Indicators Of Economic Activity Research Articles

The role of spillovers when evaluating regional development interventions: evidence from administrative upgrading in China

Direct effects of regional development interventions on targeted areas may be amplified by positive spillovers from elsewhere or offset by negative spillovers. Yet spillovers are often ignored in the applied literature, where impact analyses based on difference-in-differences typically treat spatial units as independent of their neighbours. We study spatial spillovers from a popular regional development intervention in China—converting counties to cities. China’s top-down approach lets only central government bestow city status on an area, with over ten percent of counties upgraded to cities in the last two decades. A growing literature estimates impacts of these conversions, with spatial units typically treated as independent of their neighbours. In contrast, our spatial econometric models use a 20-year panel for almost 2500 county-level units to allow indirect spillover effects on indicators of local economic activity. The positive direct effects on GDP and luminosity of a county being upgraded are amplified through positive indirect effects, especially in the eastern regions of China where economic activity and population are more densely concentrated. The models without spatial lags that ignore spillovers give estimated effects of converting counties to cities that are only two-fifths to two-thirds as large as the estimated effects coming from the spatial models.

Economic principles of small and medium-sized enterprise development in Ukraine in times of war

The article examines the definition of the concepts of "small and medium-sized enterprises," the essence, significance, reasons for the economic downturn, and the insignificant improvement in the indicators of economic development of these entities in the country. Attention is drawn to the fact that these economic entities are important components of the country's economic potential in market relations. Emphasis is placed on the peculiarities of business development in the conditions of a pandemic and wartime in Ukraine. The method of distinguishing small and medium-sized enterprises among micro and large enterprises in the economic system of Ukraine is investigated. A comparative analysis of the indicators of economic activity of active small and medium-sized enterprises in recent years is conducted. Some perennial problems of the economic development of SMEs are outlined, and new main challenges and problems of SME development associated with Russia's full-scale invasion of Ukraine are identified. Some positive shifts in the economic activities of small and medium-sized enterprises during the war in Ukraine and prospects for the post-war period are revealed. The authors formulate proposals for stabilizing and gradually increasing the potential of enterprises and the development of SMEs in the economy of the country, which is at war with the russian aggressor on the territory of Ukraine.

Monitoring Indicators of Economic Activities in Sudan Amidst Ongoing Conflict Using Satellite Data

ABSTRACT Political tensions in Sudan between the Sudanese Armed Forces (SAF) and Rapid Support Forces (RSF) escalated into an armed conflict on 15 April 2023, and continues to unfold to date. Besides the severe humanitarian catastrophe, the war disrupted access to basic public services and constrained access to markets and continued to trigger considerable scarcity of life-saving goods and services. In this paper, we utilize satellite data (nitrogen dioxide (NO2) concentration and nightlight intensity) and spatial mapping tools to provide a swift analysis of how the conflict has changed the patterns on economic activity, which are bound to have severe implications on food security in Sudan. We show that immediately after the outbreak of the armed conflict, NO2 concentration and nightlight intensity reduced in those areas affected by the conflict while remaining stable in those areas not directly affected by the conflict. We also demonstrate how these types of remote sensing and remote data collection methods can be deployed to monitor economic activities amidst armed conflicts and similar abrupt crises and guide economic, development and environmental policies.

The Federal Reserve’s responses to the post-Covid period of high inflation

In the face of the COVID-19 pandemic in March 2020, the Federal Reserve committed to using its full range of tools to support the U.S. economy. Over the next year and a half, with progress on vaccinations and strong policy support, indicators of economic activity and employment strengthened while inflation moved higher. Faced with a tight labor market and elevated inflation, the Federal Open Market Committee (FOMC) began a process of unwinding the very accommodative stance of monetary policy and moving to a restrictive policy stance to address inflation pressures. Here we review the sequence of actions taken by the Committee between late 2020 and mid-2023 as well as discuss some issues it contemplated along the way; the table provides a chronological list of key events over this period.

