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Data and definitions: Underestimating savings and investment in an open economy

Author

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  • Ashima Goyal

    (Indira Gandhi Institute of Development Research)

Abstract

This note clarifies definitions and derives from first principles the relationship between investment, domestic and foreign savings in order to show that there is underestimation of investment and foreign savings given conceptual macroeconomic definitions and Indian practice. Indian national accounts report and use gross domestic savings but the measure of capital inflows used with it is the one appropriate for gross national savings. The degree of underestimation is shown using recent data and implications drawn from the errors.

Suggested Citation

  • Ashima Goyal, 2007. "Data and definitions: Underestimating savings and investment in an open economy," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2007-015, Indira Gandhi Institute of Development Research, Mumbai, India.
    • Handle: RePEc:ind:igiwpp:2007-015
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    File URL: http://www.igidr.ac.in/pdf/publication/WP-2007-015.pdf
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    Cited by:

    1. Deepak Kumar Behera, 2016. "Measuring Socio-Economic Progress In India: Issues And Challenges," Revista Galega de Economía, University of Santiago de Compostela. Faculty of Economics and Business., vol. 25(2), pages 117-132.

    More about this item

    Keywords

    gross domestic and national savings; capital formation; national accounts;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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