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The Emerging New Concept of Services in the System of National Accounts and the Balance of Payments

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  • Damien Broussolle

Abstract

type="main"> The new manuals of the National Accounts and of the Balance of Payments are implementing new features regarding services. The paper points out the emergence of an innovative concept of services which is highly relevant but whose consequences may not be fully understood. This new perspective helps to focus on the true nature of services, but it also redefines the borders between services and goods. The paper addresses the problems left unresolved, or brought in, by the revisions. Furthermore, it studies the treatment of non-financial services in the BOP as compared to the SNA. Although the two approaches have been rendered more compatible, the BOP still incorporates several inconsistencies. The hesitancy to completely implement the new services definition tends to somewhat blur the measurement of trade in services.

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  • Damien Broussolle, 2015. "The Emerging New Concept of Services in the System of National Accounts and the Balance of Payments," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 61(3), pages 573-586, September.
    • Handle: RePEc:bla:revinw:v:61:y:2015:i:3:p:573-586
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    File URL: http://hdl.handle.net/10.1111/roiw.12097
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    References listed on IDEAS

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    1. Jean-Pierre Berthier, 1999. "Les nouvelles évaluations de biens et services dans les comptes nationaux," Économie et Statistique, Programme National Persée, vol. 321(1), pages 7-29.
    2. Brent R. Moulton, 2004. "The system of national accounts for the new economy: What should change?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 50(2), pages 261-278, June.
    3. T. P. Hill, 1977. "On Goods And Services," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 23(4), pages 315-338, December.
    4. Hill, T P, 1977. "On Goods and Services," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 23(4), pages 315-338, December.
    5. William Cave & Enrico Giovannini, 2007. "The Statistical Measurement Of Services: Recent Achievements And Remaining Challenges," Metroeconomica, Wiley Blackwell, vol. 58(3), pages 479-501, July.
    6. Peter Hill, 1999. "Tangibles, intangibles and services: a new taxonomy for the classification of output," Canadian Journal of Economics, Canadian Economics Association, vol. 32(2), pages 426-446, April.
    7. Valérie Chauvin, 2000. "Les comptables nationaux s'accordent entre eux. Modification de la comptabilité nationale en France," Revue de l'OFCE, Programme National Persée, vol. 72(1), pages 157-183.
    8. Damien Broussolle, 2012. "Le commerce des services, un commerce en trompe-l'œil ?. Une analyse fondée sur le point de vue de Hill," Revue économique, Presses de Sciences-Po, vol. 63(6), pages 1145-1177.
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    Cited by:

    1. Timon Bohn & Steven Brakman & Erik Dietzenbacher, 2018. "The role of services in globalisation," The World Economy, Wiley Blackwell, vol. 41(10), pages 2732-2749, October.

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