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Developments in National Accounts Martin Kellaway

Developments in National Accounts Martin Kellaway. Developments in National Accounts. International manuals that provide framework being updated (SNA93, ESA95) SNA08 ESA10. Developments in National Accounts. International manuals that provide framework being updated

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Developments in National Accounts Martin Kellaway

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  1. Developments in National Accounts Martin Kellaway

  2. Developments in National Accounts International manuals that provide framework being updated (SNA93, ESA95) • SNA08 • ESA10

  3. Developments in National Accounts International manuals that provide framework being updated • Intellectual property assets • R&D expenditure as capital formation • Weapons systems now capital formation • FISIM fully included • Financial derivatives boundary extended

  4. Developments in National Accounts International manuals that provide framework being updated (SNA93, ESA95) • Pension entitlements – unfunded schemes • Government schemes option • Loan guarantees

  5. Developments in National Accounts • Inadequate focus on financial markets at expense of production. • Financial crisis, sovereign debt concerns. Maastricht, Stability & Growth. • Greece, new EU powers. • New issues – ‘bad banks’. • Emissions Trading/concessional loans.

  6. Developments in National Accounts • UK National Accounts • July 2010 Blue Book. • Surprising growth of 1.2% in 2010q2 • Construction boom (9.5% output) • GCF 4.1% (but GFCF only 1.4%), ends 6 quarters of substantial destocking, new and existing dwellings.

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