Open AccessIntegrated System of National Accounts for Pakistan: Concepts, Sources and Methods in Brief
Author(s) -
Ivo Havinga,
W. A. Van Den Andel
Publication year - 1991
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v30i4iipp.799-818
Subject(s) - national accounts , flow of funds , consistency (knowledge bases) , production (economics) , function (biology) , national income and product accounts , economic sector , economics , national economy , gross fixed capital formation , economic statistics , set (abstract data type) , value (mathematics) , consumption (sociology) , economy , macroeconomics , computer science , economic system , statistics , econometrics , mathematics , gross domestic product , evolutionary biology , artificial intelligence , biology , programming language , social science , sociology
The function of the national accounts is to provide aninterrelated and consistent set of economic statistics of thetransactors in the economy. Those statistics relate to the circular flowin the economy of production, consumption and accumulation. They areused to assess the performance of the economy and should facilitate theapplication of economic theory. In Pakistan, a systematic design of thesystem of national·accounts has been lacking. Basically, the system islimited to macro economic production statistics on value-ad~ed bysectors and expenditure series. Moreover, the present system lacksinternal consistency checks. Discrepancies cannot be assessed due to theexistence of residual sectors. As a result, the national accounls havenot been exploited in their function for the evaluation of theperformance of the economy. During the mid-1980s, a comprehensive reviewof the system was made to improve the national accounts. Therecommendations which were formulated after the review stated that: Thesystem should be rebased from 1959-60 to 1980-81; The system should beextended to include input-output tables, flow-of-funds and institutionalsector accounts; and The system should adopt the integrated nationalaccounts concepts.