Fundamentals of Social Accounting |
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Authors: | Graham Pyatt |
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Affiliation: | Department of Economics , University of Warwick , Coventry , CV4 7AL , UK |
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Abstract: | A series of social accounting matrices (SAMs) are developed in this paper from first principles. Starting with the basic concepts of an institution, real assets and financial claims, the notions of a transaction and production are introduced, and it is shown that a SAM can be developed from the fundamental transactions identity. Accounts for real assets and financial claims are then grafted on to this initial SAM by reference to a similarly fundamental assets identity. Hence, a fully articulated SAM framework is developed which covers institutions, production, assets and their appreciation. |
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