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Topic: Growth accounting

Related Topics

Economic growth

Endogenous growth theory

Productivism

Economics

World3

Human development theory

World3 nonrenewable resource sector

Uneconomic growth

Real GDP

Full cost accounting

Consumer theory

Limits to Growth

Creative accounting

Microeconomics

Economy of New Zealand

	Intangible Capital and Economic Growth
		In Intangible Capital and Economic Growth (NBER Working Paper No. 11948), authors Carol Corrado, Charles Hulten, and Daniel Sichel find that the rapid expansion and application of technological knowledge in its many forms (including R and D, brand equity, and human competency) is a key feature of recent U.S. economic growth.
		Accounting practice traditionally excludes investment in intangible knowledge capital, thus excluding, according to the authors' estimates, approximately $1 trillion from the conventionally measured output of the non-farm business sector by the late 1990s, and understating the business capital stock by $3.6 trillion.
		It is also worth noting that the fraction of output growth per hour attributable to the old "bricks and mortar" forms of capital investment is very small, accounting for less that 8 percent of total growth in the period 1995-2003.
	www.nber.org /digest/sep06/w11948.html (696 words)

	Factor Contributions to East Asian Growth (Site not responding. Last check: 2007-11-03)
		In terms of output growth per worker, growth in the high performance East Asian economies is about the same magnitude as growth in Greece, Syria, and Cameroon, and signficantly closer to the center of the cross-country distribution of growth rates.
		A simple approach to accounting for the effect of the growth in capital inputs on output growth is to assume that a 10% increase in capital inputs per worker produces a 4% increase in output per worker.
		The contribution of technical progress to output growth in the high performance East Asian economies is small relative to the contribution of increases in capital and labor inputs.
	www.galbithink.org /topics/ea/account.htm (522 words)

	Intermediate Macroeconomics - Long-Run Economic Growth
		The growth rate of total labor is therefore a weighted average of the growth rates of each type of worker where the weight assigned to a type of worker is its share of total labor compensation.
		Growth models do not assume households have more or fewer children as a country becomes poorer or wealthier (although the rate of population increase is generally lower in wealthier nations).
		Because growth in output and the standard of living is a function of the savings rate and human capital, the endogenous growth model provides a role for government policy that was absent in the neoclassical model.
	mason.gmu.edu /~tlidderd/311/ch3Lect.html (8786 words)

	The causes of economic growth
		Growth accounting shows that to attain faster economic growth requires increasing the growth rate of capital per hour of work or increasing the growth rate of technological advance.
		The classical growth theory is based on the idea that income per person (per capita income) determines the rate of population growth.
		The new growth theory emphasizes the role of technological change, stresses that the rate of technological change depends on people’s choices, and holds that the ability to replicate activities is the key to economic growth.
	www.emu.edu.tr /~vyorucu/econ102/CH27.htm (1087 words)

	Asian Development Outlook 2005 - Export or Domestic Demand-Led Growth in Developing Asia? - Summary and conclusions - ...
		Growth of successful countries such as the PRC, and to a lesser extent India, is based on a combination of both domestic demand components--especially GDCF--and exports.
		This is reflected in the frequently discussed roots of the Asian crisis: currency overvaluation as well as overlending or overborrowing--spurred by inflows of short-term speculative capital--that brought high growth to the domestic and nontradable sectors, and deterioration in the net export positions.
		The second requires twin growth in the domestic demand and tradable sectors inasmuch as a high level of this infrastructure building will be part of domestic demand.
	www.adb.org /Documents/Books/ADO/2005/part010207.asp (979 words)

	Economic growth - Wikipedia, the free encyclopedia
		During much of the "Mercantilist" period, growth was seen as involving an increase in the total amount of specie, that is circulating medium such as silver and gold, under the control of the state.
		The modern conception of economic growth began with the critique of Mercantilism, especially by the physiocrats and with the Scottish Enlightenment thinkers such as David Hume and Adam Smith, and the foundation of the discipline of modern political economy.
		The long-run path of economic growth is one of the central questions of economics; in spite of the problems of measurement, an increase in GDP of a country is generally taken as an increase in the standard of living of its inhabitants.
	en.wikipedia.org /wiki/Economic_growth (2356 words)

	INFORMATION TECHNOLOGY AND THE NEW ECONOMY
		Despite its limitations, growth accounting is a useful framework and remains the starting point for the analysis of economic growth.
		In growth accounting terms, this contribution should appear as an increase in the TFP of IT-producing industries.
		Growth accounting exercises can produce different results for the same period because there are several choices to be made as to how to measure the aggregate flow of capital and labor services.
	www.house.gov /jec/growth/it.htm (3856 words)

	Growth accounting - Wikipedia, the free encyclopedia
		Growth accounting is a set of theories used in economics to explain economic growth.
		The total national income in an economy may be modelled as being explained by various factors.
		Here, an increase in national income must be explained by an increase in the capital available (K), an increase in the labour force (L), or an improvement in the technology used (A).
	en.wikipedia.org /wiki/Growth_accounting (270 words)

