Big Data on Vessel Traffic: Nowcasting Trade Flows in Real Time

Big Data on Vessel Traffic: Nowcasting Trade Flows in Real Time
Author: Mr.Serkan Arslanalp
Publisher: International Monetary Fund
Total Pages: 34
Release: 2019-12-13
Genre: Business & Economics
ISBN: 1513523228

Vessel traffic data based on the Automatic Identification System (AIS) is a big data source for nowcasting trade activity in real time. Using Malta as a benchmark, we develop indicators of trade and maritime activity based on AIS-based port calls. We test the quality of these indicators by comparing them with official statistics on trade and maritime statistics. If the challenges associated with port call data are overcome through appropriate filtering techniques, we show that these emerging “big data” on vessel traffic could allow statistical agencies to complement existing data sources on trade and introduce new statistics that are more timely (real time), offering an innovative way to measure trade activity. That, in turn, could facilitate faster detection of turning points in economic activity. The approach could be extended to create a real-time worldwide indicator of global trade activity.

Big Data on Vessel Traffic: Nowcasting Trade Flows in Real Time

Big Data on Vessel Traffic: Nowcasting Trade Flows in Real Time
Author: Mr.Serkan Arslanalp
Publisher: International Monetary Fund
Total Pages: 34
Release: 2019-12-13
Genre: Business & Economics
ISBN: 1513521128

Vessel traffic data based on the Automatic Identification System (AIS) is a big data source for nowcasting trade activity in real time. Using Malta as a benchmark, we develop indicators of trade and maritime activity based on AIS-based port calls. We test the quality of these indicators by comparing them with official statistics on trade and maritime statistics. If the challenges associated with port call data are overcome through appropriate filtering techniques, we show that these emerging “big data” on vessel traffic could allow statistical agencies to complement existing data sources on trade and introduce new statistics that are more timely (real time), offering an innovative way to measure trade activity. That, in turn, could facilitate faster detection of turning points in economic activity. The approach could be extended to create a real-time worldwide indicator of global trade activity.

Tuvalu

Tuvalu
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
Total Pages: 81
Release: 2023-07-21
Genre: Business & Economics
ISBN:

The 2023 Article IV Consultation discusses that a successful vaccination strategy allowed Tuvalu to lift coronavirus disease (COVID) containment measures at the end of 2022, but the economic cost of the pandemic has been significant. Real gross domestic product growth was -4.3 percent in 2020, with at-the-border containment measures leading to delays in much-needed infrastructure projects. Growth is expected to accelerate as the lifting of COVID restrictions leads to the resumption of construction activity, shipping bottlenecks ease and the trade and hospitality sectors recover. Tuvalu is among the countries most vulnerable to the effects of climate change; its remote economy is dominated by the public sector; and its revenue base is narrow, with reliance on donor commitments further complicating fiscal planning. The economic setback due to the pandemic makes addressing these significant structural challenges more difficult. The report recommends promoting fiscal sustainability and building buffers by mobilizing revenues and rationalizing current expenditures.

Data Science for Economics and Finance

Data Science for Economics and Finance
Author: Sergio Consoli
Publisher: Springer Nature
Total Pages: 357
Release: 2021
Genre: Application software
ISBN: 3030668916

This open access book covers the use of data science, including advanced machine learning, big data analytics, Semantic Web technologies, natural language processing, social media analysis, time series analysis, among others, for applications in economics and finance. In addition, it shows some successful applications of advanced data science solutions used to extract new knowledge from data in order to improve economic forecasting models. The book starts with an introduction on the use of data science technologies in economics and finance and is followed by thirteen chapters showing success stories of the application of specific data science methodologies, touching on particular topics related to novel big data sources and technologies for economic analysis (e.g. social media and news); big data models leveraging on supervised/unsupervised (deep) machine learning; natural language processing to build economic and financial indicators; and forecasting and nowcasting of economic variables through time series analysis. This book is relevant to all stakeholders involved in digital and data-intensive research in economics and finance, helping them to understand the main opportunities and challenges, become familiar with the latest methodological findings, and learn how to use and evaluate the performances of novel tools and frameworks. It primarily targets data scientists and business analysts exploiting data science technologies, and it will also be a useful resource to research students in disciplines and courses related to these topics. Overall, readers will learn modern and effective data science solutions to create tangible innovations for economic and financial applications.

