of Latin America since Independence. Oxford, Oxford U.P.
- Czechoslovakia — 1993 -: Based on GDP and population data for their successor states
- Cuba — 1690–1895: Santamaria Garcia, A. (2005). Las Cuentas nacionales de Cuba, 1960 - 2005', mimeo; 1902–1958: Ward, M. and Devereux, J. (2012), “The Road Not Taken: Pre-Revolutionary Cuban Living Standards in Comparative Perspective” Journal of Economic History, 72(1): 104–132
- Germany — 1500-1850: Pfister, U. (2022). Economic Growth in Germany, 1500–1850. The Journal of Economic History, 82(4), 1071–1107
- Ecuador — 1833-1938: Prados de la Escosura, L. (2009). “Lost Decades? Economic Performance in Post-Independence Latin America,” Journal of Latin America Studies 41: 279–307. (updated data). We use the growth rate between 1933 and 1938 from Prados de la Escosura (2009) and link that to the 1939 level of Maddison’s original estimates.
- Egypt — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 700 – 1500: Pamuk, Ş. and M. Shatzmiller (2011). “Real Wages and GDP per capita in the Medieval Islamic Middle East in Comparative Perspective, 700-1500”, paper presented at the 9th Conference of the European Historical Economics Society, Dublin, September 2-3, 2011.; 1820, 1870, 1913, 1950: Pamuk, S. (2006), Estimating Economic Growth in the Middle East since 1820, The Journal of Economic History, vol 66, no. 3, pp. 809 - 828
- Spain — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 1270-1850: Álvarez-Nogal, C. and L. Prados de la Escosura (2013). "The Rise and Fall of Spain (1270-1850)," Economic History Review, 66, 1, 1-37, using their annual benchmarks; 1850–2011: Prados de la Escosura, L. (2017), Spanish Economic Growth, 1850-2015 (London: Palgrave Macmillan)
- Finland — 1600–1860: Eloranta, J., Voutilainen, M. and Nummela, I. (2016). “Estimating Finnish Economic Growth Before 1860” mimeo.
- France — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 1276–1800: Ridolfi, L., & Nuvolari, A. (2021). L’histoire immobile? A reappraisal of French economic growth using the demand-side approach, 1280–1850. European Review of Economic History, 25(3), 405–428
- United Kingdom — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 1252–1700 (England): Broadberry, S.N., B. Campbell, A. Klein, M. Overton and B. van Leeuwen (2015), British Economic Growth 1270-1870 Cambridge: Cambridge University Press.; 1700–1870: Broadberry, S.N., B. Campbell, A. Klein, M. Overton and B. van Leeuwen (2015), British Economic Growth 1270-1870 Cambridge: Cambridge University Press.
- Ghana — 1885-1950: Broadberry, S., & Gardner, L. (2022). Economic growth in Sub-Saharan Africa, 1885–2008: Evidence from eight countries. Explorations in Economic History, 83, 101424.
- Greece — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 1833-1913: Kostelenos G., S. Petmezas, D. Vasiliou, E. Kounaris and M. Sfakianakis, (2007), "Gross Domestic Product 1830-1939", Sources of Economic History of Modern Greece: Quantitative data and statistical series 1830-1939, Historical Archives of the National Bank of Greece, Athens.
- Croatia — 1952-2008: Milanovic (2011). Estimates provided to the Maddison-Project
- Indonesia — 1815 – 1880 (Java): Van Zanden (2012). “Economic Growth in Java 1815-1939: The Reconstruction of the Historical National Accounts of a Colonial Economy”, Maddison-Project Working Paper WP-3.; 1880-2008: Van der Eng, P. (2010). The Sources of Long-Term Economic Growth in Indonesia, 1880-2008”, Explorations in Economic History, 47: 294-309
- India — 1600–1870: Broadberry, S.N., Custodis, J. and Gupta, B. (2015), “India and the great divergence: an Anglo-Indian comparison of GDP per capita, 1600–1871” Explorations in Economic History, 55: 58-75.
