SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
ISEG (School of Economics and Management) of the Technical University of Lisbon
UECE (Research Unit on Complexity and Economics) and DE (Department of Economics)
Outline
1. Introduction
2. Looking for empirical evidence about the activity of countries
3. The SAM-based approach
4. Constructing numerical versions of SAMs from the SNA…
Exposition:
4.1. Basic structure and consistency with the whole system
4.2. Disaggregations and extensions
4.3. Aggregates, indicators and balances
accompanied by an
application of a
SAM to Portugal
4.4. Examples of policy-type questions that can be addressed using a SAM
5. Summary and concluding remarks
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
1.
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
Social Accounting Matrix (SAM):
 square matrix, in which the sum of the rows is equal to the
corresponding sum of the columns
– entries made in the rows represent resources, incomes, receipts or
changes in liabilities and net worth
– entries made in columns represent uses, outlays, expenditures or changes
in assets
 tool for measuring the society’s activity underlying which there are
systems that can be worked upon in different ways
description
SAM-based approach • empirical  SAM numerical version
 SAM algebraic version
[methodological framework based on the works of R.Stone and G.Pyatt]
• theoretical
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
2.
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
A SAM can have two versions:
→ a numerical version
- describes the activity of a society empirically
- each cell has a specific numerical value, with the sums of the rows
being equal to the sums of the columns
→ an algebraic version
- describes that same activity theoretically
- each cell is filled with algebraic expressions that, together with
those of all the other cells, form a SAM-based model, the
calibration of which involves a replication of the numerical
version
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
3.
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
SAMs are tools that have specific features for studying the
activity of countries.
allow for the reading and interpretation of the reality under
study leading to the production of an empirical work that is
• not only capable of highlighting specific aspects of that activity
• but also offers the chance to experiment with different
interventions in regard to its functioning
... proposal for a basic SAM, together with an explanation of
possible alternative taxonomies, showing how SAMs can be used
– as an alternative support for studies being undertaken in several areas
– for the work of those taking part in the policy decision process
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
4.
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
national accounts
the core of the statistics representing the activity of countries
their adoption is recommended, at least as a starting point (for any study
that is looking for empirical evidence about the activity of countries)
basic structure is proposed for a numerical version of a SAM
 from the 2008 SNA
 a summary set of the flows that the SNA assumes to be observed and
the controlling totals for other levels of disaggregation
 from which, it is possible to study specific aspects and maintain the
consistency of the whole system
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
5.
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
accounts represented by its rows and columns
• production: products (goods and services), activities (industries) and
factors
• (domestic) institutions: current, capital and financial
• rest of the world
consistency is only possible when production and
institutions are worked on together
Disaggregations … do not affect the consistency of the whole system
Extensions … pass through the convenient adjustment to, or the connection
with, the whole system in order to maintain its consistency
Concern with .. is a condition for ensuring that the network of linkages that
underlies the activity of countries is complete  besides the generation of
income, the distribution, redistribution and use of income, as well as the
redistribution and accumulation of wealth, have to be included.
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
6.
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
matrix format  increased analytical content  possibility of
capturing and working with networks of linkages not captured and
worked on otherwise
network of linkages can only be identified and worked on in a matrix
form in a tool like the SAM
• can be worked on not only for the observed but also for the nonobserved activity of countries through the national accounts
The convenient coverage of that network of linkages is a necessary
condition for capturing multiplier effects in subsequent modelling,
which can provide important knowledge
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
7.
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
aggregates, indicators and balancing items, can be calculated
outside the matrix format  different forms of analysis
Depending on the detail of the SAM, we can e calculate more or less detailed
• aggregates, such as Gross Domestic Product (GDP), Gross
National Income, Disposable Income, etc.
• structural indicators of the functional and institutional distribution
of generated income, as well as the indicators of the use of
disposable income.
• the main items in the revenue and expenditure of the institutional
sectors and of the rest of the world (extracted from the respective
rows and columns of the SAM)
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
8.
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
Extracted from a SAM which can be the numerical version of
→ the reality under study
→ the replication(s) after running a SAM-based model(s) in order
to try out policy measures
↓
one or more scenarios representing the impacts of those policy
measures
↓
when compared with
can support the processes of policy decision-making and policy
decision-taking
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
9.
