Front Matter Page
© 2001 International Monetary Fund
October 2001
IMF Country Report No. 01/194
Republic of Estonia: Report on Observance of Standards and Codes—Data Module; Response by the Authorities; and Detailed Assessments Using the Data Quality Assessment Framework
This Report on the Observance of Standards and Codes on Data Module for Estonia was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on October 19, 2001. The views expressed in this document are those of the staff team and do not necessary reflect the views of the government of Estonia or the Executive Board of the IMF.
The Response by the Authorities on this report, and the Detailed Assessments Using the Data Quality Assessment Framework (DQAF) are also included.
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Front Matter Page
INTERNATIONAL MONETARY FUND
REPUBLIC OF ESTONIA
Report on the Observance of Standards and Codes (ROSC)—Data Module
Prepared by the Statistics Department
Approved by Carol S. Carson and John Odling-Smee
October 19, 2001
Contents
Acronyms
Executive Summary
I. Introduction
II. Data Dissemination Practices and the SDDS
A. Overview of the SDDS
B. Current Dissemination Practices
Data Dimension: Coverage, Periodicity, and Timeliness
Access Dimension
Integrity Dimension
Quality Dimension
Monitoring of Data and Access Dimensions
III. Summary Assessment of Data Quality
A. The Framework for Assessing Data Quality
B. Summary Findings
Prerequisites of Quality
Integrity
Methodological Soundness
Accuracy and Reliability
Serviceability
Accessibility
IV. Users’ Views
V. Fund Staff Proposals
National Accounts
Consumer Price Index
Balance of Payments Statistics
Government Finance Statistics
Monetary Statistics
Box
1. Dimensions and Elements of the Special Data Dissemination Standard (SDDS)
Text Tables
Table 1. Overview of Current Practices Regarding Coverage, Periodicity, and Timeliness of Data Compared to the SDDS
Table 2.1. National Accounts
Table 2.2. Consumer Price Index
Table 2.3. Balance of Payments Statistics
Table 2.4. Government Finance Statistics
Table 2.5. Monetary Statistics
Acronyms
1993 SNA |
1993 System of National Accounts |
1995 ESA |
1995 European System of Accounts |
BOE |
Bank of Estonia |
BOP |
Balance of Payments |
BPM5 |
Balance of Payments Manual |
CBR |
Central Business Register |
CBS |
Central bank survey |
CDS |
Central Depository of Securities |
CGD |
Central Government Debt |
CGO |
Central Government Operations |
COFOG |
Classifications of the Functions of Government |
COICOP |
Classification of Individual Consumption by Purpose |
CPI |
Consumer Price Index |
DCS |
Depository corporations survey |
DQAF |
Data Quality Assessment Framework |
DSBB |
Dissemination Standards Bulletin Board |
ECB |
European Central Bank |
EMTAK |
Classification of Activities of the Estonian National Economy |
ENTB |
Estonia National Tax Board |
EU |
European Union |
FDI |
Foreign Direct Investment |
GDP |
Gross Domestic Product |
GFS |
Government Finance Statistics |
GFSM |
Government Finance Statistics Manual |
GO |
General government operations |
HBS |
Household Budget Survey |
IIP |
International Investment Position |
ITRS |
International Transactions Reporting System |
MFSM |
Monetary and Financial Statistics Manual |
MOF |
Ministry of Finance |
NPEs |
Nonfinancial Public Enterprises |
NPI |
Nonprofit Institution |
NSDP |
National Summary Data Page |
ODCs |
Other Depository Corporations |
OFC |
Other Financial Corporations |
OSA |
Official Statistics Act |
PPI |
Producer Price Index |
ROSCs |
Reports on the Observance of Standards and Codes |
SDDS |
Special Data Dissemination Standard |
SOE |
Statistics Office of Estonia |
Executive Summary
This report is a summary assessment of Estonia’s data practices against the IMF’s Special Data Dissemination Standard (SDDS), complemented by an in-depth assessment of the dimensions of data quality that underlie the national accounts, consumer prices, government finance, monetary, and balance of payments statistics. This assessment was carried out by a mission that visited Tallinn during May 10-18, 20011.
The quality of Estonia’s data is generally good. The authorities follow an open dissemination policy, and make freely available a wide variety of data and metadata through official publications, press releases, and on the Internet. The authorities are working hard to meet the statistical requirements of European Union (EU) membership, and are making good progress. The mission noted that the authorities plan to address most of the issues noted in the ROSC in the context of their multi-year program to meet the requirements of EU membership. It is expected that a number of these issues will be addressed in 2002.
The general conclusions of the mission were:
Estonia meets all the elements of the SDDS that are used by the IMF in designating observance—coverage, periodicity, and timeliness and the provision of advance release calendars.
The legal and institutional framework generally supports the production and dissemination of high quality statistics. Some interagency coordination issues need to be addressed. Quality awareness is high. Resources are generally adequate, but are constrained in some areas, particularly for fiscal data.
All agencies evidence professionalism, are transparent in their practices and policies, and provide ethical guidelines to their staffs.
International standards and guidelines are generally followed. However, the quality of fiscal and monetary data is constrained by incomplete coverage. In view of Estonia’s preparations for EU accession, an important and urgent requirement is to develop a definition of general government that is consistent with the European System of Accounts, 1995.
Accuracy and reliability are generally good, but could be improved in a few areas of national accounts and in general government data by strengthening source data and improving statistical techniques.
The datasets assessed generally meet users’ needs. However, there are some areas where consistency with other datasets needs attention, particularly for fiscal data.
Accessibility of data, metadata, and assistance to data users is high.
Front Matter Page
INTERNATIONAL MONETARY FUND
REPUBLIC OF ESTONIA
Report on the Observance of Standards and Codes (ROSC)—Data Module: Response by the Authorities
October 19, 2001
Contents
I. General Remarks
II. Action Plan from the Estonian Authorities on Fund Staff Proposals
A. National Accounts (Annual and Quarterly)
B. Consumer Price Statistics
C. Balance of Payments Statistics
D. Government Finance Statistics
E. Monetary Statistics
Front Matter Page
INTERNATIONAL MONETARY FUND
REPUBLIC OF ESTONIA
Report on the Observance of Standards and Codes (ROSC)—Data Module Detailed Assessments Using the Data Quality Assessment Framework
Prepared by the Statistics Department
Approved by Carol S. Carson and John Odling-Smee
October 19, 2001
This document contains a detailed assessment by dataset of the elements and indicators that underlie the data quality dimensions discussed in the data module, including the generic framework used for the assessment of the quality of Estonia’s data (Appendix I).
Contents
I. National Accounts (Annual and Quarterly)
II. Consumer Price Index
III. Balance of Payments Statistics
IV. Government Finance Statistics
V. Monetary Statistics
Appendix
I. Data Quality Assessment Framework—Generic Framework (March 2001)