Data Transparency and Growth in Developing Economies during and after the Global Financial Crisis
The study explores the effects of data transparency on economic growth for developing economies over a unique time period — at the onset of the 2007–2009 global financial crisis and thereafter. Data transparency is defined as the timely production of credible statistics as measured by the Statistical Capacity Indicator. The paper finds that data transparency has a positive effect on real gross domestic product per capita during a period of considerable uncertainty. The estimates indicate an elasticity of the magnitude of 0.03 percent per year, which is much larger than the elasticity of trade openness and schooling in the estimation sample. The empirics employ a variety of econometric estimators, including dynamic panel and cross-sectional instrumental variables estimators, with the latter approach yielding a higher estimated elasticity. The findings are robust to the inclusion of several factors in addition to political institutions and exogenous commodity-price and external debt-financing shocks.
| Main Authors: | , |
|---|---|
| Format: | Working Paper biblioteca |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2024-07-01
|
| Subjects: | DATA TRANSPARENCY, STATISTICS, ECONOMIC GROWTH, DECENT WORK AND ECONOMIC GROWTH, SDG 8, DETERMINANTS OF ECONOMIC GROWTH, REAL GROSS DOMESTIC PRODUCT, DATA COLLECTION ACTIVITY, QUALITY OF DATA, |
| Online Access: | http://documents.worldbank.org/curated/en/947471607543857349/Data-Transparency-and-Growth-in-Developing-Economies-during-and-after-the-Global-Financial-Crisis https://hdl.handle.net/10986/41802 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | The study explores the effects of
data transparency on economic growth for developing
economies over a unique time period — at the onset of the
2007–2009 global financial crisis and thereafter. Data
transparency is defined as the timely production of credible
statistics as measured by the Statistical Capacity
Indicator. The paper finds that data transparency has a
positive effect on real gross domestic product per capita
during a period of considerable uncertainty. The estimates
indicate an elasticity of the magnitude of 0.03 percent per
year, which is much larger than the elasticity of trade
openness and schooling in the estimation sample. The
empirics employ a variety of econometric estimators,
including dynamic panel and cross-sectional instrumental
variables estimators, with the latter approach yielding a
higher estimated elasticity. The findings are robust to the
inclusion of several factors in addition to political
institutions and exogenous commodity-price and external
debt-financing shocks. |
|---|