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
two examples of policy-type questions that can be addressed using
the proposed version
→ under the scope of the social policy measures
→ working with specific flows in which government and households
intervene directly (namely the current transfers between them
both)
A. the case of the direct taxes on income, paid by the households to
the government
B. the case of the social benefits, paid by the government to the
households
first step: identification of the absolute and relative
importance of these flows in the main items of the
revenue and expenditure of the these institutional sectors
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
10.
Revenue and expenditure of Portuguese Government in 2009 and the relative importance of current taxes on income, wealth, etc., (transactions D5)
received from households and of social benefits other than social transfers in kind (transaction D62) paid to the households.
Resources or Revenue (SAM row)
106 euros
Relative
importance
of D5 in..
106 euros
(%)
1. Current
Account (a)
58 407
Gross National Income
70 102
37 160
522
Current transactions to domestic
institutions
- D62 paid to households
31 215
28 483
Net taxes on products
19 694
Current transactions to the RW
1 726
Current transactions from
domestic institutions
- D5 received from households
37 610
10 107
2. Capital
Account
106 euros
40.6
-11 695
91.2
26.9
615
1 246
Capital transactions from
domestic institutions
Capital transactions from the
RW
3 = 1 + 2 (b)
17.3
Final Consumption
Current transactions from the RW
Relative
importance
of D62 in..
(%)
- 34
Net taxes on production
Balancing
item
Uses or Expenditure (SAM column)
6 687
128
1 181
59 653
Gross Capital Formation
5 071
Capital transactions to domestic
institutions
1 301
Capital transactions to the RW
315
16.9
Sources: Table 3 (rows/columns 8 and 13); Statistics Portugal (INE)
(a) Balancing item = Gross saving; (b) Balancing item = - Net lending (+)/borrowing (-)
76 788
-5 441
37.1
-17 135
11
Revenue and expenditure of Portuguese Households in 2009 and the relative importance of current taxes on income, wealth, etc., (transactions D5)
paid to the government and of social benefits other than social transfers in kind (transaction D62) received from the government.
Resources or Revenue (SAM row)
106 euros
Relative
importance
of D62 in..
106 euros
(%)
1. Current
Account (a)
160 747
Gross National Income
Current transactions from
domestic institutions
- D62 received from the
government
Current transactions from the
RW
2. Capital
Account
17.7
147 019
120 015
Final Consumption
106 206
36 949
28 483
Current transactions to
77.1 domestic institutions
- D5 paid to the government
39 468
10 107
Current transactions to the
RW
3 783
369
106 euros
6.9
13 728
25.6
1 345
5 093
Capital transactions from domestic
institutions
192
Gross Capital Formation
Capital transactions from the RW
177
Capital transactions to
domestic institutions
161 116
Relative
importance
of D5 in..
(%)
Capital transactions to the
RW
3 = 1 + 2 (b)
Balancing
item
Uses or Expenditure (SAM column)
17.7
-4 724
7 269
3
-2 179
152 112
6.6
9 004
Sources: Table 3 (rows/columns 5, and 10); Statistics Portugal (INE)
(a) Balancing item = Gross saving; (b) Balancing item = - Net lending (+)/borrowing (-)
12
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
..proposal is intended to contribute towards a more detailed and
complete study of the activity of countries →
→ with greater knowledge being provided about the whole and the
corresponding interactions of its parts

will allow for subsequent interventions to be carried out in relation
to the parts while remaining aware of the impacts that this will have
on the whole
.. a possible way of introducing empirical evidence into the work
being carried out at the macroeconomic level
where the network of linkages within the socioeconomic
groups that intervene in the activity of countries should not
continue to be neglected so completely
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
13.
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
The adoption of this principle could even allow for
•
further contributions to be made towards the improvement of the SNA
•
ensure the greater commitment on the part of countries to adopt and
adapt this system
with greater collaboration between macroeconomists and statisticians.
x
Thank you for your attention!
(ssantos@iseg.utl.pt)
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
14.
