Terms of trade, real GDP, and real value added: a new look at New Zealand's growth performance

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HTMLTerms of trade, real GDP, and real value added: a new look at New Zealand's growth performance

13 August 2003This paper shows that the conventional measure of real GDP underesti-
mates the growth in real value added when the terms of trade improve.
Thus, in New Zealand, where the terms of trade have been improving over
the past 15 years, real GDP has underestimated the country's real growth
performance by nearly 0.4% per year on average.

Publication typeReport
CoverageAustralia
Permanent URLhttp://apo.org.au/node/8035
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