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Multicultural Economic Comparisons and Differences

In: Cultural Influences on Economic Analysis

Author

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  • Rongxing Guo

Abstract

A problem for multicultural economic comparisons for the period since World War II is that the world economy has been organized according to various different statistical systems. In many market economies, national income statistics have been compiled according to the United Nations’ System of National Accounts (SNA). As a key indicator derived from the SNA, gross national product (GNP) is the total value of the entire final products and services generated during a defined period of time. GNP is the sum of two components: gross domestic product (GDP) and net income from abroad. GDP measures the final output of goods and services produced by the domestic economy. Net income from abroad is income in the form of compensation of employees, interest on loans, profits and other factor payments that residents receive from abroad, less payments made for labour and capital. Most countries have estimated their GDP indicators by the production method. This method sums the final outputs of the various sectors of the economy (for example, agriculture, manufacturing and services), from which the value of the inputs to production has been subtracted.

Suggested Citation

  • Rongxing Guo, 2006. "Multicultural Economic Comparisons and Differences," Palgrave Macmillan Books, in: Cultural Influences on Economic Analysis, chapter 3, pages 39-58, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-20696-0_4
    DOI: 10.1057/9780230206960_4
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