Popis: |
Cuban dollar GDP per capita in 1980 is estimated using different variants of the physical indicators (PI) method. Three variants are discussed and analyzed: rudimentary PI, elaborated PI, and factor analysis PI. The iterative procedure suggested by the elaborated PI method is found to produce anomalous empirical results and to lack theoretical foundation. In constant 1980 dollars ( K v , scale), Cuban GDP per capita in 1980 is estimated to be $2325 by the rudimentary PI method and $2691 by the factor analysis PI method. In 1980 international dollars ( K x scale), Cuban GDP per capita in 1980 is estimated to be $3385 by the rudimentary PI method and $3483 by the factor analysis PI method. The plausibility of these estimates is discussed. |