IDEAS home Printed from https://ideas.repec.org/p/bis/bisiwp/21.html

Big data in Asian central banks

Author

Listed:
  • Giulio Cornelli
  • Sebastian Doerr
  • Leonardo Gambacorta
  • Bruno Tissot

Abstract

This paper reviews the use of big data in Asian central banks, leveraging on a survey conducted among the members of the Irving Fisher Committee. The analysis reveals four main insights. First, Asian central banks define big data in a more encompassing way that includes unstructured non-traditional as well as structured data sets. Second, interest in big data appears higher in Asia, including at the senior policy level; the focus is in particular on projects developed to process natural language, conduct nowcasting/monitoring exercises, and develop applications to extract economy insights as well as suptech/regtech solutions. Third, Asian central banks report dealing with big data to support a wide range of tasks. Fourth, big data poses new challenges, with specific attention paid in the region to cyber security and data strategy. As a result, there is a growing need for international policy cooperation, especially among public authorities in Asia to facilitate the use of payments data and promote innovative technological solutions.

Suggested Citation

  • Giulio Cornelli & Sebastian Doerr & Leonardo Gambacorta & Bruno Tissot, 2022. "Big data in Asian central banks," IFC Working Papers 21, Bank for International Settlements.
    • Handle: RePEc:bis:bisiwp:21
    as

    Download full text from publisher

    File URL: https://www.bis.org/ifc/publ/ifcwork21.pdf
    File Function: Full PDF document
    Download Restriction: no
    File URL: https://www.bis.org/ifc/publ/ifcwork21.htm
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. is not listed on IDEAS
    2. Feng Zhu, 2022. "Comment on “Big Data in Asian Central Banks”," Asian Economic Policy Review, Japan Center for Economic Research, vol. 17(2), pages 272-273, July.
    3. Yiping Huang & Takatoshi Ito & Kazumasa Iwata & Colin McKenzie & Shujiro Urata, 2022. "Digital Finance in Asia: Editors' Overview," Asian Economic Policy Review, Japan Center for Economic Research, vol. 17(2), pages 163-182, July.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bis:bisiwp:21. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Martin Fessler (email available below). General contact details of provider: https://edirc.repec.org/data/bisssch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.