Blueprint for improved measurement of the international ocean economy An exploration of satellite accounting for ocean economic activity
Sustainably managing the ocean requires reliable measures of the ocean’s contributions to society and the effects that human activities have on the marine environment. This paper informs current international discussions on the measurement of ocean economic activities. It summarises the extent to wh...
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| Published in | IDEAS Working Paper Series from RePEc Vol. 2021; no. 4; pp. 1 - 67 |
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| Main Authors | , , |
| Format | Paper |
| Language | English |
| Published |
Paris
OECD Publishing
02.04.2021
Organisation for Economic Cooperation and Development (OECD) Federal Reserve Bank of St. Louis |
| Subjects | |
| Online Access | Get full text |
| ISSN | 1815-1965 |
| DOI | 10.1787/aff5375b-en |
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| Abstract | Sustainably managing the ocean requires reliable measures of the ocean’s contributions to society and the effects that human activities have on the marine environment. This paper informs current international discussions on the measurement of ocean economic activities. It summarises the extent to which the ocean is crucial to society, outlines national approaches to measuring ocean economies, establishes an OECD definition of ocean economic activities for statistical purposes, and introduces a plan to improve international ocean economy statistics through the pragmatic development of satellite accounts. By measuring the full range of ocean economic activities, this framework will improve evidence on ocean sustainability and lay the foundations for ocean accounts that include economic-environmental linkages. |
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| AbstractList | The ocean is crucial to human wellbeing. It enables many important economic activities and provides a vast and extraordinary array of natural assets and environmental services. The ocean economy should be thought of as a complex system of interactions between ocean economic activities and the marine environmen, in which all elements are interlinked and interdependent. Changes in one generate effects in the other, impacting economic, social and environmental outcomes in fundamental and dynamic ways. Yet the ocean economy remains poorly understood and information concerning changes in its state tends to be less visible than in other areas crucial to global opportunity, prosperity and stability. OECD estimates suggest that uses of the ocean have increased in recent decades, with some ocean economic activities having increased dramatically so. The ocean is becoming ever more important as a source of food for growing human populations, as a source of fossil fuels, renewable energies, and minerals, as a means of transport crucial for maintaining the global trading system, and as a popular place for holidays and leisure pursuits. It is also becoming clear to ocean scientists and those that use the ocean regularly that the health of the marine environment, the activities that depend on it, and the services that it provides are under threat from a multitude of anthropogenic influences. The overwhelmingly negative effects of climate change and biodiversity loss are being felt on marine ecosystems globally. Combining reliable and comparable ocean economic data with marine environmental data holds great promise for improving the sustainability of the ocean economy. The objective of all ocean economy measurement strategies should be the production of a statistical information system that measures the multitude of ways the ocean contributes to wellbeing and the impacts that economic activities have on the marine environment. The measurement of ocean economic activity and, in particular, the methods by which statistics on ocean economic activity can be improved internationally are the subject of this paper. Without better ocean economic data, decision takers will not have access to the information required to design and pursue policies that drive a more sustainable ocean economy. A key condition for better measurement of ocean economic activity must be that the framework adopted to produce statistics enables economic data to be compared with environmental data going forward. Current measurements of ocean economic activity are limited by the challenge of isolating ocean economic activities within broad, aggregated, categories of economic statistics. As a result, statistics on ocean economic activities tend to be incomplete and incomparable with data on the rest of the economy. The methods pursued in national studies of ocean economic activity tend to fall into three groups: identification of direct economic contributions in the results of surveys conducted by national statistical offices and/or ad-hoc specialised surveys; economic modelling of direct, indirect and induced impacts through input-output models; and development of ocean economy satellite accounts in line with the core national accounting system. At international level, consistent and comparable data are available for only a handful of ocean economic activities. In order to improve international ocean economy statistics, this paper establishes a precise definition of ocean economic activities for comparative statistical purposes. Definitions of economic sectors are important in as much as they set the boundaries for the activities and products that are to be considered in the collection and calculation of detailed economic statistics. This paper also establishes detailed lists of activities and products, to be used in future international ocean economy statistics and in accordance with the appropriate international classification standards. The lists of classifications provides a starting