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Accounting For Gold: The South African Case

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  • Terence Moll

Abstract

Real output measures in the UN System of National Accounts should be continually re‐evaluated, to ensure they are providing indicators appropriate for user needs. The South African gold mining industry is an intriguing case in which the conventional output indicators are highly misleading for various analytical purposes, largely because the usual background assumptions are particularly invalid. Due to the size of the industry, its precise treatment can have sizeable effects on estimates of the growth of GDP, particularly over periods when the price of gold changes. A number of easily produced additional output measures are suggested to help analyse productivity growth and differences between the growth of real output and real incomes.

Suggested Citation

  • Terence Moll, 1992. "Accounting For Gold: The South African Case," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 38(2), pages 185-198, June.
  • Handle: RePEc:bla:revinw:v:38:y:1992:i:2:p:185-198
    DOI: 10.1111/j.1475-4991.1992.tb00419.x
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    Cited by:

    1. Nattrass, Nicoli, 1995. "The crisis in South African gold mining," World Development, Elsevier, vol. 23(5), pages 857-868, May.

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