The Basic SAM by blocks
p – products
a – activities
f – factors
dic – (domestic) institutions’ current
account
dik – (domestic) institutions’ capital
account
dif – (domestic) institutions’ financial
account
rw – rest of the world
total
p
TTM
(tp,p)
P
(ta,p)
a
IC
(tp,a)
0
f
dic
FC
(tp,dic)
dik
GCF
(tp,dik)
0
0
0
0
0
0
0
NTP
(tdic,p)
CFP_GAV
(tf,a)
NTA
(tdic,a)
CFP_GNI
(tdic,f)
CT
0
0
0
0
0
IM&NTP
(trw,p)
AS
(t.p)
NTA
(trw,a)
VCT
(t.a)
0
0
(tdic,dic)
S
(tdik,dic)
(tdik,dik)
0
0
0
CFP
(trw,f)
AFIP
(t.f)
CT
KT
(trw,dic)
AIP
(t.dic)
(trw,dik)
AINV
(t.dik )
KT
dif
rw
EX
(tp,rw)
total
AD
0
(tp.. )
VPT
0
0
(ta. )
AFIR
0
CFP (tf,rw)
(tf. )
CT
AI
0
(tdic,rw)
(tdic. )
NLB
KT
INVF
(tdik,dif)
(tdik,rw)
(tdik. )
FT
FT
TFTR
(tdif,dif)
(tdif,rw)
(tdif.)
FT
TVRWP
0
(trw,dif)
(trw.)
TVRWR
TFTP (t.dif)
(t..rw)
Source: Santos (2009; 2010)
15
Block: Production – P (cell: ta,p) (transaction P1 of the National Accounts)
the output of goods and services
p – products
a – activities
f – factors
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
dif
(tp,dik)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
0
0
KT
NLB
(tdik,dif)
(tdik,rw)
FT
FT
(tdif,dif)
(tdif,rw)
NTA
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
dik – (domestic) institutions’ capital account
0
0
0
S (tdik,dic)
dif – (domestic) institutions’ financial account
0
0
0
0
0
IM&NTP
(trw,p)
NTA
CT
KT
FT
(trw,dic)
(trw,dik)
(trw,dif)
rw – rest of the world
(trw,a)
EX
0
NTP
dic – (domestic) institutions’ current account
rw
CFP (trw,f)
(tdik,dik)
CT
(tdic,rw)
KT
0
16.
Block: Domestic Trade of goods and services (domestically produced or imported)
− Intermediate Consumption – IC (cell: tp,a) (transaction P2 of the National Accounts)
− Final Consumption – FC (cell: tp,dic) (transaction P3 of the National Accounts)
− Gross Capital Formation – GCF (cell: tp,dik) (transaction P5 of the National Accounts).
p – products
a – activities
f – factors
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
dif
(tp,dik)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
0
0
NTA
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
dik – (domestic) institutions’ capital account
0
0
0
S (tdik,dic)
dif – (domestic) institutions’ financial account
0
0
0
0
0
IM&NTP
(trw,p)
NTA
CT
KT
FT
(trw,dic)
(trw,dik)
(trw,dif)
rw – rest of the world
(trw,a)
EX
0
NTP
dic – (domestic) institutions’ current account
rw
CFP (trw,f)
KT
(tdik,dik)
CT
(tdic,rw)
KT
NLB
(tdik,dif) (tdik,rw)
FT
FT
(tdif,dif)
(tdif,rw)
0
17.
Block: External Trade of goods and services
– imports – IM (cell: trw,p) (transaction P7 of the National Accounts)
– exports – EX (cell: tp,rw) (transaction P6 of the National Accounts)
p – products
a – activities
f – factors
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
dif
(tp,dik)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
0
0
KT
NLB
(tdik,dif)
(tdik,rw)
FT
FT
(tdif,dif)
(tdif,rw)
NTA
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
dik – (domestic) institutions’ capital account
0
0
0
S (tdik,dic)
dif – (domestic) institutions’ financial account
0
0
0
0
0
IM&NTP
(trw,p)
NTA
CT
KT
FT
(trw,dic)
(trw,dik)
(trw,dif)
rw – rest of the world
(trw,a)
EX
0
NTP
dic – (domestic) institutions’ current account
rw
CFP (trw,f)
(tdik,dik)
CT
(tdic,rw)
KT
0
18.
Block: Trade and Transport Margins – TTM (cell: tp,p)
p – products
a – activities
f – factors
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
dif
(tp,dik)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
0
0
NTA
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
dik – (domestic) institutions’ capital account
0
0
0
S (tdik,dic)
dif – (domestic) institutions’ financial account
0
0
0
0
0
IM&NTP
(trw,p)
NTA
CT
KT
FT
(trw,dic)
(trw,dik)
(trw,dif)
rw – rest of the world
(trw,a)
EX
0
NTP
dic – (domestic) institutions’ current account
rw
CFP (trw,f)
CT
(tdic,rw)
KT
NLB
(tdik,dik) (tdik,dif) (tdik,rw)
KT
FT
FT
(tdif,dif)
(tdif,rw)
0
19.