On the Asymmetric Relation between Inflation and Growth in Mexico: A NARDL Approach

The effects of various geopolitical tensions, conflicts between countries and the global post-pandemic COVID-19 have caused an acceleration in the price level in many countries around the world. This research focuses on Mexico since its monetary policy has created intricate interactions between inflation and growth in the short and long term, maintaining recently one of the highest real interest rates in Latin America (on average 5.75% vs. the US 2.3%). This paper examines the asymmetric link between the National Consumer Price Index and the Global Economic Activity Index in Mexico during the period 1994–2023. To do this, a Nonlinear Autoregressive Distributed Delay (NARDL) model is used with monthly data, which will allow the relationship between both variables to be more adequately investigated. The main empirical finding is that upward or downward shocks to the consumer price index have caused different effects in magnitude and sign on economic growth over time. Finally, several reasonable, practical, and feasible recommendations are provided for the design of the monetary policy considering non-linear effects.

Financial and economic assessment of the activities of construction enterprises

The article examines the scientific approaches of Ukrainian scientists in the analysis of the main financial and economic indicators of enterprise activity, financial management, the financial state of construction enterprises, as well as the state and features of the development of the construction industry. It was established that issues related to the effective management of financial resources of construction enterprises and the nature of their adoption should be deeply studied and researched, with the aim of more perfect systematization, improvement and generalization in modern business conditions. The concept of the financial state of the enterprise, its essence and tasks are revealed. The importance of the financial and economic assessment of the construction enterprise's activity, the purpose of such an assessment and directions are determined. It has been proven that financial and economic analysis is the foundation for building a financial management system for a construction enterprise. The main groups of financial and economic indicators of the company's activity were analyzed, and their classification was provided. The importance of conducting an analysis of liquidity indicators, profitability indicators and financial stability indicators at the enterprise to determine the efficiency of any enterprise, in particular construction, is substantiated. It was established that in the financial and economic evaluation of the activity of a construction enterprise, a cost analysis is mandatory, which is carried out to evaluate the results of the enterprise's activity and rational management of profit and the vital activity of the enterprise largely depends on the degree of providing financial profit with resources and the degree of profit achieved in the process cost formation. It is well-founded that the final results of the work of any enterprise are evaluated by the level of economic activity of the enterprise, that is, the total amount of profit per unit of resources. Measures are proposed to improve the component processes of conducting and ensuring the analysis and assessment of the financial and economic status of construction enterprises and the requirements for the organizational and economic support of these processes are defined.

The Impact of Economic Growth on Environmental Pollution: The Case of Uzbekistan

This article examines the relationship between economic development and environmental pollution in Uzbekistan using the Environmental Kuznets Curve (EKC) model. The main attention is paid to the analysis of the dynamics of emissions of pollutants into the atmosphere depending on indicators of economic activity, such as gross domestic product (GDP) per capita and coal consumption. To evaluate the data, the methods of correlation and regression analysis were used. The results of the study show that there is an inverse relationship between the level of economic development and the degree of environmental pollution after reaching a certain level of per capita income. The findings highlight the need to correctly account for environmental costs in economic policy and provide recommendations for improving the environmental situation in the country in the context of achieving sustainable development goals.

