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.

scholarly journals Measuring Digital Economy in National Accounts

2019 ◽  
Vol 26 (2) ◽  
pp. 5-17 ◽  
Author(s):  
A. A. Tatarinov
Keyword(s):  
Net Present Value ◽  
Statistical Evaluation ◽  
Value Added ◽  
Research Programme ◽  
Digital Economy ◽  
National Accounts ◽  
Digital Products ◽  
The Difference ◽  
Principal Subject ◽  
Digital Components

The paper addresses methodological and practical issues of statistical evaluation of the digital economy in macroeconomic calculations. The UN Statistical Commission has determined the statistical description of digitalisation processes as one of the priorities of the SNA research programme.The author examines the problems and structure of Digital Economy Satellite Account (DESA) proposed by OECD as a complex tool for measuring digitalisation processes. Compiling this account will enable statisticians to evaluate all measurable phenomena in a digital economy and expand the production boundaries by including free digital services into the evaluation.Compilers of the new SNA satellite account now focus on Digital Supply and Use Tables (DSUT) that play the role of core structure for the future DESA. In the process, the traditional SUT structure is revised by including new groups of specific products and extracting digital components of several products of CPA classification. Moreover, developers add new industries that form by reclassifying producer units en­gaged in digital production.The author explores the issue of measuring «digital» value added and outlines approaches to solving it used, for example, by the US Bureau of Economic Analysis. He also gives a summary of the relevant methodological challenges affecting DESA compilation.Special attention in the paper is paid to the problem of valuation of data (information) which is not covered by the existing 2008 SNA methodology. The author proposes to evaluate data as a non-produced asset, using the Net Present Value (NPV) approach. According to it the value of information (non-produced asset) at a specific moment is equal to the difference between the sum of discounted future incomes of the organisation and the value of its fixed capital. Such an approach could be applied to the valuation of data used as a principal subject of activity by organisations producing digital products.The paper also presents various aspects of statistical evaluation of free digital products.It is the author’s opinion that approaches to statistical evaluation presented in this article could serve as a basis for creating the system of such measures in the Russian Federation.

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 THEORETICAL AND METHODOLOGICAL PRINCIPLES OF NATIONAL ACCOUNTING IN THE SYSTEM OF ECONOMIC MECHANISM OF UKRAINE

2021 ◽  
Author(s):  
Irina Varenik ◽  
Vitaliy Akulenko ◽  
Irina Prigara
Keyword(s):  
The State ◽  
Evolutionary Development ◽  
Economic Systems ◽  
National Accounts ◽  
Accounting Data ◽  
Economic Mechanism ◽  
National Accounting ◽  
System Of National Accounts ◽  
Macroeconomic Indicators ◽  
Methodological Principles

Based on the study of the concept of national accounting, it is established that the essence and meaning of this term has its origins in the basics of initial accounting of business transactions in the economy. According to scientific research and conclusions of various scholars on the nature and content of the process of national accounting and in particular national accounts, the main conclusions about the state and methodology of national accounting in the country. A comparative analysis of the evolutionary development of national accounting in different economic systems is made and the necessity of application and efficiency of using the System of National Accounts as a single register of macroeconomic indicators in the system of national accounting is proved. Integrated economic information is the basis for the formation of macroeconomic indicators. The use of integration information resource allows to effectively form and analyze macroeconomic indicators. The relevance of this study is to highlight the main provisions that prove the need to use the mechanism of national accounting in the system of economic mechanism and prove the effectiveness of the system of national accounts as a single register of macroeconomic accounting. The study is based on the findings of many scientists in the field of research of the economic mechanism of the country. Substantive conclusions prove the need to combine the original accounting information and its integration into the general macroeconomic register. This will avoid errors in the formation of macro indicators and increase the transparency and accuracy of national accounting data. Thus, the effectiveness of macroeconomic accounting in order to assess and analyze the state of the economic mechanism and prospects for its development is proved. The main conclusions of economists on the interpretation of the essence and methodology of modern national accounting and the use of the system of national accounts are highlighted and generalized, supplemented with material on the integration of economic resources and its impact on the formation of macroeconomic indicators.

scholarly journals Peculiarities of accounting of reserves and unfinished production in the system of national accounts

2019 ◽  
pp. 72-77
Author(s):  
D. I. Gelaev ◽  
M. G. Uspaeva
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Reporting Standards ◽  
National Accounts ◽  
Accounting Systems ◽  
Financial Reporting Standards ◽  
System Of National Accounts ◽  
Macroeconomic Indicators ◽  
Main Components ◽  
Market Output

The article has been devoted to the study of the problems of applying the information of financial statements of enterprises and organizations in the formation of fundamental macroeconomic indicators. The features of the methodology of the agreed accounting systems have been examined, the theoretical aspects of inventory accounting and unfinished production, when assessing the market output in the System of National Accounts, have been studied. The main macroeconomic indicators in International financial reporting standards (IFRS) and the System of National Accounts have been considered. The main components of the gross output and assumptions, on the basis of which the choice of the intermediate account format, have been adduced.

