Measuring Quarterly Economic Growth from Outer Space

Measuring Quarterly Economic Growth from Outer Space

This paper presents a novel framework to estimate the elasticity between nighttime lights and quarterly economic activity. The relationship is identified by accounting for varying degrees of measurement errors in nighttime light data across countri...

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Main Authors: Beyer, Robert C.M., Hu, Yingyao, Yao, Jiaxiong
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2022
Subjects:
ECONOMIC GROWTH
NIGHTTIME LIGHT INTENSITY
ECONOMIC MEASUREMENT
NATIONAL ACCOUNTS
CORONAVIRUS
COVID-19
PANDEMIC IMPACT
VISIBLE INFRARED IMAGING RADIOMETER SUITE
Online Access:http://documents.worldbank.org/curated/undefined/692011641480491613/Measuring-Quarterly-Economic-Growth-from-Outer-Space
http://hdl.handle.net/10986/36814
id okr-10986-36814
recordtype oai_dc
spelling okr-10986-368142022-01-14T05:10:33Z Measuring Quarterly Economic Growth from Outer Space Beyer, Robert C.M. Hu, Yingyao Yao, Jiaxiong ECONOMIC GROWTH NIGHTTIME LIGHT INTENSITY ECONOMIC MEASUREMENT NATIONAL ACCOUNTS CORONAVIRUS COVID-19 PANDEMIC IMPACT VISIBLE INFRARED IMAGING RADIOMETER SUITE This paper presents a novel framework to estimate the elasticity between nighttime lights and quarterly economic activity. The relationship is identified by accounting for varying degrees of measurement errors in nighttime light data across countries. The elasticity is 1.55 for emerging markets and developing economies, with only small deviations across country groups and different model specifications. The paper uses a light-adjusted measure of quarterly economic activity to show that higher levels of development, statistical capacity, and voice and accountability are associated with more precise national accounts data. The elasticity allows quantification of subnational economic impacts. During the COVID-19 pandemic, regions with higher levels of development and population density experienced larger declines in economic activity. 2022-01-13T14:29:29Z 2022-01-13T14:29:29Z 2022-01 Working Paper http://documents.worldbank.org/curated/undefined/692011641480491613/Measuring-Quarterly-Economic-Growth-from-Outer-Space http://hdl.handle.net/10986/36814 English Policy Research Working Paper;No. 9893 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic ECONOMIC GROWTH
NIGHTTIME LIGHT INTENSITY
ECONOMIC MEASUREMENT
NATIONAL ACCOUNTS
CORONAVIRUS
COVID-19
PANDEMIC IMPACT
VISIBLE INFRARED IMAGING RADIOMETER SUITE
spellingShingle ECONOMIC GROWTH
NIGHTTIME LIGHT INTENSITY
ECONOMIC MEASUREMENT
NATIONAL ACCOUNTS
CORONAVIRUS
COVID-19
PANDEMIC IMPACT
VISIBLE INFRARED IMAGING RADIOMETER SUITE
Beyer, Robert C.M.
Hu, Yingyao
Yao, Jiaxiong
Measuring Quarterly Economic Growth from Outer Space
relation Policy Research Working Paper;No. 9893
description This paper presents a novel framework to estimate the elasticity between nighttime lights and quarterly economic activity. The relationship is identified by accounting for varying degrees of measurement errors in nighttime light data across countries. The elasticity is 1.55 for emerging markets and developing economies, with only small deviations across country groups and different model specifications. The paper uses a light-adjusted measure of quarterly economic activity to show that higher levels of development, statistical capacity, and voice and accountability are associated with more precise national accounts data. The elasticity allows quantification of subnational economic impacts. During the COVID-19 pandemic, regions with higher levels of development and population density experienced larger declines in economic activity.
format Working Paper
author Beyer, Robert C.M.
Hu, Yingyao
Yao, Jiaxiong
author_facet Beyer, Robert C.M.
Hu, Yingyao
Yao, Jiaxiong
author_sort Beyer, Robert C.M.
title Measuring Quarterly Economic Growth from Outer Space
title_short Measuring Quarterly Economic Growth from Outer Space
title_full Measuring Quarterly Economic Growth from Outer Space
title_fullStr Measuring Quarterly Economic Growth from Outer Space
title_full_unstemmed Measuring Quarterly Economic Growth from Outer Space
title_sort measuring quarterly economic growth from outer space
publisher World Bank, Washington, DC
publishDate 2022
url http://documents.worldbank.org/curated/undefined/692011641480491613/Measuring-Quarterly-Economic-Growth-from-Outer-Space
http://hdl.handle.net/10986/36814
_version_ 1764485949007331328

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