An epidemic and economic growth. A medium-term perspective

The described model of economic growth under conditions of an epidemic does not directly refer to the social and economic situation in the years 2020 and 2021, i.e. to the COVID-19 pandemic. It is aimed to identify the consequences of any epidemic leading to severe social losses (high percentages of the infected and dead, limited interpersonal contacts as a result of lockdown, a lowered level of general individual and social well-being) and economic losses (a fall in production as a result of the collapse of aggregate demand and a reduction in the supply capacity of the economy, and consequently a decreased rate of capital accumulation). The described epidemiological-economic model combines the SIR epidemiological model from 1927 (with its modification proposed in 2020 by Bärwolff) and the neoclassical growth model proposed by Solow in 1956. The authors expanded the concept by lockdown restrictions with various levels of their severity, considering specific rules for their implementation, and by guidelines for scenario analyses of changes in the value of social and economic activity index, in the value of aggregate production, in the capital stock accumulated in the economy and in social utility. The effect of an epidemic on medium-term economic growth was also considered, for various levels of economic development (measured by the distance of input capital stock from that formed in a long-term equilibrium in the Solow model). The principal conclusions drawn from the discussion are listed below. First, the introduction of the same restrictions imposed on social and economic activity throughout the territory of a country poses a considerable risk of error in assuming a uniform spread of the epidemic. Second, a rapid introduction of lockdown measures has a stronger effect on accumulated social and economic activity than a continual process of gradual imposing and lifting restrictions on that activity. Third, a scenario of a rapidly imposed severe lockdown has the most drastic consequences for the economy, causing both the sharpest drop in production, the longest time of remaining on the path of relatively lowest growth, and the most dramatic expected accumulated decrease in production. Similar conclusions are drawn as to the changes in social utility.

Macroeconomic and Bank-Level Factors Impact on NPL Ratio

The paper is aimed at analyzing and assessing the impact of macroeconomic and bank-level factors of non-performing loans. Those factors are very important and have become increasingly popular. The non-performing loan ratio is one of the most important tools used to reflect the stability of the banks. The main reason of this study about is to examine which macroeconomic and bank-level components influence the NPL of Armenian banks. The study focused on Armenian banks also provides comparisons with the US banking sector. The linear regression models and correlations analysis methodology was used to decide and assess the critical relationship between the periods from January 2013 to December 2020. The main results of this study could be useful for bank stability and loan portfolio management, and shown that capital adequacy ratio, return on assets, liquidity ratio, return on equity from bank-level factors and yield curves, national currency from macroeconomic factors has no significant effect on explaining the NPL ratio in a multidimensional perspective. On the other hand, the consumer price index, the economic activity index and non-residents loans ratio have a negative impact on the NPL ratio. Unemployment rate, operating efficiency, USD/AMD exchange and fuel price have a positive effect on the NPL ratio.

Исследование рационального функционирования и развития предприятий пищевой промышленности – потенциальных участников кластера масложирового подкомплекса региона

Numerous scientific studies of clusters in the agricultural economy are devoted to assessing the general trends in the indicators of individual industries, methodological approaches to creating integrated structures within them. But the issues of applying a systematic approach to the study of regional processes occurring in a group of industry enterprises within one product subcomplex remain insufficiently developed. The purpose of the work is to select, form into a system and test economic and statistical indicators that allow assessing the rationality of functioning and the level of development of food industry enterprises, potentially or actually forming a specialized cluster in the oil and fat subcomplex of the region. Indicators for analyzing trends in the field of processing, rational functioning and development processes for oil extraction plants and a fat plant are proposed. Analysis of structural shifts, the study of consolidated natural and financial indicators of production and economic activity made it possible to determine the trends occurring in the industry. By means of consolidated specific and relative economic indicators, the rationality of the functioning of enterprises of the subcomplex is assessed. Conclusions about development processes were made based on quantitative indicators of qualitative changes, innovative areas of improvement, and involvement in government development programs. The analysis of diverse indicators characterizing the current state of rationality and the pace of business development, illustrating the transformation of the economy of enterprises in connection with the scale-up of production, is presented. The proposed research system was tested on official statistical materials recorded in the annual accounting reports of enterprises in the Saratov region. The practical significance of the work lies in the use of the results to make decisions on the rationalization of production and economic processes and development strategies. The author’s idea seems to be universal and can be applied in the study of economic processes and development of cluster participants in other subcomplexes of the national economy.