- Iran (Islamic Republic of) — 1820, 1870, 1913, 1950: Pamuk, S. (2006), Estimating Economic Growth in the Middle East since 1820, The Journal of Economic History, vol 66, no. 3, pp. 809 - 828
- Iraq — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 700 – 1500: Pamuk, Ş. and M. Shatzmiller (2011). “Real Wages and GDP per capita in the Medieval Islamic Middle East in Comparative Perspective, 700-1500”, paper presented at the 9th Conference of the European Historical Economics Society, Dublin, September 2-3, 2011.; 1820, 1870, 1913, 1950: Pamuk, S. (2006), Estimating Economic Growth in the Middle East since 1820, The Journal of Economic History, vol 66, no. 3, pp. 809 - 828
- Iceland — 1870-1945: Jonsson, G. (1998). The gross domestic product of Iceland, 1870-1945. Nordiska Historiska Nasjonalregnkaper, Artikkelsamling from Workshop IV, Solstrand 13-15 NOvember 1998.
- Israel — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91
- Italy — 1451-1861: Chilosi, D., & Ciccarelli, C. (2023). Italy in the Great Divergence: What Can We Learn from Engel’s Law (SSRN Scholarly Paper 4514091).; 1861-1871 (North Italy): Malanima, P. (2010), “The long decline of a leading economy: GDP in central and northern Italy, 1300–1913” European Review of Economic History 15 (2): 169–219.; 1871-1990: Baffigi, A. (2011).”Italian National Accounts, 1861-2011”, Banca d’Italia Economic History Working Papers 18.
- Jamaica — 1850 - 1938: Prados de la Escosura, L. (2009). “Lost Decades? Economic Performance in Post-Independence Latin America,” Journal of Latin America Studies 41: 279–307 (updated data)
- Jordan — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 1820, 1870, 1913, 1950: Pamuk, S. (2006), Estimating Economic Growth in the Middle East since 1820, The Journal of Economic History, vol 66, no. 3, pp. 809 - 828
- Japan — 724-1874: Bassino, Jean-Pascal & Broadberry, Stephen & Fukao, Kyoji & Gupta, Bishnupriya & Takashima, Masanori, (2018). "Japan and the Great Divergence, 730-1874," CEI Working Paper Series 2018-13, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University; 1874-1940: Fukao, K., Bassino, J.-P., Makino, T., Paprzycki, R., Settsu, T., Takashima, M., and Tokui, J. (2015) Regional Inequality and Industrial Structure in Japan: 1874-2008, Tokyo: Maruzen Publishing.
- Kenya — 1904-1950: Broadberry, S., & Gardner, L. (2022). Economic growth in Sub-Saharan Africa, 1885–2008: Evidence from eight countries. Explorations in Economic History, 83, 101424.
- Republic of Korea — 1911-1990: Cha, M.S., Kim, N.N., Park, K.-J., Park, Y. (Eds.) (2020), Historical Statistics of Korea. Studies in Economic History, New York: Springer Publishing
- Lebanon — 1820, 1870, 1913, 1950: Pamuk, S. (2006), Estimating Economic Growth in the Middle East since 1820, The Journal of Economic History, vol 66, no. 3, pp. 809 - 828
- Liberia — 1845-1950: Gardner, L. (2022). Sovereignty without Power: Liberia in the Age of Empires, 1822-1980. Cambridge University Press.
- Mexico — 1550–1812: Arroyo Abad, L. and J.L. van Zanden (2016), “Growth under Extractive Institutions? Latin American Per Capita GDP in Colonial Times” Journal of Economic History 76(4): 1182–1215.; 1812–1870: Prados de la Escosura, L., (2009), ‘Lost decades? Economic performance in post-independence Latin America’, Journal of Latin America Studies, 41, pp. 279–307. (updated data); 1870-1895: Bértola, L., & Ocampo, J. A. (2012). The Economic Development of Latin America since Independence. Oxford University Press, Table A.2; 1895–2003: Barro, R.J. and J.F. Ursua, (2008). “Macroeconomic Crises since 1870” Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 39(1 (Spring), pages 255-350
- TFYR of Macedonia — 1952-2008: Milanovic (2011). Estimates provided to the Maddison-Project
- Montenegro — 1952-2008: Milanovic (2011). Estimates provided to the Maddison-Project
- Malawi — 1904-1950: Broadberry, S., & Gardner, L. (2022). Economic growth in Sub-Saharan Africa, 1885–2008: Evidence from eight countries. Explorations in Economic History, 83, 101424.
