Transcript 슬라이드 1
OECD Working Party on National Accounts 1 ~ 3 December 2010, Paris, France Min Woo KIM National Income Statistics & Coordination Team National Accounts Office Economic Statistics Department The Bank of Korea Phase Milestones Pre SNA Basic data on production, prices, consumption, trade, etc. Phase 1 GDP by industry and expenditure at current and constant prices Phase 2 Phase 1 plus External transactions and aggregates: GNI, GDI, savings, and etc. Phase 3 Phase 2 plus Production account for all institutional sectors and Government integrated account Phase 4 Phase 3 plus integrated accounts for all institutional sectors until capital accounts Phase 5 Phase 4 plus financial accounts for all institutional sectors Phase 6 Phase 5 plus Other changes in assets accounts and Balance sheet for all institutional sectors Implementation 1995 2000 2009 (Test Compilation Completed) Items Production 1993 SNA recommendation Inclusion of illegal activities Status of implementation Implemented ○ (but not specified) Expenditure Production of goods within households for own Consumption ○ Output and value added to be valued at basic, producers’ and purchasers’ prices ○ Premium supplements to be included in the output of insurance ○ Distribution of FISIM to industry and final users ○ Classification of expenditures into COFOG, COICOP, COPP and COPNI ○ Partly implemented Not yet implemented Items Institutional sector classification and sequence of accounts 1993 SNA recommendation Status of implementation Implemented Sequence of Accounts have to be compiled for five broad institutional sectors. ○ Commodity flow and balances - Supply and use table, I/O Table ○ Production account – Uses and resources of GDP by institutions/activity ○ Income and appropriation account – Distribution of national income by institution and its appropriation ○ Accumulation account – Capital account, financial account, other changes in volume of assets account, revaluation account Balance sheets – To be compiled as part of integrated set of accounts ○ (Test Compilation Completed) ○ (Test Compilation Completed) Partly implemented Not yet implemented Items Economic assets 1993 SNA recommendation Status of implementation Implemented Entire expenditure on mineral exploration to be treated as capital formation ○ Expenditure on software ○ Government defence expenditure on fixed assets other than weapons and their means of delivery ○ Valuables ○ Entertainment, literary or artistic originals Partly implemented Not yet implemented ○ (lack of data sources) Prices and volume measures Charging CFC on government fixed assets including roads and bridges ○ Estimates at constant prices for full system of national accounts ○ Chain volume measures ○ Items Time of recording Satellite accounts Others 1993 SNA recommendation Status of implementation Implemented Cultivated natural growth of crops to be included in output as work in progress or gross fixed capital formation over the entire period of the growth process. ○ Livestock raised for food are to be treated as work-in-progress until slaughtered. Furthermore, entries are to be recorded for own account production as the animal grows. ○ The speculative construction to be shown as part of inventories until the ownership has been transferred to the eventual user of the asset. Hence it should not be treated as gross fixed capital formation until that time. Output remains part of the work in progress of the institutional unit producing the asset until sold. ○ All transactions to be recorded on an accrual basis in order to reflect the time when the transactions occurred rather than when it may be paid for. ○ Partly implemented ○ Natural resources accounting (not needed in Korea) ○ Tourism accounts (several studies completed) Social accounting matrix (several studies completed) The return to labour and capital for unincorporated enterprises owned by households to be termed as ‘mixed income’. No statistical discrepancy; emphasis on classification, simplification and harmonisation Not yet implemented ○ ○ ○ Element 0. Prerequisites of quality 0.1 Legal and institutional environment 0.2 Resources 0.3 Relevance 0.4 Other quality management 1. Assurances of integrity 1.1 Professionalism 1.2 Transparency 1.3 Ethical standards 2. Methodological soundness 2.1 Concepts and definitions 2.2 Scope 2.3 Classification/sectorization 2.4 Basis for recording 3. Accuracy and reliability 3.1 Source data 3.2 Assessment of source data 3.3 Statistical techniques 3.4 Assessment and validation of intermediate data and statistical outputs 3.5 Revision studies 4. Serviceability 4.1 Periodicity and timeliness 4.2 Consistency 4.3 Revision policy and practice 5. Accessibility 5.1 Data accessibility 5.2 Metadata accessibility 5.3 Assistance to users Assessment Observed Largely Observed Comments ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ㅇ No specific estimates for the non-observed economy. → Not large in Korea. ㅇ Use the Denton method for benchmarking. ㅇ Periodically undertake revisions analyses of the type conducted in 2006. → Recommendations fully accepted. ○ ○ ○ ○ ○ ○ ㅇ BOK's online database requires the installation of software that may create computer security concerns for the users outside Korea. • Translation of 2008 SNA Manual(Done) • Rearrangement of internal organization • Priority setup: Main changes for Korean economy • Seminars and workshops • Research, test compilation, and comparison • Backcasting National Account Office * To-be organization set up in 2011 National Income Statistics and Coordination Team National Expenditure Statistics Team Monetary & Financial Statistics Team Balance of Payment Statistics Team Statistics Planning Team Input-Output StatisticsTeam Flow of Funds Team International Investment Position Team Statistics Development Team National Balance Sheet Team Corporate Statistics Team Foreign Exchange Analysis Team Economic Survey Team Price Statistics Team 2009 2010 2011 Setting up International Translation Organization, Seminar of Budget, on Manual and Priority 2008 SNA 2012 Research & Test Compilation 2013 2014 Backcasting Compilation based on 2008 SNA and Publication • Research and developments • Military expenditures • Entertainment, literary or artistic originals • Consumption of fixed capital • Financial intermediary services indirectly measured(FISIM) • Goods for processing and merchanting • Financial services and other issues 2010 R&D 2011 Research 2013 Test compilation 2014 implementing Backcasting Research Military Test compilation Backcasting Research Originals Test compilation Backcasting Research FISIM Int. trade 2012 Test compilation Backcasting Research Test compilation Backcasting 2 S 0 N 0 A 8 • Research papers on the changes from 1993 SNA to 2008 SNA prior to application • Publication of 『Korean System of National Accounts 2014』 and 『Comparison Table』 • Open lectures and seminars with policymakers, academia, journals, and the general public • Simultaneous compilation of National Accounts based on 1993 and 2008 SNA, if needed • Implementation assessment with the international organizations