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In economics, commonly used GDP and GNI (gross national income, gross national Income) or common to measure the overall level of economic development in the region common indicators. This is currently often used in various countries and regions, the measurement means. GDP is among the most concerned about the economy macroeconomics microeconomics
statistics, because it is considered a measure of national economic development of the most important indicators. In general, there are three forms of gross domestic product, ie value, income, and products. The form of value, it is the production of all resident units during a given period the value of all goods and services over the same period investment in fixed assets of all non-difference between the value of goods and services that all resident units and the increase in value; from income The form of it is all the permanent units in certain period of time and income creation; the form of products, it is the end-use goods and services minus imports of goods and services. GDP reflects the economic value added of the sector total. For this understanding of the concept, should pay attention to the following questions: First, the GDP is measured in the final product, that the final product sold in the value of the final period. Generally based on the actual use of the product, the product can be divided into intermediate and final products. The so-called final product, is produced in a period of time for people to direct consumption or use of goods and services. This part of the product has reached the final stages of production, raw materials or semi-finished products can not be used as inputs in the production of other products and services to the process, such as consumer goods, capital goods and so on. Intermediate product is sold for further processing or for other kinds of products for the use of goods and services, such as raw materials, fuel and so on. GDP calculation of the final product must be current, intermediate products can not be included, otherwise it will result in double counting. Second, GDP is a concept of market value. A variety of end products in the market value is reached in the market value of the exchange are to be measured in monetary terms, reflected through the market exchange. The market value of a product to use this final product price multiplied by the yield obtained. Third, the GDP generally refers only to the market value resulting from the activity. Those non-productive activities and underground trading, black market transactions, which are not included in GDP, such as domestic work, self-sufficiency production, illegal gambling and drug transactions. Fourth, GDP is the calculation of the value of the final product produced during the period, which is the flow rather than stock. Fifth, GDP is not a real flow of wealth, it is only average with the standard currency expressed in how much wealth. But things can not be produced completely into the flow of wealth, this is not necessarily. Through the above analysis, we found that although there are many defects in GDP, but it does increase social wealth can be expressed, yet can not find a better alternative to the concept. The concept of GDP defects, we are not entirely helpless, GDP in the current based on the concept to make some amendments to make to perfect the concept of GDP. Let us call this the concept of the effective accumulation of GDP, it added two elements, one is valid, one is cumulative, it is calculated as total GDP that year, less an invalid, and the disappearance of GDP GDP, than the pure GDP to better reflect the concept of a place of abundance and growth rate levels. What is invalid GDP? What is the disappearance of GDP? Now are engaged in around the industrial park, province, county or township level have, to investment companies are staking their claims in the park, not after the completion of many plant production to idle up, some companies after they circle a piece of land overgrown with weeds, the investment in plant and although the wall produced the local GDP, but the people around are very distressed that this is a great waste. In essence, to GDP generated in this way is a valid form only has its GDP. A place subject to Bainianweiyu the flood, a large number of houses were destroyed, large tracts of crops flooded, the people shouted to anguished cry day. The following year, they bite the bullet and hold savings or debt or engage in supporting post-disaster reconstruction, construction and transportation industry, a thriving, this year GDP was 130% in previous years, but the hand, people feel their quality of life worse than the original by a mile . The reason is simple, floods destroyed the labor of many years, and the fruits of labor is the cumulative GDP in previous years, the GDP because of the flood was gone. If one side is the increase in GDP, while GDP, disappeared; or GDP continues to increase, but the increase is some invalid GDP, then GDP growth rate so high it also does not prove that increasing the wealth of society in the development of the economy, because only kept down and people need to GDP is the real wealth. The disappearance of a local emerging GDP is invalid or GDP, can only prove that we have done a lot of wasted effort or a problem with our current decision-making. Unfortunately, we live in an endless stream of examples of this are still abound. Almost all the cities in China are in massive construction projects, Main Road, Great Plaza Park after another, some schools spend tens of millions build a gate, and some cities in the suburbs have almost no night lights on the road, which goes far beyond the actual needs of the face works, is it not valid GDP? Urban planning in many parts of the flip-flop in the house is demolished the building, built demolition, and then demolished to build, demolition repeated many times at every time of