Integrating Framework for Short-Term Statistics in Economic Analysis

Policy makers and stakeholders rely on timely and coherent short-term statistics to monitor economic performance, evaluate policy effectiveness, and formulate appropriate monetary and fiscal strategies. The System of National Accounts (2008 SNA) provides a comprehensive framework for compiling and analyzing short-term statistics to support economic analysis and policy development.

• Short-term statistics
• Economic analysis
• Policy formulation
• System of National Accounts
• Statistical framework

tarianaza Follow

Uploaded on Oct 01, 2024 | 0 Views

Download Presentation

Please find below an Image/Link to download the presentation.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.

Presentation Transcript

1. Developing a short-term statistics implementation programme Regional workshop on short-term economic indicators and service statistics to support 2008 SNA implementation 25-27 September 2017 Chiba, Japan Herman Smith United Nations Statistics Division

2. Outline of presentation Integrating framework for short-term statistics Developing a short-term statistics implementation programme Integrated statistics approach Summary Conclusions 2

3. Integrating framework for short-term statistics Policy makers and other stakeholders require a consistent and coherent understanding of the short-term performance of the economy This implies the need for timely, consistent and coherent statistics to Monitor progress Evaluate whether policy goals are being achieved Formulate and implement appropriate monetary and fiscal policies to respond to changes in the economy 3

4. Integrating framework for short-term statistics To achieve this implies the need for a statistical framework that can organize, integrate and reconcile most of the short-term statistics The statistical framework also needs to provide data of sufficient scope, detail, quality and timeliness 4

5. Integrating framework for short-term statistics The System of National Accounts (SNA) ensures that the compilation of short-term statistics is conceptually consistent with economic theory Ensures consistency of concepts, definitions and classifications used in different but related fields of short- term statistics Serves as accounting framework to ensure numerical consistency of data from various sources Consequently, the SNA provides an overarching integrating framework for compiling short-term statistics to facilitate economic analysis and policy formulation Latest version is the 2008 SNA 5

6. Integrating framework for short-term statistics SYSTEM OF NATIONAL ACCOUNTS ECONOMIC ISSUES ECONOMIC THEORY Concepts and definitions Policies and perspectives Indicators Accounts Basic data and statistics 6

7. Developing a short-term statistics implementation programme Principles The success and sustainability of an implementation programme for short-term statistics depends on the following principles: Strategic planning Coordination, monitoring and reporting Improving statistical systems 7

8. Developing a short-term statistics implementation programme Elements to operationalize the principles Strategic planning framework: National Strategy for the Development of Statistics (NSDS) as the strategic planning framework and statement of strategy Programme information structure: Facilitates co- ordination, monitoring and reporting on status of compilation of short-term statistics Modalities: Centralized data hub, modernization of the national statistical system using an integrated statistics approach and advocacy 8

9. Developing a short-term statistics implementation programme What do countries need to do? Identify the policy needs to determine what short-term statistics to produce Assess the adequacy of the statistical production process to provide the required data for the compilation of the short-term statistics Identify the required actions for implementation Develop a statement of strategy 9

10. Developing a short-term statistics implementation programme Statement of strategy Involves the use of a strategic planning framework to develop a short-term statistics programme to meet policy needs Is a set of actions to accomplish statistical and institutional goals for the sustainable improvement of the short-term statistics programmes 10

11. Developing a short-term statistics implementation programme Statement of strategy takes into account Policy documents, NSDS, etc. Regional strategic frameworks for statistical capacity building Regulatory and institutional framework Statistical infrastructure Statistical operations 11

12. Developing a short-term statistics implementation programme Statement of strategy required actions Regulatory and institutional framework strengthen the functioning of national statistical system, its programming, management and performance 12

