“Fast, Clear and Accurate”: How Reliable Are Chinese Output and Economic Growth Statistics?

2003 ◽  
Vol 173 ◽  
pp. 122-163 ◽  
Author(s):  
Carsten A. Holz
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Value Added ◽  
Published Data ◽  
Recent Criticism ◽  
National Bureau ◽  
Statistical System ◽  
Margin Of Error ◽  
Wide Range ◽  
Recent Developments

China's statistics are widely viewed as unreliable, with data falsification in order to meet economic growth targets increasingly the norm. This report examines some of the most recent criticism of statistics on China's industrial value-added and Gross Domestic Product, and shows this criticism to be unfounded as it is based on misunderstandings about the meaning and coverage of particular data. A lack of evidence on data falsification does not mean that China's statistical system is necessarily honest in its statistical reporting, but recent developments in China's statistical system further suggest that data falsification at the higher levels of the statistical bureaucracy is unlikely. Nevertheless, even if data are not being purposefully falsified by the National Bureau of Statistics, the margin of error in much of the published data is likely to be sufficiently large to allow the statistical authority a choice of final value from a relatively wide range of equally correct values.

China’s shadow banking sector: beneficial or harmful to economic growth?

2015 ◽  
Vol 7 (4) ◽  
pp. 421-445 ◽  
Author(s):  
James R. Barth ◽  
Tong Li ◽  
Wen Shi ◽  
Pei Xu
Keyword(s):  
Economic Growth ◽  
Banking Sector ◽  
Commercial Banking ◽  
Global Perspective ◽  
Shadow Banking ◽  
Content Type ◽  
Wide Range ◽  
Recent Developments ◽  
Major Factors ◽  
Made In

Purpose – The purpose of this paper is to examine recent developments pertaining to China’s shadow banking sector. Shadow banking has the potential not only to be a beneficial contributor to continued economic growth, but also to contribute to systematic instability if not properly monitored and regulated. An assessment is made in this paper as to whether shadow banking is beneficial or harmful to China’s economic growth. Design/methodology/approach – The authors start with providing an overview of shadow banking from a global perspective, with information on its recent growth and importance in selected countries. The authors then focus directly on China’s shadow banking sector, with information on the various entities and activities that comprise the sector. Specifically, the authors examine the interconnections between shadow banking and regular banking in China and the growth in shadow banking to overall economic growth, the growth in the money supply and the growth in commercial bank assets. Findings – Despite the wide range in the estimates, the trend in the size of shadow banking in China has been upward over the examined period. There are significant interconnections between the shadow banking sector and the commercial banking sector. Low deposit rate and high reserve requirement ratios have been the major factors driving its growth. Shadow banking has been a contributor, along with money growth, to economic growth. Practical implications – The authors argue that shadow banking may prove useful by diversifying China’s financial sector and providing greater investments and savings opportunities to consumers and businesses throughout the country, if the risks of shadow banking are adequately monitored and controlled. Originality/value – To the authors’ knowledge, this paper is among the few to systematically evaluate the influence of shadow banking on China’s economic growth.

scholarly journals The importance of agriculture in the development of Romanian economy

2016 ◽  
Vol 5 (1-2) ◽  
pp. 58-63
Author(s):  
Miroslav Raicov ◽  
Vasile Goşa ◽  
Adina Fuchs
Keyword(s):  
Economic Growth ◽  
Human Resources ◽  
Gross Domestic Product ◽  
Rural Population ◽  
Rural Economy ◽  
National Level ◽  
Value Added ◽  
External Trade ◽  
Important Position ◽  
Important Branch

Agriculture represent one of the most important branches of the Romanian economy. Within performing the suggested analysis we started from the premise that the economy of each country, regardless of developing degree, agriculture, by natural and human resources available, by contributing to the creation of gross domestic product, of gross value added, but also by participating at internal and external trade, obviously holds an important position. Romanian rural economy is currently dominated in a large part by agriculture. Favorable geographical conditions, topography, climate, fertile soils, in addition with workforce, a suitable administrative system, but the connection of rural population to land and animals can make the Romanian agriculture as production branch attractive and profitable to determine economic growth at national level. Thus, we considered necessary to perform an analysis concerning the importance of Romanian agriculture, analysis that represents the basis for finding the most viable solutions to determine this particularly important branch - to relaunch in the development of Romanian rural economy.