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 STATISTICAL STUDY OF INCOME AND EXPENDITURE HOUSEHOLDS IN THE REPUBLIC OF UZBEKISTAN

2021 ◽  
pp. 23-29
Author(s):  
Samandar Kosimov ◽  
Khaidar Kuvnokov Ph.D
Keyword(s):  
Household Income ◽  
Regional Level ◽  
Cash Income ◽  
National Accounts ◽  
Basic Principles ◽  
System Of National Accounts ◽  
Theoretical Approaches ◽  
The Republic ◽  
Definition Of ◽  
The Impact

The purpose of the study is to clarify the theoretical approaches associated with the formation and forecasting of household cash income, and to develop, on this basis, methodological recommendations for forecasting them in the system of regional accounts. To achieve this goal, the following tasks have been set: research and clarify theoretical and methodological approaches to the formation and forecasting of household income at the regional level; show the evolution of the economic essence of household income in the theoretical views of foreign and Uzbek researchers, systematize the basic principles of the formation of household income, necessitating the need to clarify the definition of household income, highlight the features of the formation of shadow income and informal household income in order to assess the impact of these processes on the formation of cash household income, to formulate the main directions of improving the study and forecasting of household cash income at the regional level, to carry out predictive experimental calculations of household cash income of the constituent entity of the Republic of Uzbekistan. KEYWORDS: Republic of Uzbekistan, statistics, income, expenditure, households, system of national accounts

scholarly journals PROTECTION OF THE ENVIRONMENT THROUGH THE NATIONAL ACCOUNTANCY

1970 ◽  
Vol 65 (2) ◽  
Author(s):  
Maria Criveanu ◽  
Silvia Simionescu
Keyword(s):  
Industrial Revolution ◽  
Point Of View ◽  
Environment Protection ◽  
National Accounts ◽  
Cancer Syndrome ◽  
System Of National Accounts ◽  
Current Period ◽  
One Year ◽  
Xix Century ◽  
The Impact

In the conditions of the current period, characterized through demographic increase, economical and industrialization development but also through the action often uncontrolled of human upon the environment, it is matter of environment protection. The preoccupations for the protection of natural environment were felt since the beginning of XIX century when was implied the active participation to the protection of nature beauties and to the prevention of abusive exploitation of the natural rich. In 1930 was published the Law for Protecting the Monuments of Nature, the first law for the environment protection, and one year later took place the Committee for the Protection of Nature Monuments that functions today also under the patronage of the Romanian Academy. Under the impact of the economical development, of the industrial revolution and mostly, of the technical-scientific revolution, were created lacks of balance in the environment through the pollution phenomena, more or less serious the soil level, water and air; disappearance or about to disappear many plants and animals species; the apparition of various diseases caused by pollution (SIDA, cancer, syndrome of mad cow, etc), phenomena that manifest today at the level of all countries and continents. Among time it was observed that, destroying the forests, due to which there is stability and quality of three fundamental elements of human lives, soil, air and water, provoked disastrous effects upon the environment. The actual problems of the environment may be solved through the most precise evaluation of the outturn in future of the natural resources (exhaustion of hydrocarbons deposits, restrain of wooded surfaces) in the national accountancy. National accountancy (System of national accounts) represents an evidence system and the macro economical analyze used in the statistics of the countries with a market economy, in the statistics O.N.U. and other international organizations to represent quantitative the economical reality in a period of time or at a certain moment. The evaluation and integration of the environment in the national accountancy is difficult matter, hard to realize because regarded from the economical point of view is ascertained as it offers support for the economical activity.

scholarly journals Public Sector Financial Balances Based on the System of National Accounts

2021 ◽  
Vol 17 (3) ◽  
pp. 1027-1041
Author(s):  
Аleksey F. Pasynkov
Keyword(s):  
Public Sector ◽  
Public Administration ◽  
Federal State ◽  
Sverdlovsk Oblast ◽  
National Accounts ◽  
Financial Flows ◽  
Internal Resources ◽  
System Of National Accounts ◽  
Financial Balance ◽  
The Impact

Studies on the impact of government expenditures on regional and municipal development mainly focus on examining local budgets. Simultaneously, each territory has various channels for financing public needs and collecting taxes and other payments. Therefore, this research develops and tests a methodology to construct the public sector financial balance at the municipal level. The presented approach in based on the System of National Accounts (SNA), which considers expenditures and revenues of the federal, regional or municipal budgets as a single institutional sector, regardless of their affiliation. Therefore, in order to achieve the municipal financial balance, it is necessary to analyse tax payments at various budget levels, grouping them in accordance with the SNA classification. For calculating municipal expenditures, an original technique was developed to consider the costs of all public sector financial flows, including direct federal and regional sources. We use official information on municipal payroll obtained from the Federal State Statistics Service database. The net lending/borrowing ratio is taken as a balance indicator of supply and use. Public sector financial balances were constructed for 69 municipalities of Sverdlovsk oblast. Calculations have shown that, on average, public sector expenditure is almost equally divided between regional and federal budgets (one half) and municipal budgets (another half). Various municipality types were identified: 9 donors of public administration resources in Sverdlovsk oblast; 5 territories (including Ekaterinburg city) with a moderate deficit of internal resources; 35 municipalities with a significant lack of finances; 11 areas completely dependent on public administration resources. This work is part of the research aiming to develop the System of Territorial Accounts, tat is, an SNA analogue that can be implemented at the regional and municipal levels.

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