1. Contact: nadim.ahmad@oecd.org
OECD Survey on Land 2008 SNA Implementation Workshop Paris, October 2011
Contact:

2. Background
Not the first time that the measurement of land has caused concern
Discussed on numerous occasions in previous WP meetings.
And land has always been important
Environmental accounting
GDP (via user cost approach for imputed rent)
Growth accounting
But the need for robust estimates has heightened:
Financial crisis information gaps (G20 Recommendation 15)
Focus on household wealth
Produced land in the 2008 SNA
Re-emphasised at
2010 WPs on Financial Statistics and National Accounts 2010
CSTAT 2011

3. Survey Results – Balance sheets
23 countries responded
5 (Cze, Fin, Fra, Jpn, Mex) produce full balance sheets by detailed land type
Land underlying buildings
Land under cultivation
Recreational land and associated surface water
Other land and associated surface water
5 produce partial info (Can, Ita, Kor, Nld, Swe)
Many others have plans to do so.
Appears to be inconsistent treatment of produced land in balance sheets – some countries include it under land, others under other fixed assets.

4. Survey Results – Produced land
1 country covers all land categories (Svn)
10 cover parts (Can, Fin, Fra, Isr, Ita, Nld, ior, Pol, Prt, and Swe).
Valuation:
Investment
Survey - Can, Cze, Fra, Nld, Pol,Prt
Commodity Flow – Jpn
Input costs - Swe
Balance sheets
PIM: Can (linear depreciation), Cze, Fra, Nld
Values – Jpn, Pol

5. Survey Results – Sectors
Balance sheet
Full split by land-type/sector:
Can, Cze, Fra, Ita, Nld produce detailed split.
Partial (total land) by sector:
Jpn, Kor, and Swe
Investment
Full sectoral accounts by land type in Slv
Partial in Can, Fra, Mex, Nld, Pol and Prt.

6. Land under buildings - methods
Ratios:
Can, Fra, Ita (part), Prt, Svn (owner-occ)
Direct price information
Cze, Jpn
Indirect
(total value minus depreciated building costs) – Ita (part), Nld, Svn (market dwellings), Swe
NPV approach, Mex, Nld (part non-res)
Chl does not include value of land under buildings and structures

7. Land owned by government
Should be included:
Can, Cze, Dnk, Fin, Fra, Ita, Jpn, Kor, Swe.
Should not be included:
Nld

8. Dealing with volume changes Revaluation vs OCV
Cze, Dnk, Fra, Nld, Swe, Kor (for reclassifications)
Revaluations –
Jpn, Mex, Prt, Swe (when the surrounding land changes)

9. Requests for further work
Measuring land under dwellings
Residual method implies all holding gains/losses end up land. Correct?
Further guidance requested for BS estimation
Identifying and valuing land owned by government
Guidelines for OVC changes not driven by reclassification?
Timing of OVC/Revaluation changes, who benefits?
Suitability of fiscal data as a market price proxy
Extending the production accounts to re-route rent of land to intermediate consumption (for productivity)

10. Going forward?
Results will be written up as a technical paper, which will include an elaboration of the various issues raised by countries – including possible solutions.
A Handbook?