Latin America: Highlights from the implementation of the System of National Accounts 1993

This paper reviews the Latin American experience with the implementation of the 1993 System of National Accounts and the updating of the national accounts’ base year. It also makes a preliminary assessment of the possible measurement biases in nominal gdp estimates stemming from the use of outdated national accounts base years, downward biases in household final consumption estimates, and an overestimation of gross fixed capital formation in construction activities.