- Malaysia — 1900-1939: Nazrin Shah, S. (2017). Charting the Economy: Early 20th Century Malaya and Contemporary Malaysian Contrasts, Oxford University Press
- Nigeria — 1885-1950: Broadberry, S., & Gardner, L. (2022). Economic growth in Sub-Saharan Africa, 1885–2008: Evidence from eight countries. Explorations in Economic History, 83, 101424.
- Netherlands — 1348–1807 (Holland): Van Zanden, J. L. and van Leeuwen, B. (2012), ‘Persistent but not consistent: the growth of national income in Holland 1347–1807’, Explorations in Economic History, 49 (2012), pp. 119–30.; 1807-1913: Smits, J.P., E. Horlings and J.L. van Zanden (2000). The Measurement of Gross National Product and its Components 1800-1913 (Groningen Growth and Development Centre Monograph series no 5).
- Norway — 1820–1930: Grytten, O.H. (2015). Norwegian gross domestic product by industry 1830 - 1930, Norges Bank Working paper 19/2015. Population from Maddison (2006)
- Panama — 1906–1945: De Corso, G. (2013). El crecimiento economico de Venuzuela, Desde la Oligarquia Conservadora Hasta La Revolucion Bolivariana: 1830-2012. Uno Vision cuantitativa *: Venezuelan Economic Growth From The Conservative Oligarchy To The Bolivarian Revolution (1830-2012), Revista De Historia Económica / Journal of Iberian and Latin American Economic History, 31(3), 321-357. doi:10.1017/S0212610913000190
- Peru — 1600–1812: Arroyo Abad, L. and J.L. van Zanden (2016), “Growth under Extractive Institutions? Latin American Per Capita GDP in Colonial Times” Journal of Economic History 76(4): 1182–1215.; 1812–1870: Seminario, B. (2015). El Desarrallo de la Economía Peruana en la Era Moderna, Universidad de Pacifico, Lima; 1870-1901: Bertola, L and Ocampo, J.A. (2012) The Economic Development of Latin America since Independence. Oxford, Oxford U.P, Table A2
- Poland — 1409–1913: Malinowski, M. and Van Zanden (2017), “National income and its distribution in preindustrial Poland in a global perspective” Cliometrica, Volume 11, Issue 3, pp 375–40
- D.P.R. of Korea — 1911-1940: Cha, M.S., Kim, N.N., Park, K.-J., Park, Y. (Eds.) (2020), Historical Statistics of Korea. Studies in Economic History, New York: Springer Publishing.; 1990-2011: Cha, M.S., Kim, N.N., Park, K.-J., Park, Y. (Eds.) (2020), Historical Statistics of Korea. Studies in Economic History, New York: Springer Publishing.
- Portugal — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 1530–1850: Palma, N., & Reis, J. (2019). From Convergence to Divergence: Portuguese Economic Growth, 1527–1850. The Journal of Economic History, 79(2), 477-506. doi:10.1017/S0022050719000056
- Romania — 1862–1995: Axenciuc, V. (2012). Produsul intern brut al Romaniei, Vol. 1, Institutl de Economie Nationala, Bucarest; 1915-1919 & 1949: Voinea, L., Cojocaru, A., Costache, B., Grigoraș, V., Lovin, H., Neagu, C., Orțan, D., & Tănase, A. (2019). One Hundred Years of Honesty: Recovering the Lost Memory of the Romanian Economy 1918-2018.
- Russia — 1860-1885: Kuboniwa, M. (2019). Estimating GDP and Foreign Rents of the Oil and Gas Sector in the Soviet Union and Present-Day Russia. In M. Kuboniwa, Y. Nakamura, K. Kumo, & Y. Shida (Eds.), Russian Economic Development over Three Centuries: New Data and Inferences (pp. 421–438). Springer.
- Saudi Arabia — 1820, 1870, 1913, 1950: Pamuk, S. (2006), Estimating Economic Growth in the Middle East since 1820, The Journal of Economic History, vol 66, no. 3, pp. 809 - 828
- Singapore — 1900–1959: Sugimoto, I. (2011), Economic growth of Singapore in the twentieth century: historical GDP estimates and empirical investigations, Economic Growth Centre Research Monograph ser., 2, http://www.worldscibooks.com/economics/7858.html (accessed on 30 Jan. 2013).
