Data Dissemination Standards and the Statistical Quality of the IMF’s World Economic Outlook Forecasts

An application of Quality tools (stat) in order to provide Management decisions

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Abstract
This paper analyzes the effects of IMF member countries participation in the IMF’s Data Standards Initiatives (DSI) on the statistical quality of WEO forecasts. Results show that WEO forecasts for SDDS subscribers are in general better than for GDDS participants and those member countries than do not participate in the DSIs. Policy implications are that the DSI positively affect the statistical quality of forecasts and by extension improve the necessary conditions for multilateral surveillance and the provision of member countries with high quality policy advice.
JEL Classification Numbers:C13, C46, C80, C82
Keywords: Data quality, data dissemination standards, forecasting, WEO
Author’s E-Mail Address:mmrkaic@imf.org