SAMs, THE SNA AND NATIONAL ACCOUNTING CAPABILITIES

In this paper, the author argues for radical revision of the 1968 SNA in the direction of simplification, in order to give greater emphasis to essential concepts, and for flexibility, so that each country can develop its own SAMs within a general conceptual framework as a response to domestic priorities and issues. It is suggested that general equilibrium models should replace input-output as the central conceptualisation of the system, leading to an equal emphasis on prices and quantities, and an equal concern within the SNA for income distribution, factor markets and production structure, set in the context of external flows and balances.