scholarly journals PENGARUH PERTUMBUHAN EKONOMI TERHADAP PENERIMAAN PAJAK PENGHASILAN DAN PAJAK PERTAMBAHAN NILAI

2007 ◽  
Vol 7 (1) ◽  
pp. 83
Author(s):  
Herman ,
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Income Tax ◽  
Government Expenditure ◽  
Value Added ◽  
Value Added Tax ◽  
Tax Collection ◽  
Economy Growth ◽  
Test Result ◽  
Is Value

<p class="Style1">The purpose of this research is to find out the effect of economy growth toward tax collection, especially income tax andiralue added tax. The data covered from 1985 until 2005. Some variables included in this researdi such as: consumption, investment, government expenditure and import, and dependent variable is value added tax and income tax collection. The analyzing tools which used are nonnallytest, analyzing of variance, and goodness of fitand t-test. Result of analysis finds that the economy growth has significant effect to the income tax collection and value added tax collection.</p><p class="Style1">Keywords: Economic Growth, Gross Domestic Product, Income Tax, and Value Added Tax</p>

scholarly journals Recent Developments in Lead and Lead-Free Halide Perovskite Nanostructures towards Photocatalytic CO2 Reduction

Nanomaterials ◽  
2020 ◽  
Vol 10 (12) ◽  
pp. 2569
Author(s):  
Chaitanya B. Hiragond ◽  
Niket S. Powar ◽  
Su-Il In
Keyword(s):  
High Performance ◽  
High Surface ◽  
Co2 Reduction ◽  
Value Added ◽  
Wide Range ◽  
Recent Developments ◽  
Metal Organic ◽  
Halide Perovskites ◽  
Halide Perovskite ◽  
Crystallographic Defects

Perovskite materials have been widely considered as emerging photocatalysts for CO2 reduction due to their extraordinary physicochemical and optical properties. Perovskites offer a wide range of benefits compared to conventional semiconductors, including tunable bandgap, high surface energy, high charge carrier lifetime, and flexible crystal structure, making them ideal for high-performance photocatalytic CO2 reduction. Notably, defect-induced perovskites, for example, crystallographic defects in perovskites, have given excellent opportunities to tune perovskites’ catalytic properties. Recently, lead (Pb) halide perovskite and their composites or heterojunction with other semiconductors, metal nanoparticles (NPs), metal complexes, graphene, and metal-organic frameworks (MOFs) have been well established for CO2 conversion. Besides, various halide perovskites have come under focus to avoid the toxicity of lead-based materials. Therefore, we reviewed the recent progress made by Pb and Pb-free halide perovskites in photo-assisted CO2 reduction into useful chemicals. We also discussed the importance of various factors like change in solvent, structure defects, and compositions in the fabrication of halide perovskites to efficiently convert CO2 into value-added products.

scholarly journals Application of Nanotechnology in Wood-Based Products Industry: A Review

2020 ◽  
Vol 15 (1) ◽  
Author(s):  
Latifah Jasmani ◽  
Rafeadah Rusli ◽  
Tumirah Khadiran ◽  
Rafidah Jalil ◽  
Sharmiza Adnan
Keyword(s):  
Economic Growth ◽  
Value Added ◽  
Lignocellulosic Materials ◽  
Recent Developments ◽  
Application Fields ◽  
Nanosized Material ◽  
Value Added Products

Abstract Wood-based industry is one of the main drivers of economic growth in Malaysia. Forest being the source of various lignocellulosic materials has many untapped potentials that could be exploited to produce sustainable and biodegradable nanosized material that possesses very interesting features for use in wood-based industry itself or across many different application fields. Wood-based products sector could also utilise various readily available nanomaterials to enhance the performance of existing products or to create new value added products from the forest. This review highlights recent developments in nanotechnology application in the wood-based products industry.

