A Call for Enterprise in Economic Data Generation and Information Analytics

Economic data generation and analytics can disentangle bank lending versus corporate demand channels to better inform policy. The document urges building an ecosystem for economic data generation and information analytics to produce high frequency, granular indicators (prices, consumption, employment, rural activity, hot money flows) and analytic products. It recommends integrating firm, bank and state finance data to compute implied credit risk and detect governance anomalies. An empirical agenda employs a difference in differences design comparing weak and strong firms and their bank links across the cycle turn to disentangle bank lending (supply) from corporate demand channels and inform whether policy should target bank stress, corporate stress, or both.