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Real GDP, Real GDI and Trading Gains: Canada, 1981-2005

Author

Listed:
  • Ulrich Kohli

Abstract

Real gross domestic product (GDP) fails to account for the trading gains and losses that result from changes in the terms of trade and in the real exchange rate (the price of tradables relative to the price of nontradables). Canada has enjoyed vast improvements in its terms of trade over recent years and there is a growing suspicion that real GDP has done an inadequate job at reflecting the resulting increases in real value added and real gross domestic income (GDI). Superlative measures of the terms of trade and real exchange rate effects confirm this view, with the trading gains adding up to 4.8 per cent of GDP between 2002 and 2005.

Suggested Citation

  • Ulrich Kohli, 2006. "Real GDP, Real GDI and Trading Gains: Canada, 1981-2005," International Productivity Monitor, Centre for the Study of Living Standards, vol. 13, pages 46-56, Fall.
  • Handle: RePEc:sls:ipmsls:v:13:y:2006:4
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    References listed on IDEAS

    as
    1. Burgess, David F., 1974. "Production theory and the derived demand for imports," Journal of International Economics, Elsevier, vol. 4(2), pages 103-117, May.
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    Citations

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    Cited by:

    1. W. Erwin Diewert & Emily Yu, 2012. "New Estimates of Real Income and Multifactor Productivity Growth for the Canadian Business Sector, 1961-2011," International Productivity Monitor, Centre for the Study of Living Standards, vol. 24, pages 27-48, Fall.
    2. Idrisov, Georgiy & Ponomarev, Yuriy & Sinelnikov-Murylev, Sergei, 2015. "Terms of trade and economic development of modern Russia," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 3, pages 7-37.
    3. Diewert, Erwin & Mizobuchi, Hideyuki, 2009. "An Economic Approach to the Measurement of Productivity Growth Using Differences Instead of Ratios," Economics working papers erwin_diewert-2009-2, Vancouver School of Economics, revised 09 Jan 2009.
    4. Macdonald, Ryan, 2007. "Not Dutch Disease, It's China Syndrome," Insights on the Canadian Economy 2007017e, Statistics Canada, Economic Analysis Division.
    5. Marshall B. Reinsdorf, 2010. "Terms Of Trade Effects: Theory And Measurement," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages 177-205, June.
    6. repec:eee:rujoec:v:2:y:2016:i:3:p:279-301 is not listed on IDEAS
    7. Diewert, Erwin, 2008. "Changes in the Terms of Trade and Canada's Productivity Performance," Economics working papers diewert-08-03-11-11-03-49, Vancouver School of Economics, revised 18 Jul 2008.
    8. Michael Siegenthaler, 2015. "Has Switzerland Really Been Marked by Low Productivity Growth? Hours Worked and Labor Productivity in Switzerland in a Long-run Perspective," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 61(2), pages 353-372, June.
    9. repec:bla:revinw:v:63:y:2017:i::p:s134-s148 is not listed on IDEAS

    More about this item

    Keywords

    Real GDP; Trade; Real exchange rate; Real GDI; Measurement on GDP;

    JEL classification:

    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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