	Accounting for Growth
		Perhaps because we are now in the longest growth cycle in 30 years of U. history, there is an increased interest in how we ensure that quality of life is increasing along with the level of GDP.
		While the questions economists and policymakers were asking sixty years ago shaped the way the national income accounts were formed, the shape the accounts took profoundly influenced the questions economists and policymakers have asked during the last fifty years.
		The irony is that economic growth and the larger world population and use of resources per capita have forced the realization that natural resources are finite.
	web.uccs.edu /ccps/wpaccounting.htm (2540 words)

	The Myth of Asia's Miracle
		While the growth of communist economics was the subject of innumerable alarmist books and polemical articles in the 1950s, Some economists who looked seriously at the roots of that growth were putting together a picture that differed substantially from most popular assumptions.
		Economic growth that is based on expansion of inputs, rather than on growth in output per unit of input, is inevitably subject to diminishing returns.
		Once one accounts for the role of rapidly growing inputs in these countries' growth, one finds little left to explain, Asian growth, like that of the Soviet Union in its high-growth era, seems to be driven by extraordinary growth in inputs like labor and capital rather than by gains in efficiency.
	web.mit.edu /krugman/www/myth.html (4717 words)

	Asian Development Outlook 2005 - Export or Domestic Demand-Led Growth in Developing Asia? - Introduction - ADB.org
		Growth accounting apportions overall GDP growth to the contribution of each component of demand.
		Thus, overall growth of output is the sum of the growth rate of each component multiplied by its share in GDP.
		This was the result of currency overvaluations, overborrowing and overlending in the domestic private sector, and rise of speculative bubbles that most economists agree triggered the loss of confidence, substantial currency depreciation, and capital flight during the crisis.
	www.adb.org /Documents/books/ADO/2005/part010201.asp (2268 words)

	Public Policy Sources #37: Growth accounting: determining sources of economic growth
		Hence, equation (3) says that the growth rate of output is equal to the growth rate of total factor productivity plus a weighted sum of the growth rate of the capital stock and the growth rate of the stock of labour.
		Often one is interested in accounting for the growth rate in per-capita output rather than the growth rate of total output.
		Notice, however, that the impact of the growth rate of capital per worker on the growth rate of output per worker is scaled down by x, capital's share of total output.
	oldfraser.lexi.net /publications/pps/37/section_03.html (2110 words)

	Growth Accounting with Technological Revolutions.(Statistical Data Included) - Economic Quarterly - HighBeam Research (Site not responding. Last check: 2007-11-03)
		Panel f shows that the effects of the lower output growth are quite substantial in the sense that another 15 years have to pass before the level of output catches up with the initial balanced growth path.
		As we can see, the maximal reduction in measured TFP growth is now only 0.04 percentage points, as opposed to 1 percentage point previously, and there is almost no decline in output growth; the maximal increase corresponds to the balanced growth increase of about 0.5 percentage points.
		Part of the measurement problem is accounting for changes in the quality of producer-durable goods, but for this part I have taken the view that Gordon's (1990) price index does account for most of the quality changes that occur for producer-durable goods.
	www.highbeam.com /doc/1G1-58499947.html (6109 words)

	Cabrillo College Accounting Home
		The accounting program is designed to provide students with skills and knowledge required for entry-level positions in industry, government, financial institutions, and small businesses.
		Employment opportunities in accounting are plentiful, and are expectd to continue to grow in the foreseeable future.
		The prediction of job growth for accountants and auditors (OES Code 21114) is from 410 to 450 positions from 1999 to 2006, a growth rate of 9.8%.
	www.cabrillo.edu /academics/accounting (289 words)

	Growth (Site not responding. Last check: 2007-11-03)
		Of the three sources of growth identified by growth accounting, which one is primarily responsible for the slowdown in the U.S. economic growth after 1973?
		Growth Accounting: Measuring the relative importance of the different factors of growth.
		The economic growth model also assumes that the population of working age is fixed may not be true as the population grows
	www.mnstate.edu /stutes/Econ204/Homework/growth.htm (1026 words)

	Growth Facts II
		In the United States, growth in output per worker has been faster than what one have predicted based on the increase in the capital-labor ratio.
		Growth in output per worker is explained as a weighted average of the growth in capital per worker and growth in the efficiency of labor.
		The efficiency of labor is constructed indirectly, based on the residual that results from trying explain differences in output per worker on the basis of differences in the capital-labor ratio.
	arnoldkling.com /econ/growthacct.html (993 words)

	OECD Science, Technology and Industry Scoreboard 2003 - Towards a knowledge-based economy (Site not responding. Last check: 2007-11-03)
		In several countries, ICT accounts for the bulk of capital‘s contribution to GDP growth.
		Growth accounting involves breaking down growth of GDP into the contributions of labour input, capital input and multi-factor productivity.
		The rate of growth of output is a weighted average of the rates of growth of the various inputs and of the multi-factor productivity term.
	www1.oecd.org /publications/e-book/92-2003-04-1-7294/D.4.htm (439 words)