Block: Net taxes on production and imports
− Net Taxes on Production – NTA (cells: tdic,a; trw,a) (transactions D29-D39 of the N. Acc.)
− Net Taxes on Products – NTP (cells: tdic,p; trw,p) (transactions D21-D31 of the N. Acc.)
p – products
a – activities
f – factors
dic – (domestic) institutions’ current account
dik – (domestic) institutions’ capital account
dif – (domestic) institutions’ financial account
rw – rest of the world
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
S (tdik,dic)
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
0
0
0
IM&NTP
(trw,p)
NTA
EX
(tp,dik)
NTA
0
rw
0
NTP
0
dif
0
0
0
(tdic,rw)
KT
NLB
(tdik,dik) (tdik,dif) (tdik,rw)
KT
FT
0
0
CT
KT
FT
(trw,dik)
(trw,dif)
(trw,a) CFP (trw,f) (trw,dic)
CT
FT
(tdif,dif) (tdif,rw)
0
20.
Block: Compensation of factors of production – CFP (cells: tf,a; tdic,f; tf,rw; trw,f)
− compensation of employees (transaction D1 of the National Accounts)
− “
of own assets (transaction D4, balances B2g and B3g of the N. Acc.)
p – products
a – activities
f – factors
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
dif
(tp,dik)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
0
0
NTA
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
dik – (domestic) institutions’ capital account
0
0
0
S (tdik,dic)
dif – (domestic) institutions’ financial account
0
0
0
0
0
IM&NTP
(trw,p)
NTA
CT
KT
FT
(trw,dic)
(trw,dik)
(trw,dif)
rw – rest of the world
(trw,a)
EX
0
NTP
dic – (domestic) institutions’ current account
rw
CFP (trw,f)
KT
(tdik,dik)
CT
(tdic,rw)
KT
NLB
(tdik,dif) (tdik,rw)
FT
FT
(tdif,dif)
(tdif,rw)
0
21.
Block: Current Transactions - CT (cells: tdic,dic; tdic,rw; trw,dic)
current taxes on income.., social contributions, social benefits in cash, other current
transfers, the adjustment made for the change in the net equity of households in
pension fund reserves (transactions D5, D61, D62, D7, D8 of the National Accounts)
p – products
a – activities
f – factors
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
dif
(tp,dik)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
0
0
NTA
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
dik – (domestic) institutions’ capital account
0
0
0
S (tdik,dic)
dif – (domestic) institutions’ financial account
0
0
0
0
0
IM&NTP
(trw,p)
NTA
CT
KT
FT
(trw,dic)
(trw,dik)
(trw,dif)
rw – rest of the world
(trw,a)
EX
0
NTP
dic – (domestic) institutions’ current account
rw
CFP (trw,f)
KT
(tdik,dik)
CT
(tdic,rw)
KT
NLB
(tdik,dif) (tdik,rw)
FT
FT
(tdif,dif)
(tdif,rw)
0
22.
Block: Capital Transactions - KT (cells: tdik,dik; tdik,rw; trw,dik)
− capital transfers (transaction D9 of the National Accounts);
− acquisitions less disposals of non-financial non-produced assets (transaction NP1-3)
p – products
a – activities
f – factors
dic – (domestic) institutions’ current account
dik – (domestic) institutions’ capital account
dif – (domestic) institutions’ financial account
rw – rest of the world
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
0
0
S (tdik,dic)
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
0
0
0
IM&NTP
(trw,p)
NTA
(trw,a)
EX
(tp,dik)
NTA
0
rw
0
NTP
0
dif
0
CFP (trw,f)
CT
(tdic,rw)
KT
NLB
(tdik,dik) (tdik,dif) (tdik,rw)
KT
0
0
CT
KT
(trw,dic) (trw,dik)
FT
FT
(tdif,dif) (tdif,rw)
FT
(trw,dif)
0
23.
