On the correct determination of GDP of the countries of the world economic center

 
PIIS020736760014569-4-1
DOI10.31857/S020736760014569-4
Publication type Article
Status Published
Authors
Affiliation: Investment company «ITI Capital» OJSC
Address: Russian Federation, Moscow
Occupation: head of sector
Affiliation: JSC «NPK «design Bureau of mechanical engineering»
Address: Russian Federation
Affiliation:
Address: Russian Federation
Journal nameObshchestvo i ekonomika
EditionIssue 4
Pages41-58
Abstract

The article criticizes the existing method for determining the nominal GDP for rich countries that are members of the OECD (let's call them the countries of the World Economic Center). It is shown that the declared GDP parameters violate the principle of universality of economic laws for the clusters of the countries of the World Economic Center and the Semi-periphery. The statistical analysis of the patterns obtained on the basis of the initial data of the IMF gives reason to believe that the political and sociological theories of R. Prebisch and I. Wallerstein have a decisive influence on the procedure for assessing GDP in the countries of the Center. First of all, this explains the overestimation of the GDP of the countries of the Center by about 2 times due to the "virtual components". In order to eliminate this approach, it is proposed to introduce a two-stage change in the procedure for calculating GDP. In the initial phase of the first phase, a new PPP-adjusted GDP rating of OECD countries was compiled. It radically changes the understanding of the ratio of the GDP of the countries of the Semi-periphery countries and the countries of the Center, approximately doubling the importance of the former. On the validity of the assessment of the GDP of the countries belonging to the World Economic Center. The article criticizes the existing method for determining the nominal GDP for rich countries that are members of the OECD (aka the countries of the World Economic Center). It is shown that the declared GDP parameters violate the principle of universality of economic laws for the country clusters belonging to the World Economic Center and the Semi-periphery. The statistical analysis of the patterns obtained on the basis of the initial IMF data gives reason to believe that the political and sociological theories of R. Prebisch and I. Wallerstein have a decisive influence on the procedure for assessing GDP in the countries of the Center. Primarily, this explains the overestimation of the GDP of the countries of the Center by about 2 times due to the "virtual components". In order to eliminate this approach, it is proposed to introduce a two-stage transformation in the procedure for calculating GDP. In the initial phase of the first stage, a new PPP-adjusted GDP rating of OECD countries is compiled. It radically changes the understanding of the ratio of the GDP of the countries of the Semi-periphery to the GDP of the countries of the Center, approximately doubling the importance of the former.

Keywordsgross domestic product (GDP), purchasing power parity (PPP), converting with PPP, indicator of the country's presence in the World Economic Center, the Semi-periphery
Received21.05.2021
Publication date21.05.2021
Number of characters35357
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