scholarly journals Analysis of the Nexus of CO2 Emissions, Economic Growth, Land under Cereal Crops and Agriculture Value-Added in Pakistan Using an ARDL Approach

Energies ◽  
2019 ◽  
Vol 12 (23) ◽  
pp. 4590 ◽  
Author(s):  
Ali ◽  
Liu ◽  
Shah ◽  
Tariq ◽  
Ali Chandio ◽  
...  
Keyword(s):  
Economic Growth ◽  
Carbon Dioxide ◽  
Gross Domestic Product ◽  
Carbon Dioxide Emissions ◽  
Value Added ◽  
Domestic Product ◽  
Series Data ◽  
Cereal Crops ◽  
Long Run ◽  
Integration Test

The present study attempts to explore the correlation between carbon dioxide emissions (CO2 e), gross domestic product (GDP), land under cereal crops (LCC) and agriculture value-added (AVA) in Pakistan. The study exploits time-series data from 1961 to 2014 and further applies descriptive statistical analysis, unit root test, Johansen co-integration test, autoregressive distributed lag (ARDL) model and pairwise Granger causality test. The study employes augmented Dickey–Fuller (ADF) and Phillips–Perron (PP) tests to check the stationarity of the variables. The results of the analysis reveal that there is both short- and long-run association between agricultural production, economic growth and carbon dioxide emissions in the country. The long-run results estimate that there is a positive and insignificant association between carbon dioxide emissions, land under cereal crops, and agriculture value-added. The results of the short-run analysis point out that there is a negative and statistically insignificant association between carbon dioxide emissions and gross domestic product. It is very important for the Government of Pakistan’s policymakers to build up agricultural policies, strategies and planning in order to reduce carbon dioxide emissions. Consequently, the country should promote environmentally friendly agricultural practices in order to strengthen its efforts to achieve sustainable agriculture.

scholarly journals The Nexus Between Government Revenue and Economic Growth in Nigeria

2020 ◽  
Vol 34 (1) ◽  
pp. 35-45
Author(s):  
Fineboy Ikechi Joseph ◽  
Cordelia Onyinyechi Omodero
Keyword(s):  
Economic Growth ◽  
Value Added ◽  
Ordinary Least Squares ◽  
National Bureau ◽  
Ex Post ◽  
Research Designs ◽  
Ex Post Facto ◽  
Secondary Form ◽  
The Government ◽  
The Relationship

AbstractThe aim of the study is to examine the relationship between government revenues and the economic growth of Nigeria. The study employs exploratory and ex-post facto research designs while using secondary form of data spanning from 1981 to 2018 collected from the Federal Inland Revenue Services (FIRS), National Bureau of Statistics and CBN statistical bulletin. The relationship is tested by using Ordinary Least Squares (OLS) regression technique. The result reveals that federally received revenue and Value Added Tax (VAT) have a moderate positive relationship with the economic growth. The study provides evidence that there is a need for the government to formulate relevant revenue policies that will boost government income in order to have more favourable implication on the economy.

scholarly journals Non-Oil Tax Revenue on Economic Growth and Development in Nigeria

2020 ◽  
Vol 5 (3) ◽  
Author(s):  
Folajimi Festus Adegbie ◽  
Nwaobia A. N. Nwaobia ◽  
Olalekan Osinowo
Keyword(s):  
Economic Growth ◽  
Growth And Development ◽  
Tertiary Education ◽  
Value Added ◽  
Tax Revenue ◽  
National Bureau ◽  
Economic Growth And Development ◽  
Crude Oil Prices ◽  
Ex Post ◽  
The Individual

