Mismeasuring long-run growth: The bias from spliced national accounts

Leandro Prados de la Escosura 27 September 2014

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In April it was made public that Nigeria’s GDP figures for 2013 had been revised upwards by 89%, as the base year for its calculation was brought forward from 1990 to 2010 (Financial Times, 7 April 2014). As a result, Nigeria became the largest economy in sub-Saharan Africa. Though spectacular, this is not an exceptional case. Ghana (2010), Argentina (1993), and Italy (1987) also experienced dramatic upward revisions of their GDP. How should this revision affect GDP time series and, consequently, the country’s relative position?

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Topics:  Development Economic history

Tags:  GDP, GDP measurement, national accounts, statistics, measurement, measurement error, data

More to do on measuring hunger

Joachim De Weerdt, Kathleen Beegle, Jed Friedman, John Gibson 18 February 2014

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One of the first Millennium Development Goals is to reduce hunger by half between 1990 and 2015. To date, the global hunger count has fallen slightly, from 1 billion in 1990–1992 to 870 million in 2010–2012 (Food and Agriculture Organization 2013). As a proportion of the world’s population, this is just a one-third fall in the hunger rate, from 19% to 13%. In contrast, the other highly visible Millennium Development Goal – reducing extreme poverty by half – was achieved by 2010.

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Topics:  Poverty and income inequality

Tags:  development, Africa, Poverty, Millennium Development Goals, food, hunger, measurement error, surveys, Tanzania