Управление устойчивым развитием предприятия с использованием инструментов социального инвестирования и «зелёных» финансов при реализации концепции социально-этического маркетинга

This work examines the implementation by commercial enterprises and organizations of the concept of sustainable development, which is so relevant at present, with the help of such innovative financial instruments as “green” financing and social investment; the possibility and effectiveness of their use in the practice of managing a commercial organization is substantiated. The purpose of the presented research is to determine the possibility and economic feasibility of using such financial instruments as “green” finance and social investment in the practice of managing a commercial organization. The object of the study is the EFKO group of companies (RF, Belgorod region) – one of the largest food companies in the Russian Federation, the subject is “green” finance and social investments as innovative financial instruments that ensure the sustainable development of a commercial organization and an indicator of its effective management. According to the results of the study, it was established that for 30 years the company under study has been carrying out effective commercial activities, while carrying out active social investment, the object of which is both the internal environment of the organization (personnel, internal infrastructure, etc.) and the external environment (active environmental management, development territories, charity, etc.), ensuring the implementation of the concept of sustainable development. At the same time, it has been established that against the backdrop of an increase in the volume of investments for the implementation of social goals and objectives, there is a positive trend in the main indicators of economic activity and basic financial indicators. The forecast of the main performance indicators of the Group of Companies also allows us to draw a conclusion about the feasibility of implementing social investment, in general, and “green” financing, in particular, since against the backdrop of growing investments in their implementation, the forecast is positive. Undoubtedly, the practice of “green” financing and social investment is a tool for creating and maintaining a positive image and business reputation of the company, which is confirmed by the high results of an independent rating assessment, which has a positive effect on the investment attractiveness of the company and its competitiveness, and allows for a permanent increase in operational efficiency.

Economic analysis and control of crisis phenomena in the activities of enterprises

The article analyzes the essence of crisis phenomena and the causes of their occurrence in the activity of the enterprise. In the activity of anyone enterprise there are quite a few reasons that can lead to a crisis situation, in the scientific literature there are external and internal factors that can cause a crisis situation that have a mutual impact. The emergence of crisis situations in the enterprise is an inevitable stage in the life cycle. In order to avoid excessively negative consequences of the crisis, the company needs to carry out early diagnosis of the possibility of crisis situations and, if necessary, to introduce a set of measures aimed at preventing or countering the crisis. In order to early detection of a crisis situation or the probability of its occurrence, it is necessary to systematically diagnose the financial security of the enterprise, which involves the implementation of express diagnostics, complex analysis and fundamental diagnostics. The article provides an indicative list of indicators for the implementation of express diagnostics of the financial and economic state of the enterprise, including: indicators of own sources of formation of financial resources and financial stability; indicators of liquidity and payment and settlement discipline; indicators of the state of fixed assets; performance indicators of economic activity and management of the enterprise. The list of these indicators is not exhaustive, because in each case the specifics of the industry, the market and the enterprise itself should be taken into account. Three main stages of the crisis development at the enterprise are considered: hidden crisis (efficiency crisis, strategy crisis), solvency crisis (performance crisis), threat of bankruptcy (liquidity crisis). The main manifestations of crisis situations at the enterprise at each stage and the main mistakes that management makes in an attempt to counteract the crisis are determined. The main tools for the development and application of anti-crisis measures have been identified. At any stage of the crisis, subject to the introduction of an effective marketing strategy, effective tools of crisis management and the sufficiency of financial resources, it is possible to restore the normal rhythm of the enterprise and strengthen market positions. The experience of well-known companies that have received a useful effect from the crisis situation is considered. The effectiveness of the anti-crisis management system at the enterprise is achieved subject to the flexibility and adaptability of the management mechanism, the ability to diversify and rapid situational response, the ability to effectively use the potential of the enterprise and the introduction of informal management methods. The article considers tendencies of development of Ukrainian enterprises in conditions of crisis caused by the war. In the context of economic sectors, the main obstacles in the development of enterprises are outlined. The analysis of dynamics of development of the existing business and the beginning of a new one (by sectors of the economy and by regions) is carried out.

