Consistency in a Globalised Economy: Aligning the Treatment of R&D in the Irish National Accounts and Balance of Payments

Niamh Holton, Margaret Kinsella, Oisín Mangan, Shaun McLaughlin and Patrick Quill

Economie et Statistique / Economics and Statistics, 2020, issue 517-518-519, 191-204

Abstract: [eng] Increasing globalisation of the world’s business economy presents challenges to compilers of official statistics when producing consistent economic accounts. This paper examines two inconsistencies between national accounts and balance of payments – firstly, in the measurement of depreciation of intellectual property products, and secondly, in the recording of expenditure on research and development (R&D) services. These inconsistencies can lead to sizeable discrepancies in net factor flows in the national accounts. Business data collected by the Central Statistics Office in Ireland is used to measure the divergence between the balance of payments and national accounts. The findings suggest that it is necessary to adjust the balance of payments data related to intellectual property products and R&D services to ensure consistency with national accounting methodology.

JEL-codes: F23 F62 O34 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:nse:ecosta:ecostat_2020_517t_12

DOI: 10.24187/ecostat.2020.517t.2025

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