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Articles tagged with: problems with economic data

How Big Is the Saudi Economy? Does the World Bank Know?

By Martin W. Lewis | May 26, 2014 | 2 Comments

Country-level economic data are essential yet often highly uncertain. In April 2014, for example, the official size of Nigeria’s economy increased 89 percent overnight due to a “rebasing” of economic calculations. According to the International Business Times, “Most countries go through this [rebasing] process every five years or so, but Nigeria hasn’t done it since 1990, years before developments like …

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