- Serbia — 1952-2008: Milanovic (2011). Estimates provided to the Maddison-Project
- Former USSR — 1860-1885: Kuboniwa, M. (2019). Estimating GDP and Foreign Rents of the Oil and Gas Sector in the Soviet Union and Present-Day Russia. In M. Kuboniwa, Y. Nakamura, K. Kumo, & Y. Shida (Eds.), Russian Economic Development over Three Centuries: New Data and Inferences (pp. 421–438). Springer.; 1885-1913: Gregory, P. R. (1982). Russian National Income, 1885–1913, Cambridge: Cambridge University Press; 1913-1928: Markevich, A. and M. Harrison (2011). “Great War, Civil War, and Recovery: Russia's National Income, 1913 to 1928”, The Journal of Economic History, Volume 71 (3): 672 – 703, table 6.; 1991 -: Based on GDP and population data for their successor states
- Slovenia — 1952-2008: Milanovic (2011). Estimates provided to the Maddison-Project
- Sweden — 1300–1560: Krantz, O. (2017) “Swedish GDP 1300-1560 A Tentative Estimate” Lund Papers in Economic History: General Issues; No. 152.; 1560–1950: Schön, L., and O. Krantz (2015) “New Swedish Historical National Accounts since the 16th Century in Constant and Current Prices” Lund Papers in Economic History no. 140
- Syrian Arab Republic — 1820, 1870, 1913, 1950: Pamuk, S. (2006), Estimating Economic Growth in the Middle East since 1820, The Journal of Economic History, vol 66, no. 3, pp. 809 - 828
- Turkey — 1: Scheidel, W. and Friesen, S. J., ‘The size of the economy and the distribution of income in the Roman Empire’, Journal of Roman Studies, 99 (2009), pp. 61–91; 700 - 1820: Pamuk, Ş. and M. Shatzmiller (2011). “Real Wages and GDP per capita in the Medieval Islamic Middle East in Comparative Perspective, 700-1500”, paper presented at the 9th Conference of the European Historical Economics Society, Dublin, September 2-3, 2011; Milanovic, B. (2006), “An estimate of average income and inequality in Byzantium around year 1000,” Review of Income and Wealth 52 (3).; 1500-1820: Pamuk, S. (2009). “Estimating GDP per capita for the Ottoman Empire in a European Comparative Framework, 1500-1820”, paper presented at the XVth World Economic History Congress, August 2009, Utrecht
- Taiwan, Province of China — 1820 - 1940: Fukao, K., D. Ma and T. Yuan (2007). Real GDP in Pre-War East Asia: A 1934-36 Benchmark Purchasing Power Parity Comparison with the U.S. Review of Income and Wealth, 53 (3): 503 - 537. Trend from original Maddison estimates applied to benchmark for 1934/36
- Uganda — 1906-1950: Broadberry, S., & Gardner, L. (2022). Economic growth in Sub-Saharan Africa, 1885–2008: Evidence from eight countries. Explorations in Economic History, 83, 101424.
- Uruguay — 1800-1870: Prados de la Escosura, L. (2009). “Lost Decades? Economic Performance in Post-Independence Latin America,” Journal of Latin America Studies 41: 279–307. (updated data); 1870–2014: Bèrtola, L. (2016). El PIB per Capita de Uruguay 1870 - 2016: una reconstruccion. PHES working paper No 48
- United States — 1650 - 1790: McCusker, John J., ‘Colonial Statistics’, Historical Statistics of the United States: Earliest Time to the Present, in S. B. Carter, S. S. Gartner, M. R. Haineset al. New York, Cambridge University Press. V-671.; 1790 - 1870: Sutch, R. (2006). National Income and Product. Historical Statistics of the United States: Earliest Time to the Present, in S. B. Carter, S. S. Gartner, M. R. Haineset al. New York, Cambridge University Press III-23-25.; 1800-1830: Prados de la Escosura, L. (2009). “Lost Decades? Economic Performance in Post-Independence Latin America,” Journal of Latin America Studies 41: 279–307. (updated data)
- Venezuela (Bolivarian Republic of) — 1830–2012: De Corso, G. (2013). El crecimiento economico de Venuzuela, Desde la Oligarquia Conservadora Hasta La Revolucion Bolivariana: 1830-2012. Uno Vision cuantitativa *: Venezuelan Economic Growth From The Conservative Oligarchy To The Bolivarian Revolution (1830-2012), Revista De Historia Económica / Journal of Iberian and Latin American Economic History, 31(3), 321-357. doi:10.1017/S0212610913000190
- Former Yugoslavia — 1952-2008: Milanovic (2011). Estimates provided to the Maddison-Project; 2008 -: Based on GDP and population data for their successor states
- South Africa — 1700–1900 (Cape Colony): Fourie, J. and Van Zanden, J.L. (2013). GDP in the Dutch Cape Colony: the Nationals Accounts of a Slave-Based Society, South African Journal of Economics, vol. 81 (4): 467 - 490
- Zambia — 1906-1950: Broadberry, S., & Gardner, L. (2022). Economic growth in Sub-Saharan Africa, 1885–2008: Evidence from eight countries. Explorations in Economic History, 83, 101424.