Block: Financial Transactions – FT (cells: tdif,dif; tdif,rw; trw,dif)
(transactions F1-8 of the National Accounts)
p – products
a – activities
f – factors
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
dif
(tp,dik)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
0
0
NTA
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
dik – (domestic) institutions’ capital account
0
0
0
S (tdik,dic)
dif – (domestic) institutions’ financial account
0
0
0
0
0
IM&NTP
(trw,p)
NTA
CT
KT
FT
(trw,dic)
(trw,dik)
(trw,dif)
rw – rest of the world
(trw,a)
EX
0
NTP
dic – (domestic) institutions’ current account
rw
CFP (trw,f)
KT
(tdik,dik)
CT
(tdic,rw)
KT
NLB
(tdik,dif) (tdik,rw)
FT
FT
(tdif,dif)
(tdif,rw)
0
24.
Block: Gross Saving – S (cell: tdik,dic)
(balance B8g of the National Accounts)
p – products
a – activities
f – factors
dic – (domestic) institutions’ current account
dik – (domestic) institutions’ capital account
dif – (domestic) institutions’ financial account
rw – rest of the world
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
0
0
S (tdik,dic)
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
0
0
0
IM&NTP
(trw,p)
NTA
(trw,a)
EX
(tp,dik)
NTA
0
rw
0
NTP
0
dif
0
CFP (trw,f)
CT
(tdic,rw)
KT
NLB
(tdik,dik) (tdik,dif) (tdik,rw)
KT
FT
0
0
CT
KT
FT
(trw,dic)
(trw,dik)
(trw,dif)
FT
(tdif,dif) (tdif,rw)
0
25.
Block: Net borrowing/lending – NLB (cell: tdik,dif)
(balance B9 of the National Accounts)
p – products
a – activities
f – factors
p
a
TTM
IC
(tp,p)
P
(ta,p)
0
f
dic
dik
FC
GCF
(tp,a)
0
(tp,dic)
0
0
CFP_GAV
(tf,a)
dif
(tp,dik)
(tp,rw)
0
0
0
0
0
0
0
0
CFP (tf,rw)
CT
(tdic,dic)
0
0
NTA
(tdic,p)
(tdic,a)
CFP_GNI
(tdic,f)
dik – (domestic) institutions’ capital account
0
0
0
S (tdik,dic)
dif – (domestic) institutions’ financial account
0
0
0
0
0
IM&NTP
(trw,p)
NTA
CT
KT
FT
(trw,dic)
(trw,dik)
(trw,dif)
rw – rest of the world
(trw,a)
EX
0
NTP
dic – (domestic) institutions’ current account
rw
CFP (trw,f)
KT
(tdik,dik)
CT
(tdic,rw)
KT
NLB
(tdik,dif) (tdik,rw)
FT
FT
(tdif,dif)
(tdif,rw)
0
26.
Basic SAM of Portugal in 2009 (unit: 106 euros)
p
a
p – products
0
a – activities
311 365
162 661
dic
dik
dif
146 934
34 051
19 694
rw
total
47 236
390 882
311 365
149 403
f – factors
dic – (domestic) institu-tions’ current
account
dik – (domestic) institu-tions’ capital
account
dif – (domestic) institu-tions’
financial account
f
522
141 423
9 039
158 443
4 581
251 931
16 222
2 232
35 856
36 659
37 209
73 868
85 711
15 865
1 536
rw – rest of the world
59 823(a)
- 1 222
17 019
3 421
268
20 987
total
390 882
311 365
158 443
251 931
35 856
73 868
100 297
100 297
Sources: Statistics Portugal (INE); Portuguese Central Bank (Banco de Portugal).
