scholarly journals DYNAMICS OF GROSS DOMESTIC PRODUCT: СURRENT PROBLEMS OF MEASUREMENTS IN TERMS OF DIGITALIZATION OF THE ECONOMY

2020 ◽  
pp. 97-103
Author(s):  
A. S. Abroskin ◽  
N. A. Abroskina
Keyword(s):  
Gross Domestic Product ◽  
National Economy ◽  
Domestic Product ◽  
National Accounts ◽  
Methodological Basis ◽  
System Of National Accounts ◽  
Russian Economy ◽  
Macroeconomic Indicators ◽  
Definition Of ◽  
The Impact

The relevant for Russian statistics issues of digitalization processes accounting in the construction of gross domestic product indicator have been considered. Special attention to the problem of formation of the methodological basis for digital economy measurements – the definition of its boundaries, structure and principles of accounting for this object in the system of macroeconomic indicators – has been paid. An important aspect in the analysis are problems specific to measuring the impact of digitalization processes of the Russian economy on the level and dynamics of gross domestic product. These are the problems of use in the Russian practice the industrial approach, interpretation and correctness of the estimates obtained. As an alternative, an approach based on the allocation of digital segments in the industries of the national economy and taking into account their impact on gross domestic product dynamics in accordance with the general principles of the System of National Accounts, – has been proposed.

scholarly journals INTERNATIONAL EXPERIENCE OF ENVIRONMENTAL FACTORS ACCOUNTING IN ADJUSTING MACROECONOMIC INDICATORS

2019 ◽  
pp. 139-146
Author(s):  
A. Abroskin ◽  
N. Abroskina
Keyword(s):  
Economic Development ◽  
Environmental Factors ◽  
Gross Domestic Product ◽  
International Experience ◽  
Domestic Product ◽  
National Accounts ◽  
Factors Associated ◽  
System Of National Accounts ◽  
Socio Economic Development ◽  
Macroeconomic Indicators

New requirements to the system of macroeconomic indicators, corresponding to the concept of socio-economic development sustainability, have been determined. The factors, associated with the features of gross domestic product constructing methodology, determining the trends observed in international statistics for adjusting or replacing the gross domestic product with other analytical indicators, have been identified. Actual problems of environmental factors accounting in the construction of adjusted gross domestic product values have been considered. The basic schemes for constructing gross domestic product modified versions used in modern international statistics have been presented. Approaches to the reflection of environmental components in the System of National Accounts have been systematized. International experience of environmental factors accounting in adjusting macroeconomic indicators has been codified. Recommendations on the use of advanced international experience in accounting for environmental factors in Russian statistics have been presented.

scholarly journals REGIONAL GROSS DOMESTIC PRODUCT OF GEORGIA. METHODOLOGICAL CHANGES

World Science ◽  
2019 ◽  
Vol 3 (11(51)) ◽  
pp. 9-12
Author(s):  
Inga Benashvili ◽  
Mamuka Benashvili
Keyword(s):  
Gross Domestic Product ◽  
Domestic Product ◽  
National Accounts ◽  
Regional Structure ◽  
New Classification ◽  
System Of National Accounts ◽  
National Rate ◽  
Per Capita ◽  
Municipal Level ◽  
Constant Prices

The paper is devoted to the methodological changes in the calculation of regional Gross Domestic Product (GDP), mainly due to the introduction of the 2008 version of the System of National Accounts in Georgia. Other changes are related to the transition to a new classification system of economic activity (NACE rev2). Because of this, the regional structure of GDP has changed significantly.Regional GDP on a per capita basis, in 2018 Tbilisi ranks first (6122,5 USD). Then it will be followed by Adjara (5514.3 USD). Their rate is significantly higher than the national rate (4722.0 USD).The priority directions for calculating regional GDP in Georgia are as follows: •Receiving data directly from local units (local KAUs) by improving information sources;•More detailing of regionalization. In particular, at the municipal level; •Calculate regional GDP at constant prices.

