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

Enrico Tosti

No 581, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

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.

Keywords: balance of payments; international investment position; time series reconstruction (search for similar items in EconPapers)
JEL-codes: C82 F00 N14 Y1 (search for similar items in EconPapers)
Date: 2020-11
New Economics Papers: this item is included in nep-acc, nep-his and nep-ore
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.bancaditalia.it/pubblicazioni/qef/2020-0581/QEF_581_20.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_581_20

Access Statistics for this paper

More papers in Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area Contact information at EDIRC.
Bibliographic data for series maintained by ().