World Economic Outlook, October 2023

World Economic Outlook, October 2023
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
Total Pages: 182
Release: 2023-10-10
Genre: Business & Economics
ISBN:

The latest World Economic Outlook reports signs that policy tightening is starting to cool activity despite core inflation proving persistent. Risks are more balanced as banking sector stress has receded, but they remain tilted to the downside. Monetary policy should stay the course to bring inflation to target, while fiscal consolidation is needed to tackle soaring debts. Structural reforms are crucial to revive medium-term growth prospects amid constrained policy space.

Building Statistical Capacity in Fragile and Conflict-Affected States

Building Statistical Capacity in Fragile and Conflict-Affected States
Author: Ms. Stephanie C Medina Cas
Publisher: International Monetary Fund
Total Pages: 53
Release: 2022-02-25
Genre: Business & Economics
ISBN:

Based on internal data, this paper finds that the capacity development program of the IMF’s Statistics Department has prioritized technical assistance and training to fragile and conflict-affected states. These interventions have yielded only slightly weaker results in fragile states than in other states. However, capacity development is constantly needed to make up for the dissipation of progress resulting from insufficient resources that fragile and conflict-affected states allocate to the statistical function, inadequate inter-agency coordination, and the pervasive impact of shocks exogenous to the statistical system. Greater coordination with other capacity development providers and within the IMF can help partially overcome low absorptive capacity in fragile states. Statistical capacity development is more effective when it is tailored to countries’ level of fragility.

2024 Staff Guidance Note On The IMF’s Engagement With Small Developing States

2024 Staff Guidance Note On The IMF’s Engagement With Small Developing States
Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
Total Pages: 68
Release: 2024-07-25
Genre:
ISBN:

This guidance note provides operational guidance on the Fund’s engagement with small developing states (SDS). It highlights the unique economic characteristics and constraints facing SDS, notably in a more shock-prone world. Building on advice that applies to the full membership, the note explains how the characteristics of SDS shape Fund surveillance, financial support and program design, capacity development (CD), and collaboration with other institutions and donors. The note updates the previous version that was published in December 2017.

Current Topics in Finance

Current Topics in Finance
Author: Aslı TOGAN EĞRİCAN
Publisher: Scala Yayıncılık
Total Pages: 355
Release: 2024-10-15
Genre: Business & Economics
ISBN: 6258177891

This book intends to provide a compilation of recent empirical trends in finance using data from different economies. By focusing on a wide range of financial topics from market microstructure, linkages of macroeconomic effects and corporate finance, capital structure choices of firms, banking, supply chain disruptions, environmental, social and governance (ESG) effects, as well as econometric methods used in financial studies, the book intends to provide the reader answers to a vast array of novel financial questions.

World Seaborne Trade in Real Time: A Proof of Concept for Building AIS-based Nowcasts from Scratch

World Seaborne Trade in Real Time: A Proof of Concept for Building AIS-based Nowcasts from Scratch
Author: Mr. Diego A. Cerdeiro
Publisher: International Monetary Fund
Total Pages: 44
Release: 2020-05-14
Genre: Business & Economics
ISBN: 1513544101

Maritime data from the Automatic Identification System (AIS) have emerged as a potential source for real time information on trade activity. However, no globally applicable end-to-end solution has been published to transform raw AIS messages into economically meaningful, policy-relevant indicators of international trade. Our paper proposes and tests a set of algorithms to fill this gap. We build indicators of world seaborne trade using raw data from the radio signals that the global vessel fleet emits for navigational safety purposes. We leverage different machine-learning techniques to identify port boundaries, construct port-to-port voyages, and estimate trade volumes at the world, bilateral and within-country levels. Our methodology achieves a good fit with official trade statistics for many countries and for the world in aggregate. We also show the usefulness of our approach for sectoral analyses of crude oil trade, and for event studies such as Hurricane Maria and the effect of measures taken to contain the spread of the novel coronavirus. Going forward, ongoing refinements of our algorithms, additional data on vessel characteristics, and country-specific knowledge should help improve the performance of our general approach for several country cases.

Review of Maritime Transport 2020

Review of Maritime Transport 2020
Author: United Nations
Publisher: UN
Total Pages: 0
Release: 2021-01-06
Genre: Business & Economics
ISBN: 9789211129939

This series contains the decisions of the Court in both the English and French texts.