the demolition process is not the loss of GDP is in the past? If you only use the concept of the effective cumulative GDP, we state a land of wealth has a degree of economic development will be able to make more accurate judgments, a cumulative total effective to GDP, the greater the value that the land Fang Yuefu there; then the more effective cumulative GDP more than that then the faster pace of economic development here! Therefore, enabling this concept it is very necessary and urgent, I hope the government and academia can adopt. By this analysis, we found that almost everyone knows the economics of a concept, in fact, bears a very deep sense of economics, and by the in-depth research and thorough understanding, not easy to understand the mystery, which is what we like reasons of economics, economics is also to be misunderstood by most people because of the abuse. Rank Country 2009 GDP growth rate of total 2009GDP
1United States United States 139 230 (million U.S. dollars) -2.4%
2Japan Japan 50 849 (474.924 trillion yen) -5.0%
3China (PRC) China 49090 (33.5353 trillion yuan) 8.7%
4Germany Germany 32 986 (€ 2,364,930,000,000) -5.0%
5France French 26429.5 (€ 1,894,859,000,000) -2.7%
6United Kingdom United Kingdom 21,512.9 (￡ 1,373,661,000,000 ) -4.8%
7Italy Italy 16960.768 (1.216 trillion euros) -5.0%
8Brazil Brazil 15568.7 (3.103 trillion reais) 0.7%
9Spain Spain, 14,661.27 (€ 1,051,151,000,000) -3.0%
10Canada Canada 13699.36 (1562412000000 Canadian dollars) -2.5%
11Russia Russian 12043.58 (38,258,710,000,000 rubles) -7.9%
12India India 11672.47 (56437327000000 Rs) 7.2%
13Australia Australia 9163.78 (1166458000000 AUD) -1.4%
14Mexico Mexico 8557.5 (11,550,347,000,000 pesos) -3.7%
15South Korea South Korea 8200 (1050000000000000 won) 0.2%
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an accounting method, using the expenditure approach GDP accounting method to account expenditure GDP, is the departure from the use of the product, the purchase of one year expenditure of the final product calculated by adding the total production of the year the market value of the final product. This method is also called the final product law, and product flow method. If Q1, Q2 … Qn behalf of all of the final product yield, P1, P2 … Pn represent the various final products, prices, GDP accounting by expenditure approach is used in the formula is: Q1P1 + Q2P2 + … QnPn = GDP in real life, The final use of goods and services, primarily household consumption, business investment, government purchases and exports. Thus, expenditure method of accounting GDP, is the account of a country or region in the period of time consumption, business investment, government purchases and net exports of total expenditure in these areas. 1. Household (indicated by the letter C), including the purchase of refrigerators, color TVs, washing machines, cars and other durable goods spending, clothing, food and other non-durable goods expenditures and for health care, tourism, hairdressing and other services expenditures. Residential construction expenditures are not consumption. 2. Business investment (with the letter I said that), is to increase or replace capital assets (including plant, machinery and equipment, residential and inventory) costs. Investment, including investment in fixed assets and inventory investment into two categories. Fixed 2. Assets that new office plants, buy new equipment, new residential construction investment. Why is investment in residential construction is not part of the consumer? Because housing is the same as any other fixed assets, long-term use, and slowly being consumed. Inventory investment is the company inventory control (or a stock) of the increase or decrease. If the beginning of the country was 200 billion U.S. dollars in business inventories and the end of 2200 billion U.S. dollars, while inventory investment is 200 million. Inventory investment may be positive, it could be negative, because the end of the year may be greater than inventory value may also be less than the beginning inventory. The reason is considered business inventory investment, because it can generate revenue. From the perspective of national economic statistics, produced but not sold the product can only be handled as a business inventory investment, so that statistics from the production point of GDP and GDP statistics from the expenditure point of view consistent. Included in GDP, investment is total investment, that investment and net investment reset and reset the investment that is depreciated. The division of investment and consumption is not absolute, depends on the specific classification provisions of the actual statistics. 3. Government purchases (represented by the letter G), is the purchase of goods and services at all levels of government expenditure, which includes government purchases of arms, military and police services, social welfare services
police, government agencies, office supplies and office facilities, organization of public works projects such as roads, establish schools and other spending. Government salaries paid to government employees belong to the government to buy. Government purchases is a substantial expenditure, showing the goods, services and two-way movement of money, direct the formation of social needs and become part of the gross domestic product. Government to buy only part of government spending, government spending, such as another part of government transfer payments, interest on public debt are not included in GDP. Government transfer payments this year, the government not to get the goods and services produced as a reward, including expenditure on social welfare, social security, unemployment, poverty benefits, old age security, health care, subsidies to agriculture and other aspects expenditure. Government transfer payments to government revenues through its functions in different transfer between members of the community and re-allocation of a portion of the income transfer to another part of the hands, its eshttp://www.bylkx.comsence is a redistribution of wealth. Occurs when a government transfer payments that the government pay these expenses, this is not what the corresponding goods and services, government transfer payments is a monetary expenditure, total revenue of society as a whole has not changed. Therefore, the government transfer payments are not included in the gross domestic product. 