Toward the Development of Sectoral Financial Positions and Flows in a From-Whom-to-Whom Framework

Manik Shrestha

Chapter in NBER book Measuring Economic Sustainability and Progress (2014), Dale W. Jorgenson, J. Steven Landefeld, and Paul Schreyer, editors (p. 373 - 425)
Conference held August 6-8, 2012
Published in September 2014 by University of Chicago Press
© 2014 by the National Bureau of Economic Research
in NBER Book Series Studies in Income and Wealth

The global crisis of 2008 highlighted the importance of understanding financial interconnectedness among the various sectors of an economy and between them and their counterparties in the rest of the world. In addition, the financial interconnectedness is also to be understood as an integral part of the linkages between real and financial economies. Although the System of National Accounts (SNA) provides an overarching framework for the development of such macroeconomic statistics, application of this kind of analysis has been hampered by the lack of adequate data. This article reviews the attributes of the SNA as a framework for integrated macroeconomic accounts, explores application of SNA principles for developing data on inter-sectoral financial linkages, reviews some important experiences that may be of use in the development of fully integrated macroeconomic accounts, and outlines activities and steps for implementing sectoral accounts and balance sheets, including sectoral financial positions and flows in a from-whom-to-whom framework.

This chapter is no longer available for free download, since the book has been published. To obtain a copy, you must buy the book.
Order from

This paper was revised on August 12, 2013

Machine-readable bibliographic record - MARC, RIS, BibTeX

Users who downloaded this chapter also downloaded these:
Bordo The Bretton Woods International Monetary System: A Historical Overview
Jorgenson and Slesnick Measuring Social Welfare in the U.S. National Accounts
Goldstein, Geithner, Keating, and Park IMF Structural Programs
Mussa and Savastano The IMF Approach to Economic Stabilization
Preston Comment on "Dormant Shocks and Fiscal Virtue"
NBER Videos

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email:

Contact Us