A Tourism Satellite Account for the Netherlands: Approach and Results

2005 ◽  
Vol 11 (3) ◽  
pp. 393-409 ◽  
Author(s):  
Nicolaes Heerschap ◽  
Bart de Boer ◽  
Rutger Hoekstra ◽  
Arjan van Loon ◽  
Leon Tromp
Keyword(s):  
The Netherlands ◽  
Gross Domestic Product ◽  
Pilot Project ◽  
Economic Effects ◽  
Domestic Product ◽  
National Accounts ◽  
System Of National Accounts ◽  
Consistent Description

During 2002–03 Statistics Netherlands (CBS) conducted the pilot project ‘Tourism Satellite Accounts for the Netherlands’. This article describes the main results of this project. A Tourism Satellite Account (TSA) provides a systematic and consistent description of the economic effects of tourism based on an internationally recommended method in accordance with the system of National Accounts (UN et al, 1993). Roughly, tourism accounted for 2.5% of the Gross Domestic Product (GDP) of the Netherlands in 1999. In total, visitors spent about ₠21 billion in the Netherlands that year, which generated some 330,000 jobs, almost 4% of the total number of jobs in the country.

scholarly journals Education in Ukraine and Covid-19: New Perspectives and Opportunities

2021 ◽  
Vol 12 (6) ◽  
pp. 1405-1414
Author(s):  
Iryna Shtuler, Tatiana Suhak
Keyword(s):  
Financial Crisis ◽  
Gross Domestic Product ◽  
National Economy ◽  
Negative Impact ◽  
Domestic Product ◽  
Business Activity ◽  
Revenue Growth ◽  
Doing Business ◽  
Timely Response ◽  
The Impact

Officially, the COVID-19 pandemic reached Ukraine in March 2020 and came to Ukraine at a time when the national economy was not in the best condition. In fact, the COVID-19 pandemic has transformed not only the structure of the national economy, but also the way of doing business. This is evidenced by indicators that reflect changes in the structure of gross domestic product, changes in the structure of employment and marketing tools. The COVID-19 pandemic has already led to a financial crisis and a crisis in certain areas and sectors of the economy, but there are those who have benefited from quarantine measures. However, there are industries and areas of activity for which the COVID-19 pandemic has given a good start and revenue growth. Timely response and targeted action will reduce the negative impact of the COVID-19 pandemic, prevent a decline in business activity, create conditions for the development of Ukrainian manufacturers and reduce the impact of the crisis caused by the COVID-19 pandemic.

scholarly journals Tourism contribution to Gross Domestic Product (GDP) and Gross Value Added (GVA)

2020 ◽  
Vol 10 (3) ◽  
pp. 176-182
Author(s):  
Milin Ioana Anda ◽  
Merce Iuliana Ioana ◽  
Iancu Tiberiu ◽  
Pet Elena ◽  
Tigan Eugenia
Keyword(s):  
Gross Domestic Product ◽  
Value Added ◽  
Tourism Industry ◽  
Domestic Product ◽  
Data Series ◽  
National Accounts ◽  
Tertiary Sector ◽  
Goods And Services ◽  
Gross Value Added ◽  
Macroeconomic Indicators

The overall evolution of the economy is usually appreciated by two macroeconomic indicators GDP and GVA, which by their value gives us clear information on the state of the economy.  Gross domestic product (GDP), the main macroeconomic aggregate of national accounts, is the final result of the production activity of resident producer units and which corresponds to the value of goods and services produced by these units for final consumption. Gross Value Added (GVA) is the balance of the production account and is measured as the difference between the value of the goods and services produced (valued at basic prices) and the intermediate consumption (valued at the buyer's prices), thus representing the new value created in the production process. GVA is calculated before calculating the consumption of fixed capital. Since 1990, we have been confronted with a major restructuring of the way GDP and GVA are created due to the intensive process of restructuring the economy. In the paper we will analyze the basis of the processing of national statistical data, how the tourism component of the tertiary sector contributes to the formation of the aggregate indicators presented above. In 2016, Romania had a GDP of 169.6 billion euros, below the Czech level (174.4 billion euros), Greece (175.9 billion euros) and Portugal (184.9 billion euros). Data series published by the European Statistical Office show that in the first quarter of this year, Romania's GDP adjusted for seasonal influences was 44.2 billion euros, while the value of GDP- Greece was 43.96 billion euros, the Czech Republic's 44.85 billion euros, and Portugal's 47.37 billion euros. In terms of GVA training, Romania is included in the European Union's Statistical Yearbook 201 6 as the country with the largest contributions to the Gross Value Added  in the economy from industry, agriculture and construction, simultaneously with the lowest Public sector contribution (administration, defense, education, health and social welfare, etc.) Although professional, scientific and technical activities have seen the largest increase in the share of Gross Value Added  training, they remain below the average of 10.4% Registered on the whole EU. There is an increase in the art, entertainment, recreation and other activities related to tourism - which brought us near the European customs and contributed to the "structural convection" of the Romanian economy. Touristic activity, particularly complex, with upstream and downstream implications, generates a tourism industry, whose components contribute to the formation of GDP and national  Gross Value Added   We will analyze the share of tourism in Romania's Gross Domestic Product in the period 2008-2014, gross value added in the tourism industry  direct gross value added from tourism  and gross domestic product of tourism  in 2013 and 2014.   Keywords: macroeconomic indicators, tourism industry, Gross Domestic Product, Gross Value Added economy

