Financial Intermediation Services Indirectly Measured: Estimates for France and the UK based on the Approach Adopted in the 1993 SNA
AbstractThe 1994 SNA proposes a revised treatment of the output of financial intermediaries which treats intermediation services in part as a component of final demand, so that GDP is higher than the 1968 SNA suggests. We present here the results of attempts to estimate FISIM (Financial Intermediation Services Indirectly Measured) for France and the United Kingdom. The French study uses a reference rate calculated so as to ensure that no imputation is made with respect to own funds, while the UK study relies on a market interest rate. Both studies present an allocation of intermediation services by industry as well as by category of demand. The adjustments to GDP are of similar magnitudes in both countries.
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Bibliographic InfoPaper provided by National Institute of Economic and Social Research in its series NIESR Discussion Papers with number 97.
Date of creation: Jul 1996
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