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THE STATISTICAL MEASUREMENT OF SERVICES: RECENT ACHIEVEMENTS AND REMAINING CHALLENGES
Author(s) -
Cave William,
Giovannini Enrico
Publication year - 2007
Publication title -
metroeconomica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.256
H-Index - 29
eISSN - 1467-999X
pISSN - 0026-1386
DOI - 10.1111/j.1467-999x.2007.00279.x
Subject(s) - generality , work (physics) , service (business) , economics , developing country , business , industrial organization , macroeconomics , public economics , economic growth , economy , engineering , management , mechanical engineering
Services are increasingly important in the output of modern economies and are increasingly traded internationally. These patterns are observed in the generality of both ‘developed’ and ‘developing’ economies. This paper discusses the policy needs to understand the impact of services on the performance of modern economies, some measurement problems, and actions undertaken by international organisations to address these issues. It concludes that development work on services prices and volumes is fundamental to measurement of growth, and there is a need to engage more countries in the development of their service statistics with improved co‐ordination of technical assistance.