Tragic Lack of Reliable Economic Data Hinders Policy Decisions in Healthcare, Education, and Government
The article discusses how improving economic statistics can help enhance economic policy and research. It focuses on sectors like healthcare, education, and government administration, which lack clear and reliable statistical information. The study finds that the current data on GDP, inflation, and productivity growth rates in these sectors are unclear and not disclosed properly. Despite strong government regulations, there is a lack of reliable statistics in these areas, which is crucial for policy evaluation. The researchers emphasize the need for better deflators, information on firm sizes, productivity rates, and sectoral efficiency in these important sectors.