What has Capital Liberalization Meant for Economic and Financial Statistics
IMF Working Papers, April 30, 2015
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- What has Capital Liberalization Meant for Economic and Financial Statistics
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Bibliographic details
- Authors: Robert M Heath
- Published: April 30, 2015
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781475520965.001
Overview
- Author: Robert M Heath
- Date: April 30, 2015
- Series: Working Paper No. 2015/088
- Issue: 088
- Volume: 2015
- Pages: 31
- DOI: https://doi.org/10.5089/9781475520965.001
- Stock No: WPIEA2015088
- ISBN: 9781475520965
- ISSN: 1018-5941
Historical context
- The liberalization of capital flows both in the domestic economy and cross-border has been among the most important policies adopted by IMF member countries over recent decades.
- Statisticians have responded to the changing policy needs over the past two decades.
Key trends identified
- There has been nothing short of a revolution in the field of economic and financial statistics over the past two decades driven by:
- Greater transparency.
- Greater standardization.
- New data sets to support understanding of financial interconnections and financial sector risks.
- Strengthening of the governance of the statistical function through greater independence of statistical agencies.
Areas of impact on statistical practices
- Balance of payments and capital account statistics.
- Economic and financial statistics more broadly, including financial statistics.
- Data dissemination practices and adherence to dissemination standards, including the Special Data Dissemination Standard (SDDS).
- Development of datasets aimed at revealing financial interconnections and assessing financial sector risks.
Subject and keywords (as listed in the source)
- Subject: Balance of payments, Capital account liberalization, Data dissemination, Economic and financial statistics, Financial statistics, Special Data Dissemination Standard (SDDS)
- Keywords: a number of economy, balance of payments compiler, capital account liberalization, Data dissemination, data dissemination standard, data dissmination standards, economic statistics, economy, financial crisis, financial interconnections, financial sector, Financial statistics, GDDS country, Global, Group of Twenty, IMF paper, IMF staff in consultation, IMF surveillance, leading indicator, liberalization, market, market reaction, policy interest, SDDS requirements, SDDS subscription, Special Data Dissemination Standard (SDDS), transparency, world balance of payments system, WP
Summary findings and implications
- Capital liberalization has produced wide-ranging impacts on the field of economic and financial statistics.
- Statisticians have adapted by producing new statistical tools and governance arrangements to meet needs for transparency, standardization, and analysis of financial linkages and risks.
- The trends observed are positioned to continue shaping the foreseeable future of economic and financial statistics.
Source: IMF Working Paper "What has Capital Liberalization Meant for Economic and Financial Statistics" by Robert M Heath (2015).