- Zimbabwe — 1914-1950: Broadberry, S., & Gardner, L. (2022). Economic growth in Sub-Saharan Africa, 1885–2008: Evidence from eight countries. Explorations in Economic History, 83, 101424.
Angus Maddison's original sources (2010)
- Argentina — 1900-1913: Unpublished annual estimates supplied by ECLA/CONADE. and quinquennial averages published in El Desarrollo Económico de la Argentina, ECLA, Mexico, 1959, p. 15;; 1913-1950: IEERAL, "Estadísticas de la evolución económica de Argentina, 1913-84", Estudios, Buenos Aires, July-September, 1986.
- Australia — 1820-1828: Butlin, N.G. 'Our 200 Years', Queesland Calendar, 1988; 1828-1860: N.G. Butlin, "Contours of the Australian Economy 1788-1860", Australian Economic Review, Sept. 1986, pp. 112-13;; 1861-1938/9: N.G. Butlin, Australian Domestic Product, Investment and Foreign Borrowing 1861-1938/9, Cambridge, 1962,pp.460-1; amdended as indicated in N.G. Butlin, Investment in Australian Economic Development 1861-19000, Cambridge, 1964, p. 453 and with revised deflator shown in M.W. Butlin, A Preliminary Annual Databae 1900/1901 to 1973/1974, Discussion Paper 7701, Reserve Bank of Australia, 1977, p. 41; 1938/9-1950: from expenditure aggregates in 1966/7 prices in M.W. Butlin, RS/FLW/, p.85.
- Austria — 1830-1913: Kausel, "Oster-reichs Volkseinkommen 1830 bis 1913" in Geschichte und Ergebnisse der zentralen amtlichen Statistik in Österreich 1829-1979, Beitrage zur österreichischen Statistik, Heft 550, Vienna, 1979, pp. 692-3.; 1913-50: A. Kausel, N. Nemeth, and H. Seidel, "Oster-reichs Volkseinkommen, 1913-63", Monatsberichte des Osterreichischen Institutes für Wirtschaftsforschung, 14th Sonderheft, Vienna, August 1965, p. 38 and 42;
- Belgium — 1846-1913: J. Gadisseur, "Contribution à l'étude de la production agricole en Belgique de 1846 à 1913", Revue belge d'histoire contemporaine, vol. IV, 1-2, 1973,; 1913-1950: C. Carbonnelle, "Recherches sur levolution de la production en Belgique de 1900à 1957", Cahiers Economiques de Bruxelles, no. 3, April 1959, p. 358.
- Bangladesh — 1900-1950: Maddison, A. Monitoring the World Economy, 1995
- Brazil — 1900-1950: A. Maddison and Associates, The Political Economy of Poverty, Equity and Growth: Brazil and Mexico, Oxford University Press, New York 1992;
- Canada — 1820-1850: Maddison, A. Monitoring the World Economy, 1995; 1851-70: O.J. Firestone, "Canada's Changing Economy in the Second Half of the 19th Century", NBER, New York, 1957, processed, amended for 1820–70 to include income of the indigenous population (taken to be $400 per capita in 1820 and 1870); 1870-1926: M.C. Urquart and Associates, ed., Gross National Product, Canada 1870-1926: The Derivation of the Estimates, McGill Queen's University Press, Montreal, 1993, pp. 11-12 and 24-5,; 1926-1950: Statistics Canada, National Income and Expenditure Accounts, vol. 1, The Annual Estimates 1926-1974, Ottawa, 1975, p. 323. 1960 onwards from OECD, National Accounts.
