Challenges of Globalization in the Measurement of National Accounts

Description

An essential collection at the intersection of globalization, production supply chains, corporate finance regulation, and economic measurement. The substantial increase in the complexity of global supply chains and other production arrangements over the past three decades has challenged some traditional measures of national income account aggregates and raised the potential for distortions in conventional calculations of GDP and productivity. This volume examines a variety of multinational business activities and assesses their impact on economic measurement. Several chapters consider how global supply chains complicate the interpretation of traditional trade statistics and how new measurement techniques can provide information about global production arrangements. Other chapters examine the role of intangible capital in global production, including the output of factoryless goods producers and the problems of measuring R&D in a globalized world. The studies in this volume also explore potential ways to enhance the quality of the national accounts by improving data collection and analysis and by updating the standards for measurement. Contents Prefatory Note Introduction and Overview I. Underlying Measurement Challenges 1. Addressing the Challenges of Globalization in National Accounts 2. Meaningful Information for Domestic Economies in the Light of Globalization 3. National Accounts for a Global Economy 4. Eliminating the Pass-Through 5. Multinational Profit Shifting and Measures throughout Economic Accounts 6. Strategic Movement of Intellectual Property within US Multinational Enterprises 7. The Relationship between Tax Payments and MNE’s Patenting Activities and Implications for Real Economic Activity II. Global Value Chains for Intermediate Products 8. Accounting Frameworks for Global Value Chains 9. Accounting for Firm Heterogeneity within US Industries 10. The Role of Exporters and Domestic Producers in GVCs 11. Measuring Bilateral Exports of Value Added III. Globally Intangible Capital 12. A Portrait of US Factoryless Goods Producers. 13. R&D Capitalization Where Did We Go Wrong? 14. Capturing International R&D Trade and Financing Flows Contributors Author Index Subject Index