4. Net exports (XM said the letters, X, said exports, M imports that) is the difference between imports and exports. Imports subtract from their total purchase, because the revenue flow of foreign imports that, while not spending for the purchase of local products; export should be added to their total purchase volume, and because the export revenue from foreign countries that the inflow is expenditures for the purchase of domestic products, therefore, net exports should be included in the total expenditure. Net exports are likely to be positive, it could be negative. The above four projects add up, GDP is calculated using the formula spending: GDP = C + I + G + (XM) in our statistical practice, the expenditure is calculated as the gross domestic product by final consumption, capital formation Gross and net exports of goods and services total, which reflects current production and use of the gross domestic product and composition. Final consumption is classified into household consumption and government consumption. In addition to the consumer directly with money to buy consumption goods and services, but also includes other ways to obtain goods and services, consumer spending, the so-called virtual consumer spending. Jumin virtual consumption expenditure includes the following types: units to payment in kind and form of the transfer of goods and services to workers; financial institutions to provide financial intermediary services; insurance companies to provide insurance services. Calculated by expenditure approach GDP, we can calculate the consumption and investment rates. The so-called consumption rate is the ratio of GDP, final consumption, capital formation, the so-called investment rate is the ratio of total GDP. In accordance with the relevant statistics in recent years, China consumption rates have obvious downward trend, China consumption in 2005 was 52.1%, investment rate of 43.4%. Compared with the world level is significantly lower consumption rate in China. Therefore, the current and future period, an important element of macroeconomic regulation and control is to adjust the ratio between investment and consumption, expanding domestic demand, consumer demand is to expand the focus. Second, GDP by income method of accounting income method of accounting GDP, income is from the perspective of the production factors in the production of all income received in the calculated sum of GDP, that is the wage received by labor, land owners get rent, capital interest received and entrepreneurs to get the sum of profits calculated GDP. This method is also called the elements of payment method, elements of cost. In the absence of a simple economy, the government, enterprises and create added value that its GDP is equivalent to factor income plus depreciation, but after government intervention, the government often indirect taxes, when the GDP should also include indirect taxes and corporate transfer payments. Indirect taxes are taxes levied on product sales, which include excise taxes, turnover taxes. This tax is nominally levied the enterprise, but companies can put it into production costs among eventually be passed on to consumers, it should also be seen as a cost. Similarly, there are business transfer payments (ie, non-profit organizations, business and consumer bad debt charity donations), it is not to create an income of factors of production, but prices to consumers by, it should also be considered as cost . Capital depreciation should also be included in GDP. Although it is not because of its factor income, but included in the total investment. Also, the main income of unincorporated businesses should be included in GDP. Income of unincorporated business owners, is doctors, lawyers, small shops owners, farmers and other income. They use their own funds, self-employed, their wages, interest, rents, as difficult as the company accounts, into its own business to get their wages, interest on its own funds, own house rents, their wages, interest , profits, rents often mixed together as the main income of unincorporated businesses. Thus, the formula calculated by income is: GDP = Wages + rents + interest + profits + indirect taxes and business transfer payments + depreciation can also be seen as factors of production, GDP = income + income from non-factor theory, with GDP income approach calculated with the use of GDP calculated by expenditure approach is equal in quantity. Third, the production method of accounting used by the production method of accounting GDP GDP, is the provision of material goods and services by all departments to calculate the value of gross domestic product. Production method is also called the department of law. This calculation reflects the source of the gross domestic product. Using this method of calculation, the production departments should use the net value of intermediate products, only the calculation of the increase in value. Commercial and services sector by value-added method. Health, education, administration, family services and other departments can not calculate the value added to wage income to calculate the value of their services. Accounted for by the production approach GDP can be divided into the following sectors: agriculture, forestry fisheries; mining; construction industry; manufacturing; transport; Posts
