What is it about?
the objective of this paper is twofold. First, it aims to start a debate in the literature about the ability of GA as it stands across Europe to meet the European System of National and Regional Accounts (ESA) requirements concerning GGS data. This assumes particular relevance in a context where the two systems have to coexist, but given that budgetary reporting (GA) is the main input to ESA reporting (NA), reconciliation between the two systems is required. The second objective is of a more technical nature—empirically demonstrating the diversity and materiality of the main adjustments to be made when converting GGS data from GA into NA. This is done by using evidence for Portugal and Spain, focusing on Central Government data for the period 2006–2009 and measuring their quantitative impact on the public (budgetary) deficit.
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Why is it important?
Because it questions the realiability of the deficits reported by EU member states and it points to better monitoring and need to harmonization in governmental accounts.
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This page is a summary of: From Governmental Accounting into National Accounts: Adjustments Diversity and Materiality with Evidence from the Iberian Countries’ Central Governments, Innovar, October 2014, Universidad Nacional de Colombia,
DOI: 10.15446/innovar.v24n54.46653.
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