13. Developing a short-term statistics implementation programme Statement of strategy required actions Statistical infrastructure strengthen the use of Standards: 2008 SNA, Balance of Payments Manual 6 (BPM 6), Government Finance Statistics Manual 2014 (GFSM 2014), Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG) Classifications: International Standard Industrial Classification of All Economic Activities, Revision 4 (ISIC Rev 4) International recommendations: International Recommendations for Industrial Statistics 2008, International Recommendations for Distributive Trade Statistics 2008, Handbooks on Economic Tendency Surveys, Cyclical Composite Indicators, Rapid Estimates, Data Template and Metadata for Short-Term Statistics, Residential Property Price Indices, Registers and frames: Wiesbaden Group on Business Registers, UNECE s Guidelines on Statistical Business Registers 13

14. Developing a short-term statistics implementation programme Statement of strategy required actions Statistical operations strengthen data collection, compilation, dissemination and analysis based on International standards Classifications International recommendations and best practices 14

15. Developing a short-term statistics implementation programme Tools to develop statement of strategy Statistical system information Country fact sheet See http://unstats.un.org/unsd/nationalaccount/cProfile.asp Self assessment questionnaire to assess the adequacy of the statistical production process to compile the short- term statistics See annex 6.1 of data template handbook on http://unstats.un.org/unsd/nationalaccount/consultationDoc s/Data_template_draft.pdf 15

16. Developing a short-term statistics implementation programme Tools to develop statement of strategy country fact sheet Use a country fact sheet to facilitate the assessment and assist in developing the statement of strategy Allows for collating information available at the national level and at various international organizations on the national statistical system Overview of the national policy priorities and national plans Overview of policy and statistical initiatives of international and regional organizations into a single framework 16

17. Developing a short-term statistics implementation programme Tools to develop statement of strategy self assessment questionnaire Countries can use the self assessment questionnaire to evaluate the adequacy of the institutional arrangements and statistical production process to produce the short- term statistics in the data template Helps to assess the gap between where you are now and where you want to be Facilitates development of a national data hub 17

18. Developing a short-term statistics implementation programme Statement of strategy consolidation Goals as determined by international recommendations and policy needs compliance Requirements to meet goals administrative and survey resources Current status present practices Data gaps issues to be addressed Actions to remedy the shortcomings 18

19. Developing a short-term statistics implementation programme Action plan Indicates the interventions to be carried out with a timetable to mitigate data gaps Provides an information structure for monitoring and evaluating the status of the compilation of short-term statistics Needs to be Specific, Measurable, Achievable, Relevant and be executed in a particular Time scale Each of the required actions needs to include key features and key deliverables 19

20. Integrated statistics approach Scope of programme goes beyond the production of short- term statistics to also cover the statistical production process of basic statistics and to aspects of the institutional environment It is, thus, based on an integrated statistics approach which Produces statistics that present a consistent and coherent picture of economic activities for policy, business and other analytical uses Uses common concepts, definitions, estimation methods and data sources for statistical reconciliation Moves away from a narrow stove-pipe statistical production model to cross-functional holistic model 20

21. Integrated statistics approach Building blocks Common conceptual framework provided by the SNA Institutional arrangements (legislative, organizational, budgetary, managerial and customer relationship arrangements) further support the environment for integration Statistical production process as an integrated production chain from the collection of basic data to the dissemination of statistics 21

22. Integrated statistics approach Dissemination Macroeconomic accounts Outputs / Household and demographic statistics Economic & environmental statistics Statistical operations Data integration Inputs Data processing Data collection Registers and frames Surveys Statistical infrastructure Standards and methods Information, Communication Technology (ICT) Institutional setting Management and internal policy Institutional arrangements 22

23. Summary National statement of strategy National policy development plans, NSDS, etc. Assessment Decide on the type of short-term statistics to compile Assessment of the NSS to support short-term statistics compilation Regional strategic frameworks for statistical capacity building Where are we now COUNTRY OWNERSHIP Setting goals Where we want to be Political Commitment Statistical capacity Action plan Support from regional and international organizations Actions to reach goals Implementation How to stay there How to get there 23

24. Conclusions Statement of strategy Is an important document detailing steps and resources required to improve the timeliness and quality of short- term statistics which fully meet policy needs and comply with international standards Requires agreement by the national statistical system (data producers, providers and users), high political support and donor consultation Basis for formulating a national implementation programme Basis for actively seeking funding for implementation programmes from own sources and donors 24

25. Thank you 25