Комплексна діагностика економічних показників діяльності для забезпечення фінансової безпеки страхових компаній

The development of the insurance market is accompanied by unstable transitional processes that can create threats and risks of worsening the insurer's financial condition. In this regard, an urgent issue is the comprehensive diagnosis of the economic indicators of the activity of insurance companies to ensure their financial security. The insurer's financial security is a set of measures to eliminate the threats of deterioration of the financial condition to achieve an acceptable level of activity risk during a certain period and ensure the insurer's financial stability before the increase of external and internal threats affecting the financial condition. Threats include factors and processes that can negatively affect the interests of owners and clients and the insurer's financial condition. Therefore, indicators of the insurer's financial security are the most significant financial indicators and parameters (factors) that characterize the insurer's financial condition and financial stability concerning parameter changes (factors). The article aims to develop a methodology for comprehensive diagnostics of insurance companies' economic indicators to ensure financial security. The research methodology is based on the use of insurers' microeconomic indicators. The author's proposals are based on two groups of indicators used in financial analysis: 1) indicators of financial condition and 2) indicators of financial stability and security. Each group comprises 7-8 financial indicators, corresponding criteria, and normative values. It is proposed that diagnostics be carried out in two stages. In the first stage, the financial condition is determined according to the indicators of the first group, and then – in the second stage, it is detailed by analyzing the indicators of financial security (indicators of the second group). The application of the approach presented in the article makes it possible to carry out purposeful work on the diagnosis of economic indicators of activity, to form an independent opinion not only about the insurer's financial condition but also to build the fundamental foundations of ensuring its financial security. It is crucial not only to calculate and compare the dynamics of indicators of the financial condition of insurers but also to assess the degree of their readiness to counter threats correctly.

FORMATION OF PRODUCT ASSORTMENT OF RETAIL ENTERPRISES

The article examines the peculiarities of the formation of the product range of retail trade. An optimal product range was formed in order to increase consumer loyalty to the company's products. In the article have been defined that in the direction to ensure consumer loyalty to the company, first of all, the optimal assortment should be formed and, accordingly, the formation of goods should be carried out. Namely, the application of the integrated ABC/FMR analysis of the product range allows you to classify product stocks according to the criteria of "profitability of product sales" and "level of demand», and will contribute to the formation of an optimal product range which helps to ensure the rhythmic work of the trading company and serves as the basis for achieving the target indicators of economic activity. The application of the integrated ABC/FMR analysis of the product range made it possible to classify the product stocks according to such criteria as: "profitability of product sales" and "level of demand", which, thereby, will contribute to the formation of the optimal product range, ensuring a high level of efficiency of the trading enterprise. The proposed approach to structuring the product range, which is based on the results ofккня ABC/FMR analysis, makes it possible to classify the entire set of product units in the selected product line into nine subgroups. It also has been identified that in sales management, the "degree of demand" of a product or the requests frequency for certain groups of products serves as an important criterion for positioning product groups in the marketing strategy of management (the slogan "we have them all"). In goods management, FMR analysis is used to determine the location of goods storage, so the most frequently requested ("fast" - fast) positions are located closer to the assembly areas.

