The Reliability of China's Economic Data

There have long been concerns about the reliability of published macroeconomic data for China. About 3 months ago, the U.S. - China Economic and Security Review Commission published a timely report, titled, "The Reliability of China's Economic Data - An Analysis of National Output". The report certainly makes interesting reading.

In a post earlier today I warned about the importance of data quality. When the data relate to an economy that's size and importance as that of China, then it's time to sit up and take notice!

Data Quality is Paramount

Yesterday, in a post on the Worthwhile Canadian Initiative, Frances Woolley rightly drew attention to some rather disturbing issues associated with the upcoming release of the 2011 National Household Survey (NHS), by Statistics Canada. In a nutshell, she asks the question, "How can we be sure that the NHS information about the religious beliefs of Canadians is accuarate?"

Recently, I made the comment: Data - the econometrician's lifeblood! Can't function without it." I wish I'd been more specific, and said "reliable data."