New products and the index of industrial production
论文指出工业生产指数编制中常忽略新产品贡献,导致指数偏低,尤其影响发展中国家;提出新方法并以坦桑尼亚和伊拉克为例验证。
The paper discusses the treatment of new products (industries) in the compilation of the index of industrial production. It shows that their contribution is either completely ignored or only haphazardly taken into account. This often produces a serious downward bias in the index. The problem is particularly important where major new industries are often introduced. A new method is proposed and its implementation discussed. Empirical results for Tanzania and Iraq illustrate the importance of the problem for developing countries.