- Colombia — 1929 - 1950: CEPAL, Series Historicas del Crecimiento de America Latina, Santiago, 1978
- Czechoslovakia — 1820-1913: A. Kausel, "Österreichs Volkseinkommen 1830 bis 1913", in "Geschichte und Ergebnisse der zentralen amtlichen Statistik in Österreich 1829-1979", Beiträge zum Osterreichischen Statistik, 550, Vienna, 1979.; 1913-37: F.L. Pryor, Z.P. Pryor, M. Stadnik, and G.J. Staller "Czechoslovakia Aggregate Production in the Inter-war Period", Review of Income and Wealth, March 1971, p.36.; 1937-50: G. Lazarcik, "Czechoslovak Gross National Product by Sector of Origin and Final Use, 1937, and 1948-65"", Occasional Paper 26, Research Project on National Income in East Central Europe, New York, 1969.
- Denmark — 1820-1947: S.A. Hansen, Okonomisk vaekst i Danmark, vol. II, Institute of Economic History, Copenhagen, 1974, pp. 229-32; 1947-50: Soren Larsen, "Reviderede tidsserier for produktionsvaerdi og bruttofaktorindkomst for perioden 1947- 65", CBS, Copenhagen, 1992, mimeographed.
- Germany — 1850-1950: Hoffmann, Grumbach and Hesse, op. cit., pp. 454-5.
- Finland — 1860-1960: R. Hjerppe, The Finnish Economy 1860-1985: Growth and Structural Change, Bank of Finland, Helsinki, 1989, pp. 198-200.
- France — 1850-1913: Toutain, Le Produit interieur de la France de 1789 a 1982, Presses Universitaires de Grenoble, 1987; 1920-1950: Toutain, Le Produit interieur de la France de 1789 a 1982, Presses Universitaires de Grenoble, 1987
- United Kingdom — 1870-1950: C.H. Feinstein, National Income Expenditure and Output of the United Kingdom 1855-1965, Cambridge, 1972
- Greece — 1913-1929: C. Clark, Conditions of Economic Progress, 3rd edition, Macmillan, London, 1957; 1929-38 GNP at factor cost from Ekonomikos Tachydromos, 22 May 1954; 1938-50 from OEEC, Europe and the World Economy, Paris 1960, p.116.; 1929-1950: Maddison, A. Monitoring the World Economy, 1995
- Hungary — 1870-1913: L. Katus, "Economic Growth in Hungary during the Age of Dualism (1867-1913)" in E. Pemlenyi, ed., Social Economic Research in the History of East Central Europe, Akademiai Kiado, Budapest, 1970, p.108 and J. Komlos, The Habsburg Monarchy as a Customs Union, Princeton, 1983, pp. 291-3; 1900-42: A. Eckstein, "National Income and Capital Formation in Hungary, 1900-50", in S. Kuznets, ed., Income and Wealth, series V GNP index, Bowes and Bowes, London, 1955, p. 175; 1938-50: from L. Czirjak, "Hungarian GNP by Sectors of Origin of Product and End Uses, 1938 and 1946-67", Occasional Paper 43, Research Project on East Central Europe, New York, 1973.
- India — 1870-1900: A. Heston, "National Income", in D. Kumar and M. Desai, Cambridge Economic History of India, vol. 2, Cambridge, 1983, p. 397.; 1900-46: A. Maddison, "Alternative Estimates of the Real Product of India, 1900-46", Indian Economic and Social History Review, 22, 2, 1985.; 1946-50: A. Maddison, Class Structure and Economic Growth: India and Pakistan Since the Moghuls, Allen and Unwin, London, 1971, p. 169.
- Ireland — 1820, 1870, 1913: MPD 2013, Bolt and Van Zanden, 2014, The Maddison Project: collaborative research on historical national accounts. The Economic History Review, 67(3), 627–651; 1913-1926: P. Deane (1968), and Feinstein, 1972; 1926-1950: K.A. Kennedy, Productivity and Industrial Growth: The Irish Experience, Oxford University Press, 1971, p. 3.