Measuring the Value of Data and Their Treatment in Macroeconomic Statistics

2020 ◽  
Vol 27 (6) ◽  
pp. 5-25
Author(s):  
A. A. Tatarinov
Keyword(s):  
Net Present Value ◽  
Digital Economy ◽  
National Accounts ◽  
Digital Products ◽  
Adequate Treatment ◽  
System Of National Accounts ◽  
Macroeconomic Indicators ◽  
Productivity Dynamics ◽  
The Impact ◽  
Data Valuation

The paper studies the role of data as an economic asset in the digital economy. The research is focused on the development of an approach to comprehensive data valuation and their adequate treatment in macroeconomic statistics. The first part of the paper reviews the major publications on the so-called Solow productivity paradox: the impact of digital technologies on the productivity growth slowdown. Considering points of view of various researchers, the author takes an opinion that the existing statistical methodology does not permit comprehensive measuring of the digital economy contribution to the productivity dynamics. At the same time, the author does not support the proposal to include the value of data generated by unpaid household activities in macroeconomic accounting and expand the scope of key macroeconomic indicators such as GDP. In the second and the third parts the methods of data valuation used by companies as assets in production, as well as major discussed proposals on methods for measuring the value of data in macroeconomic statistics, are considered. These two aspects of data valuation are closely related, both informationally and methodologically. The author concludes that an increase in the need for the valuation of data at the micro level will inevitably lead to corresponding changes in the methodology of macroeconomic statistics. The last part of the paper explores more elaborately the issues of data valuation as a non-produced asset. The need for such an approach is caused by the existing gap between the marketed assessment of the contribution of data to production and the existing possibilities for accounting for them at the costs of their production. In the author’s opinion, this is a promising direction, allowing to overcome the indicated gap. In support of this, the article provides examples of experimental calculations based on IFRS reports of four Russian companies involved in the production of digital services. Experimental valuation of non-produced assets using the net present value method shows that the value of the non-produced assets involved in the production of data-driven companies differs from the values recorded in their financial statements. This, in particular, occurs due to the underestimation or overestimation of the value of the data used in production, which, according to the author, constitutes the bulk of the unidentified unproduced assets of digital companies. The author concludes that the development of methods for accounting for the value of data as a non-produced asset used in the production of digital products is one of the priority tasks of developing the methodology of the system of national accounts.

Gross domestic product as the subject of criticism

2017 ◽  
Vol 62 (3) ◽  
pp. 5-15
Author(s):  
Bohdan Wyżnikiewicz
Keyword(s):  
Gross Domestic Product ◽  
Social Progress ◽  
Social Aspects ◽  
Domestic Product ◽  
National Accounts ◽  
System Of National Accounts ◽  
Economic Organizations ◽  
European System ◽  
Separate System ◽  
The Subject

