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Transforming Qualitative Survey Data: Performance Comparisons for the UK *
Author(s) -
Driver Ciaran,
Urga Giovanni
Publication year - 2004
Publication title -
oxford bulletin of economics and statistics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.131
H-Index - 73
eISSN - 1468-0084
pISSN - 0305-9049
DOI - 10.1111/j.1468-0084.2004.00070.x
Subject(s) - statistic , investment (military) , qualitative property , survey data collection , economics , balance (ability) , econometrics , business , statistics , mathematics , political science , politics , law , medicine , physical medicine and rehabilitation
This paper assesses different ways of converting qualitative data obtained in surveys into quantitative indices for a number of economic variables. The research reported here focuses on the main UK employers’ business survey for manufacturing – the CBI industrial trends survey. Six response variables are investigated – plant and machinery investment, output, employment, exports, price and cost. We find that the balance statistic is a satisfactory method of transforming three of the variables: investment, output and exports.