Session I: Quality Assessment of National Accounts Data
Session 1
Quality assessment of national accounts data
Workshop on national accounts for Asian member countries of the organization of Islamic Conference
Ankara, Turkey
1-2 December 2008 by
Devi Manraj
IMF Regional statistics advisor devimanraj@gmail.com
Good quality national accounts statistics
Importance of national accounts in the system of macroeconomic statistics
1993 SNA provides conceptual framework for all macroeconomic statistics
Balance of payments
Monetary and financial statistics
Government finance statistics
Timely, accurate and reliable statistics in line with the United
Nations Principles of official Statistics
High quality macroeconomic statistics to produce sound economic and monetary policies
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Why implement the 1993 SNA?
To use internationally accepted recommendations and standards
To ensure consistency among the macroeconomic statistics
To enable cross-country and inter-temporal comparisons using same concept of
Residency
Classification
Recording and valuation of stocks and flows
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What are the constraints to implement 1993 SNA?
Absence of a supportive legal framework
Lack of skill and expertise in national accounting
Inadequate financial and technical resources
Lack of self confidence in staff officers
Absence of leadership
4
What should be done?
Strengthen the legislation for NSOs to oversee and coordinate the national statistical system
Secure high level political commitment
Mobilize adequate human and financial resources
Request for technical assistance to improve methodology
Build self confidence of staff
Maintain trust and confidence in national accounts statistics
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What should be done ?
(continued)
Provide training and have a pool of trainers in national accounting methodology
Develop analytical skill of staff to interpret data
Encourage countries to join the Fund General Data
Dissemination System (GDDS)
Encourage GDDS members to subscribe to the Fund
Special Data Dissemination Standards (SDDS).
For National Accounts is GDP and so much more ….!!
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Assessment of quality of national accounts
All countries broadly follow the 1993 system of national accounts
For example, some countries :
Are still using the 1968 SNA terminology , not recording transactions at basic prices, not using international classification of activities and products
Do not regularly prepare GDP by the expenditure approach and do not use the Supply and Use Table framework
Do not have a data collection strategy- sample surveys/economic census/household expenditure survey/labur force survey
Do not have a systematic compilation/processing system
Do not document national accounting methodology
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IMF Framework for assessment of data quality
IMF’s Data Quality Assessment Framework
(DQAF) 2003,
To assess
Quality of the statistical institution
Quality of the process
Quality of the statistical product
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For more details …..
IMF’s Data Standards Bulletin Board (http://dsbb.imf.org/)
Focus: Dissemination of information describing a country’s current dissemination and compilation procedures for economic and social statistics and plans in place for their improvement.
IMF’s Reports on Observance of Standards and Codes
(http://www.imf.org/external/np/rosc/index.htm)
Focus: Broad assessment of the quality of statistics based on current dissemination and compilation procedures and plans for their improvement.
IMF’s Framework Data quality Assessment framework
(DQAF)at
http://dsbb.imf.org/dqrsindex.htm)
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