	Home
		Most business owners know, the growth of a business is only possible if the basic business structure and good bookkeeping proceedures are already in place.
		Donna Cox enjoyed a career in accounting until she began her career as a wife and mother.
		Donna and her staff, offer comprehensive accounting services, and pride themselves on accurate results.
	inbalanceaccounting.com /index.html (144 words)

	SSRN-Growth and Accounting Choice by Ilia Dichev, Feng Li
		Since growth captures the ability to increase income, holding other factors constant, a ranking on growth provides a clean ranking on the incentives to use income-increasing choices.
		Thus, a ranking on growth can be used as a powerful lens that summarizes the economic importance of many disparate accounting theories and settings of aggressive choice.
		Second, changes in accounting choice are rare, which implies that accounting choice looks like a blunt and unwieldy instrument to achieve aggressive accounting objectives.
	papers.ssrn.com /sol3/papers.cfm?abstract_id=918478 (519 words)

	Growth annuity: elixir of sustainable growth? \| Accounting from AllBusiness.com (Site not responding. Last check: 2007-11-03)
		This paper shows that growth annuity payment plans akin to graduated mortgage payments reduce the overall lending risk by alleviating the borrower's life-time likelihood of default particularly during the early years of the mortgage.
		This paper then argues that such lending practices not only reduces the overall default risk in the economy but also provides an alternative growth mechanism which is appealing to a much wider demography than traditional mortgage loans.
		The inherent dilemma is thus produced by two conflicting factors: while the real estate growth requires more than median worth investors, the ongoing fiscal and economic health of the state demands growing tax revenues.
	www.allbusiness.com /accounting/752281-1.html (773 words)

	August Economic Trends: Growth Accounting (Site not responding. Last check: 2007-11-03)
		Economists often identify three broad sources of economic growth: expansion of the capital stock (investment), increases in the available workforce (labor hours), and improvements in total factor productivity.
		Changes in this last component capture the effects on economic growth of such intangibles as advances in education and technology, which enhance the ability of capital and labor to produce goods and services.
		Overall growth in labor hours has held fairly steady, despite the erratic behavior of many of its underlying components.
	www.clevelandfed.org /research/Et96/0896/groact.htm (215 words)

	Theories of Economic Growth (Site not responding. Last check: 2007-11-03)
		In separate ways growth models can be adapted to deal with two kinds of technology diffusion, that among countries and that within countries.
		Growth models are adapted for this purpose by introducing definitions and properties of technological growth (costs, product variability, follower-imitator, RandD, etc.).
		The basic growth model can be adapted by including transaction cost and transport costs to provide a simple explanation of spatial change and location during economic growth.
	www.ceu.hu /econ/economic/growth.htm (569 words)

	Heald College Accounting Program - Associate Degree Education and Career Placement
		Accounting is the perfect program for people who like to work with numbers.
		Since today's accounting professionals play a pivotal role in a company's performance, people with a background in accounting are in demand.
		In smaller organizations, the accounting staff handles all aspects of financial management, whereas accounting professionals in larger offices are more specialized.
	www.heald.edu /programs/accounting.htm (390 words)

	SSRN-Growth Accounting and Growth Processes by Jahangir Aziz
		The standard growth accounting framework, which weights various inputs by their factor shares to measure their contributions to output growth, is known to underestimate the contribution of inputs in the presence of externalities and increasing returns.
		The standard growth accounting framework fails to distinguish between these contrasting development processes.
		This failure thus reveals another limitation to the use of growth accounting in identifying the processes of economic developments.
	papers.ssrn.com /sol3/papers.cfm?abstract_id=883012 (245 words)

	Industry Growth Accounting Database
		A detailed calculation example of the contribution of labour and capital to aggregate growth is given in a separate example-file.
		The 2006 version of the Industry Growth accounting database is an extended, updated and improved version of the database published in 2003.
		The 2003 database has been originally devised for a study developed by the Groningen Growth and Development Centre and the National Institute for Economic and Social Research, which was was commissioned by the European Commission, DG Enterprise.
	www.ggdc.net /dseries/Iga.shtml (360 words)

	Growth Accounting for a Follower-Economy in a World of Ideas: The Example of Singapore
		Taking into account the channels through which technology developed in the G5 countries diffuses to technological followers, we show that 57.5 percent of Singapore’s real GDP per worker growth rate over the 1970-2002 period is due to multifactor productivity growth.
		In particular, about 52 percent of the growth is accounted for by an increase in the effectiveness of accessing ideas developed by the technology leaders through improvement in our educational quality and increase in machinery imports and foreign direct investment from the G5 countries.
		Compared to the rate of return to capital inferred from the traditional Solow growth model with purely exogenous technological progress of 10.8 percent, taking into account the technology transfer channel raises the implied rate of return to 13 percent.
	ideas.repec.org /p/siu/wpaper/15-2006.html (473 words)

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