(a)
59 717 (imports) + 106 (net taxes on products sent to the institutions of the European Union)
27
SAM of Portugal in 2009, with disaggregated factors of production and the (domestic) institutions’ current and capital accounts (unit: 106 euros)
Outlays (expenditures)
PRODUCTION
INSTITUTIONS
FACTORS
PRODUCTS
1
2
Labour
(employees)
Other
3
4
Households
Total
5
Nonfinancial Financial
Government
corporations corporations
6
7
NPISH
8
9
Total
0
162 661
0
0
0
106 206
0
0
37 160
3 568
146 934
ACTIVITIES
2
311 365
0
0
0
0
0
0
0
0
0
3
0
85 888
0
0
0
0
0
0
0
0
0
0
Other
4
0
0
63 515
149 403
0
0
0
0
0
0
0
0
0
0
0
34 258 120 015
0
801
0
0
0
0
0
1 830
5 226
28 998
95
36 949
FACTORS
1
Labour (employees)
CURRENT ACCOUNT
PRODUCTS
Households
5
0
0
0
85 757
Nonfinancial corporations
6
0
0
0
14 615
14 615
1 830
0
613
171
0
2 613
Financial corporations
7
0
0
5 990
5 990
5 289
519
131
42
32
6 013
Government
NonProfitInstitutionsServing
Households(NPISH)
Total
8
19 694
0
522
0
- 34
- 34
31 224
5 684
671
8
22
37 610
9
0
0
0
837
837
324
154
50
1 997
0
2 525
19 694
522
85 757
55 666 141 423
39 468
8 187
6 690
31 215
150
85 711
Households
10
0
0
0
0
0
13 728
0
0
0
0
13 728
Nonfinancial corporations
11
0
0
0
0
0
0
8 903
0
0
0
8 903
Financial corporations
12
0
0
0
0
0
0
0
5 283
0
0
5 283
Government
NonProfitInstitutionsServing
Households(NPISH)
Total
FINANCIAL ACCOUNT
13
0
0
0
0
0
0
0
0
- 11 695
0
- 11 695
14
0
0
0
0
0
0
0
0
0
- 354
- 354
0
0
0
0
0
8 903
5 283
- 11 695
- 354
15 865
0
0
0
0
0
0
16
59 823
0
- 1 222
0
0
13 728
15
0
0
370
16 649
17 019
1 345
240
110
1 726
0
3 421
390 882
311 365
86 127
72 315 158 443
160 747
17 331
12 082
58 407
3 363
CAPITAL ACCOUNT
INSTITUTIONS
PRODUCTION
Incomes (receipts)
ACTIVITIES
CURRENT ACCOUNT
Total
REST OF THE WORLD
TOTAL
Sources: Statistics Portugal (INE); Portuguese Central Bank (Banco de Portugal).
251 931
28
SAM of Portugal in 2009, with disaggregated factors of production and the (domestic) institutions’ current and capital accounts (unit: 106 euros)
(continued)
Outlays (expenditures)
INSTITUTIONS
CAPITAL ACCOUNT
Households
Nonfinancial
corporations
Financial
corporations
Government
NPISH
10
11
12
13
14
FINANCIAL
ACCOUNT
WORLD
15
16
TOTAL
Total
7 269
19 812
1 064
5 071
834
34 051
0
47 236
390 882
ACTIVITIES
2
0
0
0
0
0
0
0
0
311 365
3
0
0
0
0
0
0
0
239
86 127
Other
4
0
0
0
0
0
0
0
8 800
72 315
0
0
0
0
0
0
0
9 039
158 443
FACTORS
1
Labour (employees)
CURRENT ACCOUNT
PRODUCTS
Households
5
0
0
0
0
0
0
0
3 783
160 747
Nonfinancial corporations
6
0
0
0
0
0
0
0
103
17 331
Financial corporations
7
0
0
0
0
0
0
0
79
12 082
Government
NonProfitInstitutionsServing
Households(NPISH)
Total
8
0
0
0
0
0
0
0
615
58 407
9
0
0
0
0
0
0
0
1
3 363
0
0
0
0
0
0
0
4 581
251 931
Households
10
0
0
53
139
0
192
- 9 004
177
5 093
Nonfinancial corporations
11
0
0
0
795
0
795
11 407
924
22 029
Financial corporations
12
0
0
53
24
0
77
- 4 157
0
1 202
Government
NonProfitInstitutionsServing
Households(NPISH)
Total
13
3
95
28
0
2
129
17 135
1 118
6 687
14
0
0
0
344
0
344
840
14
844
3
95
135
1 301
2
1 536
16 222
2 232
35 856
15
0
0
0
0
0
0
36 659
37 209
73 868
16
- 2 179
2 122
3
315
8
268
20 987
5 093
22 029
1 202
6 687
844
35 856
73 868
CAPITAL ACCOUNT
INSTITUTIONS
PRODUCTION
Incomes (receipts)
REST OF THE
Total
FINANCIAL ACCOUNT
REST OF THE WORLD
TOTAL
Sources: Statistics Portugal (INE); Portuguese Central Bank (Banco de Portugal).
100 297
100 297
29
SOCIAL ACCOUNTING MATRICES FOR SUPPORTING POLICY DECISION PROCESSES.
Susana Santos
Thank you for your attention!
(ssantos@iseg.utl.pt)
XIV April International Academic Conference on Economic and Social Development
Moscow, Russia, April 2-5, 2013
30.