What Has Capital Liberalization Meant for Economic and Financial Statistics

32 Pages Posted: 26 May 2015

See all articles by Robert Heath

Robert Heath

International Monetary Fund (IMF)

Date Written: April 2015

Abstract

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. The impact has been wide-ranging. This paper looks at the impact on the field of economic and financial statistics in the past two decades, as statisticians have responded to the changing policy needs. The paper considers the historical context of changes that have occurred, draws out the key trends, and asks where these trends might lead statisticians in the foreseeable future. The paper considers that there has been nothing short of a revolution in the field of economic and financial statistics over the past two decades led by a need for greater transparency; greater standardization; new data sets to support understanding of financial interconnections and financial sector risks; and the strengthening of the governance of the statistical function through greater independence of statistical agencies.

Keywords: Capital flows, Capital account liberalization, Economic data and statistics, Financial statistics, Data collection, Transparency, data dissmination standards, Group of Twenty, financial sector, financial interconnections., investment, financial stability, monetary fund, balance of payments, exchange

JEL Classification: C00

Suggested Citation

Heath, Robert, What Has Capital Liberalization Meant for Economic and Financial Statistics (April 2015). IMF Working Paper No. 15/88, Available at SSRN: https://ssrn.com/abstract=2609672

Robert Heath (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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