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Some Issues in the National Income Accounts of Pakistan (Rebasing, Quarterly and Provincial Accounts and Growth Accounting)

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  • Arby, Muhammad Farooq

Abstract

This dissertation takes on some important issues related with national accounts of Pakistan including (a) re-estimation of past series of national accounts (prior to the year 1999-00) to make it consistent with the new official series for years 1999-00 onward at new base year prices; (b) quarterisation of annual series of national accounts to remove one of the major stumbling block in research by making available high frequency data, (c) estimation of provincial accounts with new base year prices, and (d) estimation the contribution of total factor productivity (TFP) to economic growth with the new series of gross domestic product and its sub-sectors. Thus by embarking upon the above mentioned issues, the dissertation contributes to the economic literature in the following respects: • It provides a new set of national accounts at 1999-00 prices as well as at current prices for a period from 1970-71 to date consistent with the new official estimates for recent years. • It gives quarterly data of GDP and all its sectors/sub-sectors both at constant prices of 1999-00 and at current prices.1 A by-product of this exercise is quarterly GDP deflator (with 1999-00=100) which was earlier not available in Pakistan. • It presents estimates of provincial GDP and all its sectors/sub-sectors covering all the provinces in a consistent framework.2 • It provides series of gross fixed capital formation and capital stock estimated at disaggregated level and at prices of 1999-00. • It estimates contribution of TFP, capital and labour to the growth of GDP and its sectors/sub-sectors (growth rates of new series at 1999-00 prices).

Suggested Citation

  • Arby, Muhammad Farooq, 2008. "Some Issues in the National Income Accounts of Pakistan (Rebasing, Quarterly and Provincial Accounts and Growth Accounting)," MPRA Paper 32048, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:32048
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Ather Maqsood Ahmed & Wasim Shahid Malik, 2011. "The Economics of Inflation, Issues in the Design of Monetary Policy Rule, and Monetary Policy Reaction Function in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 16(Special E), pages 213-232, September.
    2. Muhammad Farooq Arby & Muhammad Jahanzeb Malik & Muhammad Nadim Hanif, 2010. "The Size of Informal Economy in Pakistan," SBP Working Paper Series 33, State Bank of Pakistan, Research Department.
    3. Muhammad Nadim Hanif & Muhammad Jahanzeb Malik, 2013. "Quarterisation of National Income Accounts of Pakistan," SBP Research Bulletin, State Bank of Pakistan, Research Department, vol. 9, pages 1-61.
    4. Shahzada M. Naeem Nawaz & Ather Maqsood Ahmed, 2015. "New Keynesian Macroeconomic Model and Monetary Policy in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 54(1), pages 55-71.
    5. Arshad, Ameena & Zakaria, Muhammad & Junyang, Xi, 2016. "Energy prices and economic growth in Pakistan: A macro-econometric analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 55(C), pages 25-33.
    6. Rashid, Abdul & Jehan, Zanaib, 2013. "Derivation of Quarterly GDP, Investment Spending, and Government Expenditure Figures from Annual Data: The Case of Pakistan," MPRA Paper 46937, University Library of Munich, Germany.
    7. Ahmed, Shahzad & Pasha, Farooq, 2014. "The Role of Money in Explaining Business Cycles for a Developing Economy: The Case of Pakistan," MPRA Paper 55262, University Library of Munich, Germany, revised 11 Apr 2014.

    More about this item

    Keywords

    National accounts; quarterly GDP; Provincial GDP; Total factor productivity; Pakistan economy;

    JEL classification:

    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)

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