GDP as a Measurer of the Economic Growth – Methodological Specifics and Trends
AbstractThe paper examines the discussion issues and trends in the development of the GDP indicator, set in National Account System (NAS), for the more adequate presenting of the actual economic growth. The characteristic of this indicator is outlines and its methodological specifics and limitations as a statistical category are analyzed. The results of the work of the Commission on the Measurement of Economic Performance and Social Progress, headed by J. Stiglitz, are presented and commented. New moments in the introduced NAS’2008 are outlined. GDP is the first and most often used indicator in the international economic comparisons and the implementation of contemporary models of the economic growth. That is why at the end the paper presents the methodological specifics and challenges before it, when it is calculated on the basis of the parity of the purchase ability.
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Bibliographic InfoArticle provided by Bulgarian Academy of Sciences - Economic Research Institute in its journal Economic Studies.
Volume (Year): (2010)
Issue (Month): 4 ()
Find related papers by JEL classification:
- C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
- C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Heston, Alan & Summers, Robert, 1996. "International Price and Quantity Comparisons: Potentials and Pitfalls," American Economic Review, American Economic Association, vol. 86(2), pages 20-24, May.
- Rossitsa Rangelova, 2006. "Experience with Different Methodologies for National Income Accounting in Central and Eastern European Countries, 1950-1990," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 3-33.
- Fuess, Scott M, Jr & Van den Berg, Hendrik, 1996. "Does GNP Exaggerate Growth in "Actual" Output? The Case of the United States," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 42(1), pages 35-48, March.
- Heston, Alan, 1994. "A brief review of some problems in using national accounts data in level of output comparisons and growth studies," Journal of Development Economics, Elsevier, vol. 44(1), pages 29-52, June.
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