Also, some of the fastest growing economies, especially in Asia, pursued export-driven growth strategies, thereby accumulating large reserves of foreign-denominated assets. In addition, high prices of oil and other commodities in recent years shifted income from importing nations to exporters, and research suggests that the bulk of these “windfalls” has been saved rather than invested.
Doing this effectively and efficiently, while maintaining data confidentiality, is a priority for policymakers. It requires action from policy institutions and lawmakers. Putting in place the right architecture will permit a faster and more efficient response to requests across all our policy areas, greatly enhancing the usefulness of granular data. We have made some progress on the legal foundations for sharing granular data.