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Wanted: Measures of Economic Change

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  • Ralph Turvey

Abstract

Economic growth may involve change, but there can be change without economic growth insofar as outputs of some products or employment in some regions or industries grows while there are equal decreases elsewhere. National accounts data do not reveal such shifts, yet they may involve investment and disinvestment, require the acquisition of new skills and cause changes in the location of economic activities. Some simple examples are provided, demonstrating that the rate of growth and the pace of change are by no means perfectly correlated. Hence separate measures of change are required if we are to understand what is happening in the economy.

Suggested Citation

  • Ralph Turvey, 2001. "Wanted: Measures of Economic Change," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 2(2), pages 191-196, April.
  • Handle: RePEc:wej:wldecn:62
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    File URL: https://www.worldeconomics.com/Journal/Papers/Article.details?ID=62
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    Cited by:

    1. David Pearce & Charles Palmer, 2001. "Public and private spending for environmental protection: a cross-country policy analysis," Fiscal Studies, Institute for Fiscal Studies, vol. 22(4), pages 403-456, December.

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