Globally, government is experiencing difficulties in generating adequate revenue to finance their activities. In Nigeria, studies have shown that the recent sharp reduction in the revenue was as a result of decline in crude oil prices which inversely affected the financial ability of government towards growth and development of the nation. To this end, this paper therefore investigated the effect of non-oil taxes on economic growth and development of Nigeria. The study employed ex-post facto research design. Macro data for the period 1994Q1-2017Q4 representing seventy six (76) observations were obtained from CBN statistical bulletin and National Bureau of Statistics. The documents were already exposed to the scrutiny of the appropriate regulatory agencies. The data were analyzed using descriptive and inferential statistics employing multiple regressions. The study discovered that non-oil taxes (custom and excise duties, capital gain tax, company income tax, tertiary education tax and value added tax) have significant effect on economic growth. (Adj. R2 = 0.75, F(5,71) = 213.43, p< .0.05). The individual effects are also positive and statistically significant: (VAT- β = 8.011, t(76)= 2.802, ρ<0.05, CIT- β = 2.560, t(76)= 2.383, ρ<0.05, CED - β = 1.767, t(76)=3.092, ρ<0.05, CGT- β = 4.162, t(76)= 3.509, ρ<0.05, and TET- β = 0.161, t(76)= 2.443, ρ<0.05). This study concluded that non-oil taxes significantly influenced both economic growth and economic development in Nigeria. The study recommended that government must strive to sustain the current unflinching commitment towards improving non-oil tax revenue, ensure Tertiary Education Tax collected translates into real development and also ensure efficient utilization of tax payers’ money to boost non-oil tax revenue collection which will then lead to economic growth and development.

A Universal EITC: Making Work Pay in the Age of Automation

2020 ◽  
Vol 73 (4) ◽  
pp. 1187-1218
Author(s):  
Leonard E. Burman
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Income Tax ◽  
Value Added ◽  
Tax Burden ◽  
Tax Credit ◽  
Value Added Tax ◽  
Earned Income ◽  
Working Families ◽  
Child Tax Credit

The universal earned income tax credit is a worker subsidy designed to offset wage stagnation. The base proposal would replace existing subsidies for working families with a refundable 100 percent tax credit on individual wages up to $10,000 and a larger, refundable child tax credit. The maximum credit grows with gross domestic product, guaranteeing that low-wage workers benefit from economic growth. The credits are offset by a broad-based value-added tax or income surtax. The proposals are progressive: After-tax income for the bottom quintile would increase by about 25 percent. The tax burden on the top 1 percent would increase by 7-14 percent of income, depending on financing.

scholarly journals The importance of technological progress in measuring economic growth in Bosnia and Herzegovina

2020 ◽  
Vol 12 (1) ◽  
pp. 35-55
Author(s):  
Faruk Hadžić
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Social Services ◽  
Technological Progress ◽  
Value Added ◽  
Well Being ◽  
Economic Thought ◽  
Domestic Product ◽  
Knowledge Based ◽  
Gross Value Added

Economic growth is one of the most important concepts in the world economy. Although some authors critically believe that the level and rates of economic growth do not necessarily reflect the actual standard of living, it still remains the main way to measure a country's well-being. Different views on the topic of economic growth, as well as the factors that influence it, have been present throughout the history of economic thought from the very beginning. Unlike many theories of economic growth, which believe that in the long run there will be diminishing returns on factors of production such as labor and capital, Paul Romer in his theory of endogenous growth believes that technological progress, through knowledge accumulation, idea creation and innovation, leads to increasing returns, and thus contributes more to long-term economic growth, unlike other factors. In this paper, on the example of economic growth in B&H, the hypothesis that the activities of knowledge-based services contribute more to the gross domestic product, compared to other sectors was tested. To prove the hypothesis, a multiple linear regression model was made based on a time series of 48 consecutive quarterly values of B&H gross domestic product and sectoral gross value added according to the income and production approach. In the model, activities were grouped into those that are predominantly labor-intensive, knowledge-based services, personal and social services, and other activities. The results showed that the average value of gross value added per worker employed in the sectors of knowledge-based services has a 2.5 higher contribution compared to a worker in the labour-intensive sectors and a 2.47 higher contribution compared to one worker in the personal and social services segment. Also, tests of the implemented model show that additional employment in the sectors of knowledge-based services leads to accelerated economic growth in B&H.

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