Product and asset prices, interest rates,  BIS Review 56/1999  2  debt by maturity, and detailed accounts of central banks and private enterprises are among the signals so essential to the effective functioning of a global economy.
I find it difficult to believe, for example, that the crises that arose in Thailand and Korea would have been nearly so virulent had their central banks published data prior to the crises on net reserves instead of the not very informative gross reserve positions only.