- Republic of Korea — 1820, 1870: Maddison, A. Monitoring the World Economy, 1995
- Myanmar — 1901-1938: "Trends of Economic Growth and Income Distribution in Burma 1870-1940", Journal of the Burma Research Society, 1964, p. 144; 1938-1950: E.E. Hagen, On the Theory of Social Change, Dorsey, Homewood, Illinois, 1962, Table 18-1,
- Netherlands — 1913-1950: C.A. van Bochove and T.A. Huitker, "Main National Accounting Series, 1900-1986", CBS Occasional Paper, No. 17, The Hague, 1987.
- Norway — 1930-1950: Central Bureau of Statistics Norway, 1970 and Maddison, A. Monintoring the World Economy, 1995
- New Zealand: — 1870-1939: K. Rankin, "New Zealand's Gross National Product: 1859-1939, Review of Income and Wealth, March 1992, pp. 60-1., 1870 amended to include indigenous population (taken to be $400 per capita); 1939-50: C. Clark, The Conditions of Economic Progress, third edition, Macmillan, London, 1957, pp. 171-2
- Peru — 1900-1913: Maddison, A. Monitoring the World Economy, 1995; 1913-1941: C.A. Bolona Behr, "Tariff Policies in Peru, 1880-1980", Ph.D. thesis, Oxford University, 1981;; 1942-1950: "Cuadros del producto interno bruto en dollares de 1950", CEPAL, Santiago, October 1962, mimeographed;; 1945-1950: Series Historicas del Crecimiento de America Latina, CEPAL, Santiago, 1978.
- Philippines — 1820-1900: Maddison, A. Monitoring the World Economy, 1995; 1900-1950: R.W. Hooley, "Long Term Growth of the Philippine Economy, 1902-1961", , The Philippine Economic Journal, First Semester, 1968.
- Poland — 1913-1929: Maddison, A. Monitoring the World Economy, 1995; 1929-1938: K. Laski, Akumulacja i spozycie w procesie uprzemyslowienia Polski Ludowej, Ksiazka i Wiedza, Warsaw, 1956, pp. 86-90; 1937-1950: T.P. Alton (1970), p. 46,
- Portugal — 1850-1913: Pedro Lains, "How Far Can We Go? Measuring Portuguese Economic Growth (1850-1913)"; 1938-1950: R. Janes Cartado and N.E. Sequeira da Rosa, Series Longas as Contas Nacionais Portuguesas 1958-1985, Banco de Portugal, Lisbon,
- Former USSR — 1928-40: R. Moorsteen and R.P. Powell, The Soviet Capital Stock 1928-1962, Irwin, Illinois, 1966, p. 361; 1945-50: R. Moorsteen and R.P. Powell, The Soviet Capital Stock 1928-1962, Irwin, Illinois, 1966, p. 362; 1950-90: CIA
- Thailand — 1820-1900: Maddison, A. Monitoring the World Economy, 1995; 1900-50: Sompop Manarungsan, "Economic Development of Thailand, 1850-1950", University of Groningen, Ph. D. thesis, 1989
- Turkey — 182, 1870: Maddison, A. Monitoring the World Economy, 1995; 1923-48: T. Bulutay, Y.S. Tezel and N. Yielderim, Turkiye Milli Geliri 1923-1948, Ankara, 1974.
- United States — 1820-1950: GDP movement from Maddison (1995a), amended for 1820–70 to include income of the indigenous population (taken to be $400 per capita in 1820 and 1870).
- Former Yugoslavia — 1870-1909: Maddison, A. The World Economy, a Millenial Perspective, OECD, 2001; 1909-12: I. Vinski, "National Product and Fixed Assets in the Territory of Yugoslavia 1900-59" , in P. Deane, ed., Income and Wealth, Series IX, Bowes and Bowes, London, 1961, p. 221; 1920-39: I. Vinski, "National Product and Fixed Assets in the Territory of Yugoslavia 1900-59" , in P. Deane, ed., Income and Wealth, Series IX, Bowes and Bowes, London, 1961, p. 222; 1947-52: I. Vinski, "National Product and Fixed Assets in the Territory of Yugoslavia 1900-59" , in P. Deane, ed., Income and Wealth, Series IX, Bowes and Bowes, London, 1961, p. 223