Nowcasting the growth rate of the ICT sector:
This paper details the methodology used to nowcast the growth rate of the information and communication technology (ICT) sector in the "The growth outlook of the ICT sector" chapter of the OECD Digital Economy Outlook 2024, Volume 1. In an era of rapid digital transformation, innovative da...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Paris
OECD Publishing
2024
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Schriftenreihe: | OECD Digital Economy Papers
no.362 |
Schlagworte: | |
Online-Zugang: | DE-863 |
Zusammenfassung: | This paper details the methodology used to nowcast the growth rate of the information and communication technology (ICT) sector in the "The growth outlook of the ICT sector" chapter of the OECD Digital Economy Outlook 2024, Volume 1. In an era of rapid digital transformation, innovative data sources for economic measurement are crucial. Internet search data have gained prominence for tracking real-time economic activity. This paper details a nowcasting model that leverages Google Trends data to provide policymakers with timely, up-to-date and comparable data on the economic growth of the ICT sector. Having timely data on ICT sector performance is essential to evaluating the effectiveness of sector-related policies. By addressing data challenges and employing a data-driven approach, this paper advances economic measurement of the digitalisation of the economy and provides insights into ICT sector growth dynamics. |
Beschreibung: | 1 Online-Ressource (32 Seiten) 21 x 28cm. |
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spelling | Umana Dajud, Camilo VerfasserIn aut Nowcasting the growth rate of the ICT sector Camilo, Umana Dajud Paris OECD Publishing 2024 1 Online-Ressource (32 Seiten) 21 x 28cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Digital Economy Papers no.362 This paper details the methodology used to nowcast the growth rate of the information and communication technology (ICT) sector in the "The growth outlook of the ICT sector" chapter of the OECD Digital Economy Outlook 2024, Volume 1. In an era of rapid digital transformation, innovative data sources for economic measurement are crucial. Internet search data have gained prominence for tracking real-time economic activity. This paper details a nowcasting model that leverages Google Trends data to provide policymakers with timely, up-to-date and comparable data on the economic growth of the ICT sector. Having timely data on ICT sector performance is essential to evaluating the effectiveness of sector-related policies. By addressing data challenges and employing a data-driven approach, this paper advances economic measurement of the digitalisation of the economy and provides insights into ICT sector growth dynamics. Science and Technology |
spellingShingle | Umana Dajud, Camilo Nowcasting the growth rate of the ICT sector Science and Technology |
title | Nowcasting the growth rate of the ICT sector |
title_auth | Nowcasting the growth rate of the ICT sector |
title_exact_search | Nowcasting the growth rate of the ICT sector |
title_full | Nowcasting the growth rate of the ICT sector Camilo, Umana Dajud |
title_fullStr | Nowcasting the growth rate of the ICT sector Camilo, Umana Dajud |
title_full_unstemmed | Nowcasting the growth rate of the ICT sector Camilo, Umana Dajud |
title_short | Nowcasting the growth rate of the ICT sector |
title_sort | nowcasting the growth rate of the ict sector |
topic | Science and Technology |
topic_facet | Science and Technology |
work_keys_str_mv | AT umanadajudcamilo nowcastingthegrowthrateoftheictsector |