A review of leading composite indicators: making a case for their use in Caribbean economies
AbstractIn this article, three issues relating to leading composite indicators (LCI) are discussed: their importance, methods of estimation and uses by institutions worldwide. This discussion is utilised to provide lessons that could be learnt for the application of these indicators to the countries of the Caribbean. The principal message of this material is that in this geographical area, LCI would be important tools for economic decision makers to employ to forecast the future state of the economy. This option should be pursued vigorously by putting the necessary resources into developing the high frequency real sector data that is required for a successful application of the LCI methodology.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 33390.
Date of creation: 2009
Date of revision: 2009
Publication status: Published in Journal of Applied Econometrics and International Development 2.9(2009): pp. 145-161
Business cycles; Leading indicators;
Find related papers by JEL classification:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
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