Gross domestic product (GDP) is the most important and the most common measure of production and its changes, estimated in the national accounts. Since the second half of the 20th century, the UN in cooperation with other international economic organizations has been working on new versions of rules for GDP estimation, known as the System of National Accounts (SNA) and its European version, the European System of National and Regional Accounts (ESA). The GDP concept has been criticised by economists, politicians and journalists mainly due to their disappointment that GDP does not measure social progress. This article aims at presenting issues and conventional solutions concerning GDP, which are the subject of criticism, as well as demands for changes in the methodology of computing this measure. This paper concludes that it is not possible to build a single indicator for measuring both economic growth and social development. The barrier to constructing a measure of social progress with features similar to GDP is the requirement for evaluative assumptions which are beyond the GDP concept. It was found that a separate system of indicators should be developed for statistical measurement of social aspects of development.

scholarly journals Methodological Features of GDP Formation Within the Framework of the System of National Accounts

2020 ◽  
Vol 17 (2) ◽  
pp. 10-17
Author(s):  
K. A. Alekseev
Keyword(s):  
Gross Domestic Product ◽  
Production Method ◽  
Product Formation ◽  
Standard System ◽  
Domestic Product ◽  
National Accounts ◽  
Product Data ◽  
International Standard ◽  
System Of National Accounts ◽  
The International Monetary Fund

Purpose of the study. The aim of this work is to examine methodological approaches to the formation of gross domestic product on an annual and quarterly basis within the framework of the System of National Accounts, using the example of 189 countries. The work is based on a dynamic and structural analysis of statistical information of gross domestic product published on the official websites of statistical agencies and the International Monetary Fund.Materials and methods. The information base of the study is the official statistical data of countries published on the website of the International Monetary Fund, as well as methodological provisions for the formation of gross domestic product. The research methodological base is represented by statistical methods of information analysis and empirical research.Results. The analysis of data and methodological approaches to gross domestic product formation in different countries has been carried out, as a result of which the main problems of a number of countries regarding the accuracy and relevance of gross domestic product data have been identified. These problems are grouped into six key criteria based on practical macroeconomic approaches, in particular gross domestic product: updating of the base year, annual and quarterly gross domestic product data, timeliness of reporting gross domestic product data, method of compiling gross domestic product (production, expenditure, income), use of the international standard “System of national accounts, 2008”.Conclusion. Despite a rather large volume of macroeconomic indicators, one of the main indicators is gross domestic product, the dynamics of which reflects the development of the economy. Therefore, reliable data on gross domestic product play a key role in the analysis of macroeconomic and financial policies, as well as in the analysis and accuracy of forecasting the development of the country’s economy. The study revealed that 50% of the countries surveyed had acceptable base years, meaning that the transition to the new base year did not exceed 10 years. Virtually all countries generate annual gross domestic product data, while quarterly estimates of gross domestic product form about 65% of countries. The timeliness of data dissemination also varies from country to country, and many do not publish date information. 72% surveyed countries provide annual gross domestic product data in a timely manner, while 55% surveyed countries provide quarterly gross domestic product data in a timely manner. The production method is the most common of the three methods of calculating gross domestic product (the production method, the method of using income and the generation of gross domestic product by source of income). Gross domestic product formation in accordance with the current version of the international standard “System of National Accounts, 2008” is applied in 52% of countries, and in most other countries the previous version of the international standard “System of National Accounts, 1993” is used.

scholarly journals An Application of Panel Ordered Probit Model to Credit Scoring

2018 ◽  
Author(s):  
Ebru Çağlayan Akay ◽  
Zamira Oskonbaeva
Keyword(s):  
Gross Domestic Product ◽  
Credit Scoring ◽  
Probit Model ◽  
Ordered Probit ◽  
Domestic Product ◽  
Ordered Probit Model ◽  
Annual Data ◽  
Sovereign Credit Ratings ◽  
Macroeconomic Indicators ◽  
The Impact

Ratings are important in attracting foreign capital so they play a great role in the financial system of a country. The aim of the study is to investigate the impact of macroeconomic indicators on sovereign credit ratings assigned by Fitch. For this aim Panel ordered probit model was applied to the annual data from 2000 to 2011. The analysis rests on panel of 44 countries. According to the results obtained it can be concluded that gross domestic product growth rate , per capita gross domestic product, unemployment, export, default history and the level of economic development significantly affect ratings.

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