Ülo Ennuste majandusartiklid

Draft 15.VIII 10, do not quote

 Letter to the Editors of The Financial Times and The Economist

Shouldn’t we consider Polish economics as the best and so Finnish statistics?

 From Prof Ülo Ennuste

 Sir, as everybody is in this August is exceptionally optimistically discussing the Eurostat newsrelease euroindicators 120/2010 – 13 August 2010: „Flash estimates for the second quarter of 2010. Euro area and EU27 GDP up by 1.0%. +1.7% in both zones compared with the second quarter of 2009

 (http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/2-13082010-BP/EN/2-13082010-BP-EN.PDF) mainly in the style as how vigorously and successfully in the II quarter first of all e.g. Germany (3.7%) and Sweden (3.6%) had been going out of crisis, shouldn’t we forget by that that Poland had excellently eschewed this crisis altogether. And shouldn’t we also not forget that simply the national output growth is not enough to say that crisis is over if this is not complemented by recovery of fallen employment and investments (e.g. Estonia +3,5% GDP but still had significant employment decrease taken place ca 6% , not to speek about investments recession and foteign finanacial position retreat).

 And why everybody is avoiding to take notice that Finland’s (domestic estimate 4,8%) and Polish (…) is missing from this newsrelease second quarter column 2010, although e.g. Finland is domestically exceptionally publishing national output growth statistics on-line timely, and not only quarterly basis but very wisely in the crisis conditions even on monthly basis. Perhaps Finns prudently avoided this data publication not to be confusingly taken to be more qualified as Poles in the economic policy and governance, and/or not to put their statistics in the same Table with Greeks, at least without confidence intervals? And perhaps Poles refused to give their relevant data as their second quarter growth rate is absolutely not comparable to the other member countries in this format release – as they superiorly with their high quality economics and economic policy have had by now no dips in this crisis at all.

And most importantly, shouldn’t Commissioner Olli Rehn to start to publish more sophisticated complex tables that conform a bit more to modern political-economics (e.g. as many relevant tables in The Economist: growth, unemloyment, inflation, and + investments and external financial position etc) and statistics and in the dissemination speed context to contemporary information technology  containing quality indicators of the data? At least would be intellectually more interesting to read in this pickled cucumber season.

Ülo Ennuste,

 Tallinn, Estonia

august 15, 2010 - Posted by | Uncategorized

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