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considerably more than Turkey, whose per capita income had changed little relative
to the US over the preceding decade 29 .
The consequences of 1974 on the structure, orientation and potential of the
economy.
By 1980 average per capita had risen to over $3800 30 . Admittedly significant
inflation, particularly over the preceding decade, had made such an increase much
less meaningful. In real terms, however, this was an increase in per capita income
of 41% between 1970 and 1980, exactly half as fast as the increase in real per
capita income between 1960 and 1970. 31 So seemingly, all other things being equal,
defacto division in 1974 had a negative effect on economic growth in the Republic
of Cyprus. Using Summers and Heston's data set again, per capita income in
Cyprus in 1980 had risen slightly relative to the US, to just over 32% of US per
capita income, as apposed to nearly 30% in 1970. This meant Cypriot per capita
income relative to the US in 1980 was considerably less than Greece's (at 38%), but
still considerably more than Turkey's, whose per capita income relative to the US
was little changed at 18% of US per capita income in 1980 (as apposed to 17% in
I960) 32 . Out of 142 countries for which there was comparable per capita income
data in 1980, Cyprus had slipped to be 46 th ranked after having risen to 36 th position
in 1970.
29 ibid.
30 (International $s at 1980 international prices.) ibid.
31 Real GDP per capita in constant dollars (Chain Index) (expressed in international prices, base
1985.) ibid.
¿yry
Real GDP per capita in current international prices relative to US [%] (current international
prices) ibid.
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