Post on 12-Jan-2016
transcript
Updating the 1993 SNA
Anne Harrison
Editor of the update
Anne.harrison@oecd.org
Overview only
• Full documentation on UN web site
• http://unstats.un.org/unsd/nationalaccount/snarev1.asp
Recommendations
• Topic-specific expert groups
• 44 issues
• AEG has had four meetings
• Full list of provisional recommendations
And..
• Clarifications
• Consistency issues
Pensions
• Funded pension schemes• Show liabilities of schemes (not just
assets)• Contributions of employer and employee
represent pension entitlement earned in a year
• For defined benefit schemes, property income represents increase in past pension entitlement during the year
Problem area
• Unfunded schemes of government
• Difficulty of separating from social security
• May go with supplementary table to permit some latitude in application of recommendations
Non-financial assets
• R&D – Frascati data to be treated as fixed capital
• Capital services
• Contracts, leases and licences
• Intangible assets – capture of ”excess profits” from imperfect market brought about by restrictions
Financial services
• FISIM – withdraw option not to allocate
• Use a reference rate
• Allow service on lending of own funds including money lenders
• Buy/sell margins on dealing in securities and equities
Insurance
• Use expected claims not actual and smooth premium supplements also
• Have a link to monetary and financial statistics
Government
• New chapter on government and public sectors
• Delineation of units under control of govt
• Greater precision on ”economically significant prices”
• Guarantees
• PPP
Rest of the world
• Goods for processing – goods enter and then leave country without changing ownership
• Change to follow strictly change of ownership principle ie no imports and exports recorded for original value, difference is shown as processing fee
• Apply to inter-establishment deliveries only
Merchanting
• Goods bought and then sold without physically entering the country
• Show as negative exports and then positive exports (at a higher value)
• Parallel with domestic wholesale and retail
• May have inventories held in ROW
Units
• Units with no physcial presence or employees
• Government SPVs
• Holding companies
Developing country concerns
• Globalisation
• Informal economy
• Migrant workers and international remittances
• NPIs and their role in international relief efforts
• Debt concessionality and restructuring
1993 SNA Rev1
Will I recognise the book?
Part 1 Introduction and overviewPart 2 Accounting conventions
• 1 Introduction
• 2 Overview
• 3 Flows, stocks and accounting rules
• 4 Institutional units and sectors
• 5 Establishments and industries
Part 3 The sequence of accounts
• 6 The production account
• 7 The distribution of primary income account
• 8 The secondary distribution of income account
• 9 The use of income account
Part 3 cont
• 10 The capital account
• 11 The financial account
• 12 Other changes in assets accounts
• 13 The balance sheet
Part 4: Integration and elaboration of the accounts
• 14 Typical summary presentations
• 15 Supply and use tables and input-output
• 16 Prices and volumes measures
• 17 The role of capital services in the accounts
• 18 Cross-cutting and other special issues
Part 5: Interpretation of the accounts and extensions
• 19 Measuring corporate activity
• 20 The government and public sectors
• 21 Non-profit institutions in the System
• 22 Households
• 23 The informal sector
• 24 The rest of the world account (external transactions account)
Part 5 cont
• 25 The link to financial and monetary statistics
• 26 Population and labour inputs
• 27 Satellite accounts and other extensions of the System
• Annex 1: Classifications
• Annex2: Accounts
Electronic annexes
• Multiple exchange rates
• PPPs
• Changes since 1993
• ?Input-output