МЕТОДИЧНІ ПІДХОДИ ДО ОЦІНКИ ТЕХНІЧНОГО ЗАБЕЗПЕЧЕННЯ АГРОБІЗНЕСУ

The technical base is the material basis for the production capabilities of farms. The availability of machinery and the efficiency of its use are determined by the strategic development of enterprises. The issues of formation and efficient use of the resource potential of enterprises in order to increase the competitiveness of agriculture and the national economy as a whole are becoming increasingly important. To date, agroeconomic science has formed the main methodological directions for assessing technical support: the first involves determining its absolute value, and the second - the normative value based on available technical resources. Quantitative assessment of the production potential is established by determining the total value of technical resources at the disposal of agricultural enterprises. This involves comparing heterogeneous production resources (monetary valuation of all components of the resource potential, valuation of technical resources in natural units, determination of their quantity and value per area of agricultural land, etc. The normative value of fixed production assets is calculated in accordance with the performance indicator (the amount of a certain type of product produced, yield, average milk yield, etc.). The analysis of the provision of agricultural enterprises with technical means can be carried out according to the following scheme: assessment of the provision of technical means and efficiency of enterprises; financial analysis of enterprises' activities, comparative analysis; organization of the procedure for assessing the technical resources of enterprises. Three methodological approaches are used for generalized assessment of technical support in agriculture. They are based on various statistical models (deterministic and stochastic) that substantiate the link between the availability of technical resources and production outcomes; normative (standardized) values of the availability of certain types of technical resources, the total availability of which is correlated with the average or base value; and monetary assessment of the components of the technical and technological base of agriculture. The specified indicators make it possible to analyze more deeply changes in the absolute and specific sizes of the main means of production for various production purposes, including technical resources, their species composition and structure over a number of years, average annual growth rates and growth, which makes it possible to establish trends in the dynamics and their movement, apply their rational road structure and dimensions, which ensures the growth of indicators of economic activity, outline and develop recommendations for improving the structure of the material and technical base, its effective use.

Эффективность информационно-консультационной поддержки в сфере производительности труда субъектов агробизнеса Кемеровской области – Кузбасса

The article analyzes the economic efficiency of information and advisory support measures provided during the implementation of the national project «Labor Productivity» to the subjects of agrarian business in the Kemerovo Region – Kuzbass. The study was conducted based on the results of economic activity of enterprises of the first, second and third spheres of agro-industrial complex of the industrial region of the Siberian Federal District in 2019 - 2022 on the basis of statistical and financial reporting data in the context of industries that supply means of production to agricultural producers, directly growing livestock and crop production, as well as food and processing industry. The author determined the indicators of labor productivity, profitability and current liquidity as the main indicators of efficiency. The results of calculations for the entire set of recipients of support showed the growth of analyzed indicators with a simultaneous increase in the number of jobs in the study period. The main resulting indicators of economic activity in the region as a whole have significantly improved. Labor productivity increased by 28.48 percent; profitability – more than 1.5 times. Based on the results of the study, the author’s concept of determining the effectiveness of information and advisory support of agrarian business entities in the field of labor productivity was substantiated.

ЦИФРОВІЗАЦІЯ ОПОДАТКУВАННЯ ЯК МЕТОД ПОПЕРЕДЖЕННЯ ТА МІНІМІЗАЦІЇ ПОДАТКОВИХ РИЗИКІВ НА ПІДПРИЄМСТВІ

Risk tolerance is the main element of the functioning of economic entities. Taking into account the spheres of influence on the activity of the enterprise, tax risks play a significant role as an element of the financial risks of the enterprise, therefore every taxpayer should be aware of measures and methods of prevention and minimization of tax risks. In the conditions of the rapid and forced progress of digitalization, in the medium term, a significant number of electronic tools for communication with the state and controlling bodies have been created for business entities. The implementation of digital technologies and innovations, state support for business development has a significant contribution to improving the work of enterprises. In the field of taxation, the pace of digital innovations is quite moderate, taking into account the tax awareness of taxpayers and the popularization of electronic tax products, but they are confident and consistent. Business entities, as of the current day, have at their disposal information that provides the possibility of analysis, comparison and control of indicators of economic activity for the formation of measures and methods of prevention and minimization of tax risks. The article emphasizes the need to use digital technologies in the field of accounting and reporting; administration and the tools of electronic services, digital platforms aimed at conducting business and its service (electronic document flow, accounting, analytics, reporting, control) are singled out. It was determined that the generalization of information from electronic services at the state level makes it possible to determine the real and potential tax risk at the enterprise. Accumulation of the specified information and ranking of the sphere of influence, respectively, forms the foundation for determining measures and methods of prevention and minimization of tax risks, which is a component of the enterprise management system in modern realities.

