Using the income approach to calculate the voluntary sector's economic contribution to gross domestic product: a welsh case study

Journal article


Hasan, Mehdi and Binsardi, Ben 2014. Using the income approach to calculate the voluntary sector's economic contribution to gross domestic product: a welsh case study. Contemporary Wales.
AuthorsHasan, Mehdi and Binsardi, Ben
Abstract

Assessing the economic contribution of the voluntary sector to gross domestic product can be considered methodologically as an under-researched area in the UK, since the majority of research work lacks detailed methodology, including unclear sampling procedures, questionable analytical techniques and unverified data sources. Notably, earlier studies mainly focused on approaches to estimate volunteers’ economic contribution, rather than discussing main economic models to measure overall income variables of the sector. Therefore, this article is expected to fill a gap in the literature by taking into account all possible income components of the sector, including factor payments, as the total income of the voluntary sector. An earlier study (Hasan, 2008) was conducted on the Wrexham voluntary sector to verify the applicability of the income approach. The main difficulties of Hasan’s research were twofold: there were insufficient data sources and there was reluctance on the part of voluntary organizations to supply monetary information. However, the earlier study recommended that the income approach gave the sector more accurate estimates (while not overly under- or over-estimating) when complete information regarding income, expenditure and volunteers’ hourly contribution were properly considered. Accordingly, this paper critically explores the utility of the income approach.

KeywordsThird Sector, GDP, Knowledge management
Year2014
JournalContemporary Wales
PublisherUniversity of Wales Press
ISSN09514937
Web address (URL)http://hdl.handle.net/10545/623970
hdl:10545/623970
Publication dates01 Jul 2014
Publication process dates
Deposited05 Jul 2019, 10:40
Accepted2014
ContributorsGlyndwr University
File
File Access Level
Open
File
File Access Level
Open
Permalink -

https://repository.derby.ac.uk/item/92976/using-the-income-approach-to-calculate-the-voluntary-sector-s-economic-contribution-to-gross-domestic-product-a-welsh-case-study

Download files

  • 6
    total views
  • 0
    total downloads
  • 0
    views this month
  • 0
    downloads this month

Export as

Related outputs

Status and health risk assessment of heavy metals in vegetables grown in industrial areas of Bangladesh
Islam, M., Ahmed, W., Rabin, M., H., Razzaque, A., Hasan, M., Siddika, M. and Zamil, S. 2022. Status and health risk assessment of heavy metals in vegetables grown in industrial areas of Bangladesh. International Journal of Environmental Analytical Chemistry. https://doi.org/10.1080/03067319.2022.2118590