Pub Date : 2021-09-30DOI: 10.4324/9780203117286-12
Shrikant Kolhar, Shrikant Kolhar
Ravindra H Dholakia (rdholkia@iima.ac.in) teaches at the Indian Institute of Management, Ahmedabad. R Nagaraj (nag@igidr.ac.in) teaches at the Indira Gandhi Institute of Development Research, Mumbai. Manish Pandya (mannpandya@gmail.com) is with the Directorate of Economics and Statistics, Government of Gujarat. The new gross domestic product series, with base year 2011–12, has mostly replaced the Annual Survey of Industries with corporate fi nancial data for estimating manufacturing value added. This has resulted in its higher share in GDP and a faster growth rate (compared to the older series). The Central Statistics Offi ce claims that the new series better captures value addition, as ASI reportedly left out activities outside the factory of an enterprise. This claim is probably not true, as is evident from closer examination of a sample of ASI primary schedules. In 2015, the Central Statistics Offi ce (CSO) introduced the new series of National Accounts Statistics (NAS) with 2011–12 as the base year, replacing the earlier series with the base year 2004–05. The new series has followed the guidelines of the United Nations’ System of National Accounts (UNSNA) 2008, replacing the earlier template of UNSNA 1994. The revision has, as always, introduced some newer methodologies and updated many databases. However, dramatic and unexpected changes in the levels and growth rates of the gross dom estic product (GDP) (and its principal sectors) have caught public and policymakers’ attention, raising doubts over the veracity of the new GDP estimates. Specifi cally, the manufacturing sector estimates in the new series are in the eye of the storm, since its share in GDP at current prices is larger by about two percentage points (compared to the old series), and its annual growth rates are signifi cantly higher—with a change even in the direction of growth in some cases. For instance, for 2013–14, the growth rate of manufacturing gross value added (GVA) at constant prices swung from (-)0.7% in the old series, to (+)5.3% in the new series (Figures 1a and 1b). Such wide variations in the growth rates for the same years reported by the two series of the same publication, expectedly, drew widespread criticisms, especially since the new estimates were quite at variance with other macro correlates (Nagaraj 2015a). The new series, CSO has contended, better captures value addition in manufacturing than before. The changeover to the corporate sector database— obtained from the Ministry of Corporate Affairs (MCA)—is said to include activities that were hitherto left out by the Annual Survey of Industries (ASI), on account of the limitation of its approach to data collection.
Ravindra H Dholakia (rdholkia@iima.ac.in)在艾哈迈达巴德印度管理学院任教。R Nagaraj (nag@igidr.ac.in)在孟买英迪拉·甘地发展研究所任教。Manish Pandya (mannpandya@gmail.com)就职于古吉拉特邦政府经济和统计局。新的国内生产总值(gdp)系列(基准年为2011 - 2012年)基本上用企业财务数据取代了《年度产业调查》(Annual Survey of Industries)，用于估算制造业增加值。这导致其在GDP中所占的份额更高，增长率更快(与旧系列相比)。中央统计局声称，新的统计数据更好地反映了增加值，因为据报道，ASI遗漏了企业工厂以外的活动。这种说法可能是不正确的，从更仔细地检查ASI主要时间表的样本可以看出这一点。2015年，中央统计局(CSO)推出了以2011-12年为基准年的国民经济核算统计(NAS)新系列，取代了之前以2004-05年为基准年的系列。新的系列遵循了2008年联合国国民核算体系的指导方针，取代了1994年国民核算体系的早期模板。修订一如既往地引入了一些较新的方法并更新了许多数据库。然而，国内生产总值(GDP)(及其主要部门)水平和增长率的戏剧性和意想不到的变化引起了公众和政策制定者的注意，使人们对新的GDP估计的准确性产生了怀疑。具体来说，新数据中对制造业的估计处于风口浪头，因为按当前价格计算，制造业在GDP中所占的份额(与旧数据相比)高出约两个百分点，而且其年增长率明显更高——在某些情况下甚至出现了增长方向的变化。例如，2013-14年，按不变价格计算的制造业总增加值(GVA)增长率从旧系列的(-)0.7%转变为新系列的(+)5.3%(图1a和图1b)。意料之中的是，同一出版物的两个系列报告的相同年份的增长率差异如此之大，引起了广泛的批评，特别是因为新的估计与其他宏观相关因素大相径庭(Nagaraj 2015a)。CSO认为，新系列比以前更好地捕捉了制造业的附加值。转换到公司部门数据库- -从公司事务部获得- -据说包括迄今为止由于其数据收集方法的限制而被年度工业调查(ASI)遗漏的活动。