utilities and mining; electricity, gas, water industry; wholesale, retail trade ; finance, insurance, real estate; services; government services and government enterprises. Production of the above departments the sum of GDP and then added to net income and foreign elements, consider the statistical error term, can be used to calculate the GDP by production approach. In theory, by expenditure approach, income approach and the production method of the GDP is equal in quantity, but the actual accounts often error, and thus to add a statistical error term to be adjusted to achieve the same. Actual statistics, the general expenditure to national economic accounting system as the basic method of law, that is calculated by the expenditure of the gross domestic product as the standard. Statistical practice in China, the income method to calculate GDP is divided into four: GDP = Compensation of Employees + net taxes on production + operating surplus + depreciation of fixed assets for the workers compensation first. Refers to workers engaged in production activities for the whole payment received. Workers earned in various forms, including salary, bonuses and allowances, both forms of currency, but also in kind; also includes workers enjoyed free medical service and medicine expenses, traffic unit to pay subsidies and social insurance. The second for the production of net taxes on production less subsidies on production refer to the balance. Production tax that the Government of the production unit production, marketing and business activities, and engage in productive activities due to the use of certain production factors (such as fixed assets, land, labor) levied various taxes, surcharges and fees. Production subsidies and production tax on the contrary, that the Government of the production units of the unilateral transfer of income is therefore regarded as negative taxes on production, including policy loss of subsidies, food price subsidies, foreign trade export tax rebates. The third for the depreciation of fixed assets refers to the period of time to compensate for loss of fixed assets, depreciation of fixed assets in accordance with the approved rate of depreciation of fixed assets extracted. It reflects the production of fixed assets in the current transfer value. Fourth for the operating surplus is the value added created by resident units less labor remuneration, net taxes on production and the depreciation of fixed assets balance. It is equivalent to the business profits plus subsidies on production. Fourth, two more than the national income accounting system introduced in the Western national income accounting system (referred to as SNA). The system is based on western economic theory that the creation of material products and services create value for the labor activities are production activities, gross domestic product (GDP) as the accounting of the core indicators of national economic activities. Western national income accounting system is adopted by most countries as a method of accounting of the national economy is a more reasonable and scientific accounting system. First, in the world economy, globalization, integration, marketing, information technology trends continue to strengthen today, information, knowledge, technology and services sector in the economic life of the increasing importance of the tertiary industry to create value in the modern economic life increasing proportion, and material production in the whole economic life has been the relative decline in status. Therefore, in the national income accounting system should be taken into account non-material production services to the market value of all paid services included in GDP is necessary. Secondly, when the SNA national income accounting to avoid double counting, the distinction between nominal GDP and real GDP, also has reasonable. Of course, such a system to GDP to measure the total output level of the national economy, measured by the degree of economic development, living standards measure is also flawed. For example, the non-market transactions (such as household activities, self-sufficient production) are not reflected, can not account for people enjoyment of leisure and security, can not reflect the extent of environmental pollution of a country, which also inevitably some double counting, etc. . In the 20th century, 90 years before the end of the Cold War, there is a national economic accounting system that is centrally planned economy countries in the material balance system (referred to as MPS), as the former Soviet Union, Eastern Europe and China are used. Reproduction of the system based on the theory of Marxism, the social output value and the total national income as reflected in the outcome of national economic activities, the basic indicators. This highly centralized accounting system and program management system to adapt, played an important role, but with the global market economy system reform and development, the Quexian become increasingly prominent. For example, it does not reflect the information, services and other non-material production sector development is not conducive to reasonably reflect the overall national strength and adjust the industrial structure; it can not reflect the social capital movement system is not conducive to the national macro-management and control; not reflect the whole picture of economic cycle the interface between the various aspects of the situation, the adverse possession of the State to run the economy the consolidated balance. Therefore, Eastern Europe, Russia and other economies in transition and western China have gradually adopted the System of National Accounts. China since 1985, official GDP indicators used for assessing national economic development and the development of key strategic objectives of economic development indicators. At present, China has been calculated and published GDP figures, but it has not calculated and published by net domestic product, national income, personal income and personal disposable income and other indicators of the figures.
