[Blueboard] Reminder: ACERD Seminar: Avoiding Anomalies of GDP in Constant Prices by: Dr. Jesus Dumagan

Sairry R. Sandoval ssandoval at ateneo.edu
Tue Nov 25 10:01:15 PHT 2008


Date  : November 26, 2008
         Wednesday, 430-600PM

Place: Multi-Purpose Room 2 (SS 264), 2nd Flr., SocSci Bldg.

Avoiding Anomalies of GDP in Constant Prices by Conversion to Chained  
Prices:  Accentuating Shifts in Philippine Economic Transformation

By: Dr. Jesus Dumagan
    Visiting Senior Research Fellow, Philippine Institute for  
Development Studies

Abstract

Changing the base year (1985) of Philippine GDP in constant prices  
could change the growth rate and the shares of components even when  
there is no change in the volume of production, implying that the  
changes in growth rate and shares are anomalous (i.e., no real basis).  
This possibility weakens GDP in constant prices as basis for valuing  
our economy's production and analyzing its growth performance. This  
paper demonstrates that conversion to chained prices avoids the above  
anomalies and also shows smaller and shrinking agriculture and   
industry sectors and enlarging services sector that is now over 50  
percent of the Philippine economy than are shown by valuation in  
constant 1985 prices. In both contributions to level and growth of  
GDP, chained prices accentuate more than constant 1985 prices the  
declining importance of agriculture and industry and the rising  
importance of services in Philippine economic transformation.

Download the paper from:
http://publication.pids.gov.ph/pubdetails.phtml?code=DP%202008-24







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