БЕНЧМАРКІНГ ЯК МЕТОД ДЛЯ ПОКРАЩЕННЯ ДІЯЛЬНОСТІ ПІДПРИЄМСТВА

The article emphasizes the importance of improving management processes at the enterprise, using new approaches. Emphasis is placed on the need to master benchmarking technologies and their effective use. It is highlighted that the assessment of the firm's competitive status is formed by determining the level of the firm's strategic potential at each stage of its life cycle of competitive advantage. It is emphasized that at the current stage there is no consensus on the definition of the essence of benchmarking. Various definitions of the term "benchmarking" have been proposed. The statements of both domestic and foreign scientists are analyzed. A proper statement of the term "benchmarking" is proposed and its optimal meaning is determined. The main purpose and goals of benchmarking are highlighted and it is emphasized that the objects of benchmarking can be methods, processes, technologies, quality parameters of products,and indicators of financial and economic activity of the enterprise. The importance of taking into account the main principles of benchmarking, which determine its effectiveness, is emphasized. The main principles of benchmarking are proposed and the interpretation by the authors is analyzed. The main stages of benchmarking are highlighted and the interpretation of the stages by scientists is given. It is emphasized that conducting a benchmarking comparison requires focusing on key indicators of competitiveness. It is important to note that the benchmarking approach can be applied both independently and with the participation of a team of consultants. The positive consequences of the application of benchmarking are business improvement, awareness of the comparative state of the enterprise, obtaining a strategic advantage, and increasing the level of organizational knowledge. It is emphasized in the conclusions that benchmarking, as a tool, allows you to compare performance indicators and identify the strengths and weaknesses of the enterprise. In the perspective of further research, the introduction of practical application of benchmarking is envisaged in order to increase the effectiveness and logic of business processes and increase competitiveness.

Relationship of Payment Statistics and Sector-Wise Gross Value Added in the Indian Economy: A Regression Analysis Approach

Purpose: To explore the impact of payment statistics on sector-wise gross value added (GVA) in the Indian economy. Theoretical framework: Payment statistics are a measure of the volume and value of payments made in an economy. They are an important indicator of economic activity, as they reflect the flow of goods and services between buyers and sellers. GVA is a measure of the total value of goods and services produced in an economy, after subtracting the cost of intermediate inputs. Design/Methodology/Approach: The study uses regression analysis to examine the relationship between payment statistics and sector-wise GVA in India from 2011 to 2022. Findings: The study finds that payment statistics exhibit a significant influence on major sector-wise GVA during the specified period. Originality/Value: The study contributes to the literature by providing empirical evidence on the relationship between payment statistics and sector-wise GVA in India.

Constructing high frequency economic indicators by imputation

Summary Monthly and weekly economic indicators are often taken to be the largest common factor estimated from high and low frequency data, either separately or jointly. To incorporate mixed frequency information without directly modelling them, we target a low frequency diffusion index that is already available, and treat high frequency values as missing. We impute these values using multiple factors estimated from the high frequency data. In the empirical examples considered, static matrix completion that does not account for serial correlation in the idiosyncratic errors yields imprecise estimates of the missing values irrespective of how the factors are estimated. Single equation and systems-based dynamic procedures that account for serial correlation yield imputed values that are closer to the observed low frequency ones. This is the case in the counterfactual exercise that imputes the monthly values of consumer sentiment series before 1978 when the data was released only on a quarterly basis. This is also the case for a weekly version of the Chicago Fed National Activity Index of economic activity that is imputed using seasonally unadjusted data. The imputed series reveals episodes of increased variability of weekly economic information that are masked by the monthly data, notably around the 2014–2015 collapse in oil prices.