Norwegian Living Standards and Gross Domestic Product in the 18th century: Comparing Standard and Indirect Measures

Welcome to the UiS School of Business and Law Research Seminar in Economics and Finance. The seminar is open for all interested.

• Date: Wednesday, February 19th
• Time: 12:15-13:15.
• Place: University of Stavanger School of Business and Law, Ullandhaug Campus, Elise Ottesen-Jensens hus, room EOJ 276/277 and on Zoom
• Seminar guest: Visiting Researcher: Lars C. Bruno - BI Norwegian Business School
  
  Link to Zoom meeting
  Meeting-ID: 650 7189 1001
  Password: 265738

• Title: Norwegian Living Standards and Gross Domestic Product in the 18th century: Comparing Standard and Indirect Measures

Abstract:

Previous research and available data strongly suggest that living standards improved markedly across all four Nordic countries during the late 19th century. However, the 18th century remains less understood in this regard. Gross Domestic Product (GDP) per capita has traditionally served as a key indicator of living standards in both historical analyses and contemporary research. Currently, Sweden is the only Nordic country with GDP figures available prior to the 19th century. For Denmark, the GDP series begins in 1818, for Norway in 1816, and for Finland in 1860.

Current research is attempting to construct estimates for Norwegian GDP for the 1720-1815 period using a traditional approach utilizing archival sources. The presentation will give an overview of the current research. In addition, GDP per capita for 18th century Denmark, Finland and Norway can be estimated using cointegration analysis, with a long-term relationship existing between GDP per capita and the birth-to-death ratios for the pre-modern period.