IMF Executive Board Discusses Measuring the Digital Economy
IMF News, April 5, 2018
Source details
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- IMF Executive Board Discusses Measuring the Digital Economy
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Bibliographic details
- Published: April 5, 2018
Event and publication details
- Press Release No. 18/122
- Date: April 5, 2018
- Media Relations Press Officer: Pemba Tshering Sherpa
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- Board discussion date: March 28, 2018
Scope and focus of the staff paper
- The paper assesses the current state of play in measurement of the digital sector in macroeconomic and financial statistics.
- It focuses on a digital sector comprising the producers at the core of digitalization: online platforms, platform-enabled services, and suppliers of Information and Communications Technology goods and services.
- The paper proposes a perimeter for the digital sector, distinguishing it from the broader digital economy.
Core analytic themes addressed
- Inter-related core aspects examined:
- GDP
- Welfare
- Globalization
- Productivity
- The paper analyzes challenges in measuring the economic and financial activity related to the digital sector by systematically reviewing the state of play of statistics on:
- Prices
- National accounts
- External sector
- Monetary and financial developments
Key findings and observations
- Measuring the digital sector poses measurement challenges across macroeconomic and financial statistics.
- A clear perimeter for the digital sector is proposed to separate it from the broader digital economy.
- Improving access to data is central to overcoming measurement challenges.
Policy recommendations and steps proposed
- Improve statistics agencies’ access to administrative data:
- Administrative data defined as data collected by or available in government agencies as an integral part of their regular activities.
- This requires cooperation of national government agencies.
- Improve access to “Big Data” through partnerships:
- Cooperation should extend to partnerships between the private and the public sectors, including international organizations.
Notable quote
- “The paper proposes a perimeter for the digital sector, distinguishing it from the broader digital economy” — Gabriel Quirós, Deputy Director of the IMF Statistics Department.
IMF Executive Board Discusses Measuring the Digital Economy — Press Release No. 18/122 (April 5, 2018)