18 November 2008

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Session 4: Discussion Shlomo Yitzhaki Israel

Considerations regarding future revisions of SNA  Kirsten Wismer, Director of Economic Statistics, Statistics Denmark  Justification, criteria, implementability considerations for revisions – developing country perspective  Omi Kelsom Elias, Director, National Accounts Statistics Division, Department of Statistics, Malaysia  Governance, mandate and functions  Karen Wilson, Director General, System of National Accounts Branch, Statistics Canada

High Level Forum for the Long-Term Development of the SNA

Targets of National Accounts

International comparisons of level of well being (or Economic Strength) Internal purpose: identifying the business cycle

Is it a question of administrative capacity     Prices are a function of income distribution and income distribution is a function of prices Difference between value and price (19 th century water vs. diamonds).

Non-tradable Difference in valuation of non-market activity (e.g. human capital as a consumption good, over education).

The starting point

    Easy to make irrelevant valuations Need to prevent comparison of non comparable (unobserved economy, Different involvement of government) different Imputations: need to differentiate between stocks and flows

Conclusion: No easy solution

Stat-Denmark recommendations

 No continuous updating and stability

Required for comparability both over time and between countries 25 years – seems like a starting offer

Procedures laid down up front – reasonable Close cooperation with other statistical areas -

not clear. Who is responsible?

STAT-Denmark recommendations

NA is a core of a broader…

A recommendation for satellite accounts – less ambitious more practical

Department of Statistics, Malaysia recommendations

 Developing Countries  Define milestones and levels Question: Is it worth to divide into

categories

Allocate Resources and an organizer

Program should be defined and agreed upon

Governance Statistics Canada

 Establishing of research agenda academic views

Question: May be unbalanced

Consensus building process

Question: How to do it?

Final Governance..

Question: Is there an alternative?