GDP to determine
National Bureau of Statistics released GDP data calculated annually go through the following process: the initial estimation process, the process of preliminary verification and final verification process. Preliminary estimation process and the following year is usually in the beginning of the end of each year. Its annual GDP data are only a preliminary number, the data need to be sufficient to obtain more information to verify it. Preliminary verification process is generally in the following year second quarter. GDP preliminary verification of data obtained more accurate, but GDP accounting still lacks many of the important information needed, so the data still needs further verification. Final verification process is generally carried out in the fourth quarter of next year. At this time, GDP accounting needs and can collect various statistical information, accounting information and administrative data accounts are prepared. Compared with the previous step, it is the use of a more comprehensive and more detailed information, so the GDP data become more accurate. Ciwai, GDP data also need to go through a process of adjustment of historical data, that is, when found or generate new sources of information, the new classification, a more accurate accounting method or a more reasonable accounting principles, historical data should be adjusted so that the annual of GDP are comparable, it is international practice. If the United States in 1929 to 1999 carried out 11 times to adjust the historical data. In short, GDP released each time period has its specific meaning and a specific value, not because the data released at different times, different problems suspected statistics. Of course, my system in the calculation of GDP, also has some shortcomings, such as the origin of our long-term use of the former Soviet Union and Eastern European countries born in the statistical accounting system, from the actual situation, many places have developed behind the times. Notes: 1 some time this year emphasized that the “new” to increase the final product and the services provided in previous years are not counted. Such as used cars, second-hand housing is not so gross domestic product this year. 2, intermediate products can be considered as a raw material products, is used for the production of the final product, which means that during the year even after it is produced in the year to continue processing; if it is placed directly on the prices of goods sold and directly used by consumers to buy, that is another matter, is a special case, included in the total value, or can not be counted. 3, which is a flow concept, rather than a stock concept, is not this year, figures released from the founding to the present total, which is wrong, it refers only to the period of new production out of something. 4, means the market value of the currency as a unit to count with the formation of monetary aggregates, because too many types of goods, t, a, parts, sets, and so units can not increase the total, so with a currency unit for the year to statistics plus total. The unit of currency called the year is the year the price of these commodities.
indicators of a country GDP growth sharply, reflecting the country booming economy, national income increases, consumption also increases. In this case, the central bank will likely raise interest rates, tightening money supply, the state economy is doing well and interest rates rise will increase the attractiveness of the currency. Conversely, if a country negative growth in GDP, indicating the economy is in recession, the spending power reduced. At this time, the central bank may cut interest rates again to stimulate economic growth, falling interest rates coupled with weak economic performance, the attractiveness of the country currency also dropped. Therefore, in general, high economic growth rates will push up their currencies, and low economic growth rate will result in the currency exchange rate fell. For example, from 1995 – 1999, the United States the average annual growth rate of GDP of 4.1%, while the 11-nation euro zone, in addition to Ireland (9.0%) was higher, the French, German, Italian and other major countries, GDP growth was only 2.2 %, 1.5% and 1.2%, well below U.S. levels. This prompted the euro since January 1, 1999 inception, all the way down against the dollar, in less than two years, depreciated by 30%. But in fact, economic growth rate differences on the impact of exchange rate changes are manifold: First, a country of high economic growth rate, mean income, raise the level of domestic demand, will increase the country imports, leading to current account deficit This will lead to their exchange rates down. Second, if the country economy is export-oriented economic growth is to produce more exports, the export growth will make up for the increase in imports, slowing the downward pressure on their currency. Third, a country of high economic growth rate means that labor productivity quickly, cost reduction, thus improving the competitive position of domestic products and help increase exports and curb imports; and high rate of economic growth makes the country currency in the foreign exchange market was good, so the currency will rise. In the U.S., the GDP of the Ministry of Commerce statistics, estimation and statistical practice is a quarterly basis. Preliminary estimates released each time the data (the preliminary estimates), the amendments will be published twice (the first revision & the final revision), published in time for the major third week of each month. GDP is often used for comparison with the same period last year, if the increase represents the rapid economic, beneficial to the currency appreciation; such as the reduction, said the economic slowdown, the pressure to devalue its currency there. To the United States, gross domestic product growth of 3% can have is a satisfactory level of economic development that is healthy, higher than the level of inflationary pressure indicated; less than 1.5% growth, to show the economic slowdown and into recession.
data growth theory since the concept of GDP is derived from the principle of exchange to generate wealth, then we in the pursuit of GDP, it must meet the basic conditions for this principle. The principle of the basic conditions: First, the exchange must be voluntary, and second, the exchange must be without prejudice to a third person, third, the exchange must be between two clear property rights actually occurred. Assumptions do not meet these three conditions, then the resulting GDP number would have compromised the accuracy of fear, or GDP, data would have flaws. Such as mandatory trade GDP, hinder other people GDP, exports and create the GDP, investments in GDP, consumption, etc. will affect the GDP brings the total GDP, the effective accumulation.