The World Economics Journal, has over the past decade carried the views of many of the world’s leading economists. Its credentials are further demonstrated by the high calibre of its editorial board.
The focus of the Journal is the use, measurement, accuracy and improvement of economic data. Economic data is used for many important purposes ranging from investment appraisal through to aid disbursement. But is mostly of very poor quality, even in highly developed countries. The most basic of all economic measures, Gross Domestic Product, is flawed in many ways. For example, in most countries GDP excludes the informal economy, sometimes amounting to over half of all economic activity. The contribution to GDP of the financial services sector is all but impossible to measure. Nevertheless measures of GDP are used daily throughout the world, for countless purposes.
In less developed countries the resources available for producing economic data are almost universally inadequate. The problems of counting population size are almost insuperable in many emerging markets, but even in central London severe problems have been encountered. And in some countries corruption and political calculation overtakes the need for good data.
This is a very large subject, but one starting to be understood as crucial. Good economic data in indispensable for the proper conduct of economic policy, and for many other needs. But it is exceedingly difficult to produce good data given the resources usually available. The self-imposed task of the World Economics Journal is to help improve economic data, by all means available.
Given the intensely practical nature of the subject matter of the Journal, one of our distinguishing characteristics has been an insistence on authors writing in an easily comprehensible style, without jargon or mathematics, allowing a wide readership to benefit from the thoughts of our eminent authors.
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