Sustaining Growth and Performance in East Asia
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Sustaining Growth and Performance in East Asia

The Role of Small and Medium Sized Enterprises

Edited by Charles Harvie and Boon-Chye Lee

This third book in the series focuses on how small and medium sized enterprises (SMEs) contribute to achieving and sustaining growth and performance in their economies, as well as the ways in which governments can assist and enhance that contribution. This is of particular concern given the trauma suffered by East Asian economies in the wake of the financial and economic crisis of 1997–98.
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Chapter 4: The New National Accounts and International Standards in the Assessment of Enterprises and Sectors of the Economy

Dudley Jackson


Dudley Jackson 4.1 INTRODUCTION One of the consequences of globalization is likely to be the development of uniform international standards for the assessment of enterprises and of economic sectors, and one of the consequences of the Asian economic and financial crisis is certain to be the application of this sort of assessment. The assessment of a sector of an economy is an important issue because such an assessment promotes ‘transparency’ in the economy and hence provides early warning signs of economic problems, each of which was sadly lacking in the 1997 ‘Asian’ economic crisis which affected the countries of South Korea, Indonesia, Malaysia and Thailand.1 The development of a uniform and internationally standardized set of assessments, or economic indicators, is being made possible by the adoption, now in progress, of the new United Nations System of National Accounts 1993 (abbreviated as the SNA93) and consequential changes to balance-of-payments statistics and to the reporting of government transactions under the Government Finance Statistics (GFS) framework. The countries of the European Community are implementing the SNA93 under the rubric of the European System of Accounts 1995 (the ESA95), but the ESA95 is merely a strict standard for implementing the SNA93, so the ESA95 is not in any sense a competing system of national accounts.2 This chapter introduces the main features of the SNA93, and then discusses, with illustrative data, various measures of assessment which may be applied to the ‘enterprise sector’ of the economy – technically, comprising the sector of non-financial corporations...

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