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The reconstruction of back data for Italy’s balance of payments and international investment position (1970-1999)

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  • Enrico Tosti

    (Bank of Italy)

Abstract

The changeover to the sixth Balance of Payments Manual (BPM6) has meant a significant revision of the international standards for compiling external statistics (flows and stocks). In accordance with international agreements, the reconstruction was carried out starting from 1995 for the balance of payments and from the end of 1998 for the international investment position. This statistical work extends the revision back to 1970 for both of them, using ad hoc estimates when necessary. By and large, the reconstruction was based on the criterion of keeping overall balances unchanged, i.e. of not significantly altering past history. Although compliance with BPM6 standards has not always been strictly possible, the possibility of having longer time series nonetheless widens the scope for the long-term analysis of real and financial phenomena concerning Italy’s external economic relations.

Suggested Citation

  • Enrico Tosti, 2020. "The reconstruction of back data for Italy’s balance of payments and international investment position (1970-1999)," Questioni di Economia e Finanza (Occasional Papers) 581, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_581_20
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    More about this item

    Keywords

    balance of payments; international investment position; time series reconstruction;
    All these keywords.

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • F00 - International Economics - - General - - - General
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • Y1 - Miscellaneous Categories - - Data: Tables and Charts

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