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Abstract

It is well-established that there is a continuous and growing need for consistent economic data across various sectors of the national economy to support economic analysis and the development of macroeconomic models. The Social Accounting Matrix (SAM) provides a comprehensive framework of fundamental information for such modeling and analysis, as it integrates input-output tables with national product and income accounts within a consistent structure. While input-output tables are typically prepared every five years or so, national product and income accounts are compiled annually with a time lag, making the updating of a Social Accounting Matrix for a subsequent period not only difficult but a significant challenge. Constructing an expanded Social Accounting Matrix suitable for economic analysis requires a vast amount of data that is often difficult to source, necessitating supplementation with additional information from diverse origins such as industrial statistics, labor surveys, agricultural data, government accounts, foreign trade records, and household surveys. The primary problem in updating the matrix lies in finding an efficient and cost-effective method to integrate and reconcile information obtained from these various sources, including data from previous years. The traditional approach to building a modern, coherent, and consistent Social Accounting Matrix begins with a base-year matrix from a prior period, which is then updated for a later period by incorporating new information regarding row and column totals while keeping the internal flows within the matrix constant, often starting from an inconsistent matrix with incomplete data regarding totals and various flows.

DOI

10.33095/jeas.v14i52.1430

Subject Area

Economics

First Page

145

Last Page

159

Rights

http://creativecommons.org/licenses/by-nc-nd/4.0

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