Economic Association dedicates 2014 annual sessions to analyse GDP accuracy

Friday, 26 September 2014 00:15 -     - {{hitsCtrl.values.hits}}

The Sri Lanka Economic Association (SLEA) will hold its 2014 Annual Sessions on 24 and 25 October at the Centre for Banking Studies of the Central Bank of Sri Lanka in Rajagiriya. The theme of the Annual Sessions is ‘GDP as a Measure of Quality of Life of a People’. This theme is timely and relevant especially in the context of the Government’s efforts to reach $ 4000 per capita income and overcome the lower-middle Income trap. GDP is the most elusive economic concept. It can mislead and misinterpret facts and status. The SLEA’s Annual Sessions would endeavour to explain, examine and explore the importance as well as limitations of GDP to express the quality of life of people. The merits and demerits of using GDP as a measure of quality of welfare of people have always featured in debate amongst economists worldwide. The SLEA expects to take this debate to a higher elevation during its Annual Sessions. Economists who are serving as academics, researchers, bankers and policymakers will take a critical view on the theme from four different perspectives. Annual Sessions will take a whole day on 25 October and consists of four technical sessions and eight presentations followed by a panel discussion at the end of each session. The sub-themes will focus upon ‘GDP - its Nature and Significance’, ‘Measurement of GDP and its Limitation’, ‘Doubling Per Capita Income as a Target’ and ‘GDP Growth and Development’. Sessions will be inaugurated on 24 October at 4.00 p.m. by former Chairman TVEC and Vice Chancellor of Open University and Moratuwa University Prof. Dayantha Wijesekera. The keynote address will be delivered by former Professor of Economics of Open University and the Central Bank Director of Statistics Dr. S.S. Colombage. The SLEA said it expected a large gathering and requested prospective participants to register early to avoid disappointment.