point, but any activity that falls within the following definition should be counted as part of the ocean economy. Building on a large consultation effort, the OECD definition ascertains that the ocean economy includes economic activities that: * take place on or in the ocean; * produce goods and services primarily for use on or in the ocean; * extract non-living resources from the marine environment; * harvest living resources from the marine environment; * use living resources harvested from the marine environment as intermediate inputs; * would likely not take place were they not located in proximity to the ocean; or, * gain a particular advantage by being located in proximity to the ocean. Satellite accounting frameworks that collect and compile comparable data on ocean economic activity in a supply and use framework offer an opportunity for improved understanding of ocean economies and enhanced evidence-based policymaking. The benefits of the satellite accounting approach to ocean economy measurement are profound. The production of statistics that are comparable with those published in the national accounts, reducing the risk of double-counting and over-estimating values, is crucial for providing reliable and trusted analyses of the performance of the ocean economy in comparison with other sectors. Insight on interlinkages between activities within and beyond the ocean economy, better understanding of the uses of ocean goods and services, and reliable economic data stewardship are further key benefits. Given these advantages, a growing number of countries, including Portugal and the United States, have produced or are in the process of producing ocean economy satellite accounts. Experimentation with an OECD international satellite account for ocean economic activities may prove transformative for statistics that are comparable across countries, enabling a range of economic analyses that are at present difficult to achieve. It will also contribute to supporting and enhancing ocean economy measurement efforts at national levels. Compiling international accounts would enable a large number of internationally comparable experimental aggregates to be calculated including the gross value added of ocean economic activities and their contribution to GDP. The data would be comparable with the OECDs national accounts data. And would in turn enable experimentation with the production of ocean economy data that are comparable with the statistics produced by the OECD on the structure of its member countries economies through the Structural Analysis (STAN) family of databases. These databases allow for the calculation of a range of statistics - such as productivity growth, structural change and trade in value added - and are used by analysts globally. Initial OECD accounts for ocean economic activity should be seen as a step towards more complete ocean accounts, including marine environmental-economic linkages and accounts for marine ecosystem services. Eventually, the ability to account for marine natural assets and many important marine ecosystem services will become a practical reality, at least in physical terms. Satellite accounts that provide regular, reliable and comparable statistics on both ocean economic activity and marine economy-environment linkages would provide a robust tool for measuring the sustainability dimensions of the ocean economic activities. Sustainably managing the ocean requires reliable measures of the ocean’s contributions to society and the effects that human activities have on the marine environment. This paper informs current international discussions on the measurement of ocean economic activities. It summarises the extent to which the ocean is crucial to society, outlines national approaches to measuring ocean economies, establishes an OECD definition of ocean economic activities for statistical purposes, and introduces a plan to improve international ocean economy statistics through the pragmatic development of satellite accounts. By measuring the full range of ocean economic activities, this framework will improve evidence on ocean sustainability and lay the foundations for ocean accounts that include economic-environmental linkages. |
| Author | Jolly, Claire Stevens, Barrie Jolliffe, James |
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| Copyright | Copyright Organisation for Economic Cooperation and Development (OECD) 2021 2021. Notwithstanding the ProQuest Terms and conditions, you may use this content in accordance with the associated terms available at https://research.stlouisfed.org/research_terms.html . |
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| Snippet | Sustainably managing the ocean requires reliable measures of the ocean’s contributions to society and the effects that human activities have on the marine... The ocean is crucial to human wellbeing. It enables many important economic activities and provides a vast and extraordinary array of natural assets and... |
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| SubjectTerms | Accounting Anthropogenic factors Biodiversity Biodiversity loss Climate change Climate effects Complex systems Economic activity Economic analysis Economic conditions Economic impact Economic models Economic sectors Economic statistics Economics Ecosystem services Environmental economics Environmental services Experimentation Fossil fuels Holidays & special occasions Human influences Human populations Linkages Marine ecosystems Marine environment National accounts Ocean models Renewable energy Risk reduction Statistical methods Statistics Structural analysis Sustainability Value added Well being |
| Subtitle | An exploration of satellite accounting for ocean economic activity |
| Title | Blueprint for improved measurement of the international ocean economy |
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