moving into the 21 st century: development and progress on data communication esds international...
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Moving into the 21st Century:Development and Progress on
Data Communication
ESDS International Annual Conference
London, December 1, 2008
Agenda
♦ Current environment
♦ Recent financial crisis and macro-economic statistics
♦ Developments in datasets
♦ Developments in projects
♦ Questions
The Current Environment
“Traditional” products in print, online, & CD-ROM
♦ Balance of Payments Statistics ♦ Direction of Trade Statistics♦ Government Finance Statistics♦ International Financial Statistics
Supporting statistical materials in print and on web
♦ Manuals and Guides♦ Pamphlets♦ Official Reports
The Current Environment
Online products but in different formats
♦ IFS, BOP, DOT, GFShttp://www.imfstatistics.org/imf/
♦ Static online tables:- International Reserves - Coordinated Portfolio Investment Survey (CPIS)- Currency Composition of Foreign Exchange Reserves (COFER)
♦ FTP site for large data downloads♦ Data Mapper at http://www.imf.org/
Analyze Recent Financial Crisis with Economic and Financial Statistics
Salient recent features captured by
macro-economic and financial data
♦ Growth in monetary aggregates
♦ Increasing leverage by financial institutions
♦ Imbalances in current accounts
♦ Fiscal deficits
♦ Growing net international investment positions
2008 Developments
Government Finance Statistics
♦ GFS online was launched in October 2008
♦ High frequency government finance statistics
- Started publishing in IFS August 2007 issue
- Expansion of country reporting
- Improvement of data timeliness
2008 Developments
Monetary and Financial Statistics
♦ Standardized Report Forms (SRFs)- Developed a coherent and standard framework for reporting monetary data across countries- SRFs present monthly data with a high level of details- An Integrated Monetary Database (IMD) provides common data sources to compile monetary statistics that satisfy the operational and publication needs of the country and the IMF
♦ Balance Sheet Approach (BSA)- Currency and instrument breakdowns in SRFs help to identify currency and capital structure mismatches and generate balance sheet approach matrix
♦ Financial Soundness Indicators (FSI)- Work is underway to initiate regular data collection and dissemination
2008 Developments
General Other depository Other financial Nonfinancial Other resident Central bank government corporations corporations corporations sectors Nonresidents
Central bank
Generalgovernment
Other depository corporations
Other financial corporations
Nonfinancial corporations
Other resident sectors
Nonresidents
Holder of liability
(creditor)Issuer of liability (debtor)
Balance Sheet Approach (BSA)
2008 Developments
MODEL FOR SRF DATA FLOW
STANDARDIZED REPORT FORMS, 1SR, 2SR, 4SR, and 5SR
IFSIFS
Supplement
STA PublicationsArea Department
Work (IMD)National
PublicationsBalance Sheet
Approach (BSA)
2008 Developments
Balance of Payments Statistics
♦ Completion of 2008 BOP Yearbook- It provides detailed tables on balance of payment statistics for 174 countries and international investment position data for 116 countries- 2007 data will show up in Data Mapper in early December- IIP world tables
♦ Expanded Coordinated Portfolio Investment Survey (CPIS) coverage http://www.imf.org/external/np/sta/pi/datarsl.htm
♦ Reserve Template and Currency Composition of Foreign Exchange Reserves
♦ Future development- BPM6- Coordinated Direct Investment Survey (CDIS)- Link the BSA with the “to-whom from-whom” datasets
2008 Developments
Changes to the STA Group Aggregates: Aligning with the WEO Group Definitions
♦ December 1, 2008Publish BOPSY 2008 with the new aggregates
♦ January 2, 2009Publish January 2009 issue of IFS with the new aggregates
♦ February 1, 2009Publish GFSY 2008 with the new aggregates
♦ March 1, 2009Publish Q1 2009 issue of DOT with the new aggregates
♦ March 31, 2009Publish COFER data through Q4 2008 with the new aggregates
2008 Developments Changes to the STA Group Aggregates: Aligning
with the WEO Group Definitions (Continued)
Old Group Aggregates New Group Aggregates World (001) World (001) Industrial Countries (110) Advanced Economies (110) Developing Countries (200) Emerging & Developing Economies (200) Africa (605) Africa (605) Asia (505) Developing Asia (505) Europe (170) Emerging Europe (170) - Central & Eastern Europe (904) - CIS & Mongolia (901) Middle East (405) Middle East (405) Western Hemisphere (205) Western Hemisphere (205) Oil Exporting Countries (999) Export Earnings: Fuel (080) Non-Oil Developing Countries (201) Export Earnings: Nonfuel (092)
2008 Developments
Change the Baseyear to 2005
♦ Update the PPP-GDP weights with 2005 as the reference year
♦ Baseyear change from 2000=100 to 2005=100 for the index series
♦ Complete the rebasing by May 2009 and publish the data with 2005 as the baseyear in June 2009 IFS
2008 Developments
Data Dissemination Projects
♦ Economic Data Warehouse (EDW)
- IMF.Stat
♦ Economic Data Dissemination (EDD)
IMF Economic Information Management Environment
IMF.ORGStatisticsPortalOnlineDatabases
Publications
Pub.Stat?
DataDisseminati
on
DataWarehousing
DataCollection
National SourcesICS (Excel/ SDMXML)
Area DeptsDMX/Other
DataManagement
Research Prognoz
CD ROM
StatisticsEDF/ DMX
Int’l OrganizationsOECD, World Bank,
etc.
CommercialBloomberg, Global Insight,
Haver Analytical, etc.
Publishable DataIFS, WEO, REOs, etc.
Internally Shared Data
Area & Functional Depts.,
National Sources, Intl’l Organizations,Commercial SourcesLimited Sharing
WEO-related, etc.
IMF.Stat
SDMX
Fund-wide Metadata Standards (MetaStore, DSBB, SchemaLogic)
Key Driving Initiatives SDMX WEO Production Redesign
Structural Metadata (SchemaLogic)
Economic Data Dissemination
Data Analysis/ Visualization
Econometric ToolsFame, Eviews,Stata 8
Dynamic/InteractiveGraphicsIMF Data Mapper
EDW: What is IMF.Stat?
♦ Software developed by OECD
♦ Took the database, browser and other tools
♦ Now working together in a joint effort to enhance the product
♦ Have a Memorandum of Understanding (MOU) which describes the arrangement
EDW: Access to data
♦ Currently available internally, though likely to be available externally in future
♦ Data available through - A web browser
• Ad hoc queries• Saved queries• Export to Excel• Bulk export (CSV)
- Excel populator • Allows data to be refreshed directly
from Excel
EDD: How to Serve Different Types of Users
♦ Five user “mindsets” that our research suggests users approach our data with:– Advisor and Decision Maker (Use Me)– Researcher (Scoop Me)– Report Compiler (Report Me)– Model Feeder (Consume Me)– Storyteller (Show Me)
EDD: How to Find the Data
Show Me Find Me
Sco
op M
e
Rep
ort
Me
Con
sum
e M
e
Storyteller
Advisor andDecision Maker
Researcher Report Compiler Model Feeder
Use
Me
Find MeLite
Data Entrance (IMF.org, e-Library, e-Bookstore)
From other pages and sites
EDD: Next Steps
♦ Develop detailed requirements, including usability, functional and IT requirements
♦ Select specific IT solution(s) for the dissemination environment, using a Request for Proposal process by April 2009
♦ Implement the dissemination system by April 2010
Questions?
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