Challenges of Globalization in the Measurement of National Accounts

The book "Global Production and Finance: New Measurement Challenges and Opportunities" is a collection of studies that examines the impact of multinational business activities on economic measurement, including global supply chains, intangible capital, and data collection and analysis. It highlights the need for new measurement techniques to improve the quality of national accounts and address distortions in conventional calculations of GDP and productivity.

Format: Hardback
Length: 512 pages
Publication date: 12 September 2023
Publisher: The University of Chicago Press

The significance of this collection lies in its exploration of the intricate intersection of globalization, production supply chains, corporate finance regulation, and economic measurement. Over the past three decades, a remarkable surge in the complexity of global supply chains and other production arrangements has posed significant challenges to traditional measures of national income account aggregates. This complexity has raised concerns about potential distortions in conventional calculations of GDP and productivity. To address these challenges, this volume delves into a diverse range of multinational business activities and assesses their profound impact on economic measurement.

In several chapters, the authors examine how global supply chains complicate the interpretation of traditional trade statistics. They explore the need for new measurement techniques to provide insights into the intricate global production arrangements. Moreover, the chapters delve into the role of intangible capital in global production, particularly in the context of factoryless goods producers and the challenges associated with measuring R&D in a globalized world.

The studies included in this volume also explore potential avenues to enhance the quality of national accounts by improving data collection and analysis methods. Additionally, the authors propose updating the standards for measurement to ensure more accurate and comprehensive representations of economic activities.

In conclusion, this collection serves as a valuable resource for scholars, policymakers, and practitioners seeking to understand the complex dynamics of globalization, production supply chains, corporate finance regulation, and economic measurement. By examining a wide range of multinational business activities and proposing innovative solutions, it contributes to our understanding of the challenges and opportunities facing the global economy in the 21st century.

Weight: 512g
Dimension: 229 x 152 x 43 (mm)
ISBN-13: 9780226825892