Accounting for Productive Investment and Value Creation

27 Pages Posted: 24 Feb 2016

See all articles by Mariana Mazzucato

Mariana Mazzucato

University of York - Social Policy Research Unit (SPRU); University of Sussex

Alan Shipman

The Open University

Date Written: October 01, 2013

Abstract

Noting that the contribution of R&D is being integrated into national accounts just as these come under criticism for potentially overstating output, this paper uses a re-assessment of the concept of value to examine scope for under- and over-statement in conventional GDP. It assesses ways in which R&D may generate value without registering an income flow, and ways that other activities (notably financial innovation, speculation and outsourcing) might generate income without adding value; and examines equity markets’ role in valuation.

Suggested Citation

Mazzucato, Mariana and Shipman, Alan, Accounting for Productive Investment and Value Creation (October 01, 2013). SWPS 2013-09, Available at SSRN: https://ssrn.com/abstract=2736834 or http://dx.doi.org/10.2139/ssrn.2736834

Mariana Mazzucato (Contact Author)

University of York - Social Policy Research Unit (SPRU) ( email )

United Kingdom

HOME PAGE: http://www.sussex.ac.uk/spru/people/peoplelists/person/111262

University of Sussex ( email )

Sussex House
Falmer
Brighton, Sussex BNI 9RH
United Kingdom

Alan Shipman

The Open University ( email )

Walton Hall
Milton Keynes, MK6 7AA
United Kingdom

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