The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Measurement of Economic Growth

  • C. H. Feinstein
Reference work entry


Economic growth is most commonly defined in terms of the rate of change in some measure of national product per head of population at constant prices. It is thus appropriate to consider four issues arising from this definition: the evolution of attempts to measure economic growth; the conceptual basis of the standard definition; various objections to this, and possible alternative concepts; and the actual historical record of selected nations with respect to their rate of economic growth.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • C. H. Feinstein
    • 1
  1. 1.