{"title":"Some Methodological Issues","authors":"Shrikant Kolhar, Shrikant Kolhar","doi":"10.4324/9780203117286-12","DOIUrl":"https://doi.org/10.4324/9780203117286-12","url":null,"abstract":"Ravindra H Dholakia (rdholkia@iima.ac.in) teaches at the Indian Institute of Management, Ahmedabad. R Nagaraj (nag@igidr.ac.in) teaches at the Indira Gandhi Institute of Development Research, Mumbai. Manish Pandya (mannpandya@gmail.com) is with the Directorate of Economics and Statistics, Government of Gujarat. The new gross domestic product series, with base year 2011–12, has mostly replaced the Annual Survey of Industries with corporate fi nancial data for estimating manufacturing value added. This has resulted in its higher share in GDP and a faster growth rate (compared to the older series). The Central Statistics Offi ce claims that the new series better captures value addition, as ASI reportedly left out activities outside the factory of an enterprise. This claim is probably not true, as is evident from closer examination of a sample of ASI primary schedules. In 2015, the Central Statistics Offi ce (CSO) introduced the new series of National Accounts Statistics (NAS) with 2011–12 as the base year, replacing the earlier series with the base year 2004–05. The new series has followed the guidelines of the United Nations’ System of National Accounts (UNSNA) 2008, replacing the earlier template of UNSNA 1994. The revision has, as always, introduced some newer methodologies and updated many databases. However, dramatic and unexpected changes in the levels and growth rates of the gross dom estic product (GDP) (and its principal sectors) have caught public and policymakers’ attention, raising doubts over the veracity of the new GDP estimates. Specifi cally, the manufacturing sector estimates in the new series are in the eye of the storm, since its share in GDP at current prices is larger by about two percentage points (compared to the old series), and its annual growth rates are signifi cantly higher—with a change even in the direction of growth in some cases. For instance, for 2013–14, the growth rate of manufacturing gross value added (GVA) at constant prices swung from (-)0.7% in the old series, to (+)5.3% in the new series (Figures 1a and 1b). Such wide variations in the growth rates for the same years reported by the two series of the same publication, expectedly, drew widespread criticisms, especially since the new estimates were quite at variance with other macro correlates (Nagaraj 2015a). The new series, CSO has contended, better captures value addition in manufacturing than before. The changeover to the corporate sector database— obtained from the Ministry of Corporate Affairs (MCA)—is said to include activities that were hitherto left out by the Annual Survey of Industries (ASI), on account of the limitation of its approach to data collection.","PeriodicalId":383974,"journal":{"name":"The Logic of Capital","volume":"114 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127910685","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-30DOI: 10.1017/9781108937559.003
D. Basu
{"title":"The Generation and Accumulation of Surplus Value","authors":"D. Basu","doi":"10.1017/9781108937559.003","DOIUrl":"https://doi.org/10.1017/9781108937559.003","url":null,"abstract":"","PeriodicalId":383974,"journal":{"name":"The Logic of Capital","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131842358","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-30DOI: 10.1017/9781108937559.005
D. Basu
{"title":"Distribution of Surplus Value","authors":"D. Basu","doi":"10.1017/9781108937559.005","DOIUrl":"https://doi.org/10.1017/9781108937559.005","url":null,"abstract":"","PeriodicalId":383974,"journal":{"name":"The Logic of Capital","volume":"2014 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127575300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-30DOI: 10.1017/9781108937559.006
{"title":"Capitalism and Technical Change","authors":"","doi":"10.1017/9781108937559.006","DOIUrl":"https://doi.org/10.1017/9781108937559.006","url":null,"abstract":"","PeriodicalId":383974,"journal":{"name":"The Logic of Capital","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124762516","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-30DOI: 10.1017/9781108937559.008
D. Basu
{"title":"Exploitation and Oppression","authors":"D. Basu","doi":"10.1017/9781108937559.008","DOIUrl":"https://doi.org/10.1017/9781108937559.008","url":null,"abstract":"","PeriodicalId":383974,"journal":{"name":"The Logic of Capital","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128918224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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