The issues of correct evaluation of economic growth

Abstract

The formation of a correct information base in the research on economic growth has been studied. Typical situations have been pointed out where the process of data collection and primary processing, provided the accuracy and comparability requirements are met, is the basis for reliable information. There has been stated a need for prior examination of the complex structure of a system, such as the economy of a state with a view to achieving its qualitative homogeneity. It has been shown that if the problem of data homogeneity is a prerequisite for correct analysis, the structure of a specific system determines the choice of the method of its typology. The relationship between the combination type and approaches to determining their homogeneity has been presented. The necessity for the use of the measurement system, depending on the source of information and the current trends for an adequate choice of data analysis methods has been shown. The list of factors affecting the accuracy of economic measurement has been determined. Based on the fact that the index is a quantitative and qualitative generalizing characteristics of any population property in a particular place and time, the interrelation of the characteristics of economic indicators has been considered in accordance with the causes and sources of accidental errors. The accuracy of the indicator measurement over a long period of time has been proved to be determined by the uniformity of the development periods. According to the author the inconsistency between the official figures may be caused by different calculation for the different forms of presentation. The dependence of the common problems of price and output measurement on the signs of their occasioning has been presented. Indices as a standard method of economic dynamics analysis have been studied and interrelation of selecting a comparison base and similar intervals of analysis of indices has been shown. The possibility of using linked indices in the analysis of economic dynamics has been examined.