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Panel Nowcasting for Countries Whose Quarterly GDPs are Unavailable

Author

Listed:
  • Omer Faruk Akbal
  • Mr. Seung M Choi
  • Mr. Futoshi Narita
  • Jiaxiong Yao

Abstract

Quarterly GDP statistics facilitate timely economic assessment, but the availability of such data are limited for more than 60 developing economies, including about 20 countries in sub-Saharan Africa as well as more than two-thirds of fragile and conflict-affected states. To address this limited data availablity, this paper proposes a panel approach that utilizes a statistical relationship estimated from countries where data are available, to estimate quarterly GDP statistics for countries that do not publish such statistics by leveraging the indicators readily available for many countries. This framework demonstrates potential, especially when applied for similar country groups, and could provide valuable real-time insights into economic conditions supported by empirical evidence.

Suggested Citation

  • Omer Faruk Akbal & Mr. Seung M Choi & Mr. Futoshi Narita & Jiaxiong Yao, 2023. "Panel Nowcasting for Countries Whose Quarterly GDPs are Unavailable," IMF Working Papers 2023/158, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2023/158
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