In the event of a trade shock, how can data requirements for taking rapid decisions be met using real time indicators (RTIs) and non-traditional sources of data? How can data science evaluate and improve the quality and reliability of RTIs?

Background

COVID-19 has posed a major economic shock, disrupting trade flows, stretching supply chains, and challenging international organisations that uphold systems of global governance as well as broader perceptions of international openness. Beyond immediate policy responses, evidence should support long-term recovery and economic security within the global rules-based system.

Next steps

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Source

This question was published as part of the set of ARIs in this document:

DIT Areas of research interest 2020 to 2021 GOVUK

Related UKRI funded projects


  • MultiLateral Thinking - Coriolis Technologies

    **Vision** - COVID-19 will change the nature of trade and impact the UK's economic performance, trade strategy/policy and global position. WTO forecasts global trade will fall 30% due to COVID-19\. COVID-19 places unique...

    Funded by: Innovate UK

    Lead research organisation: CORIOLIS TECHNOLOGIES LIMITED

    Why might this be relevant?

    The project combines real-time data and analytics to provide accurate and timely evidence-based decision-making for policymakers.

  • Data and Analytics for Real-time Trade modelling (DART)

    "**Need** - UK government wishes to support SMEs to increase trade. To assess trade and supply chain impacts of policy changes and political/economic events like Brexit, politicians, trade negotiators and businesses...

    Funded by: Innovate UK

    Lead research organisation: CORIOLIS TECHNOLOGIES LIMITED

    Why might this be relevant?

    The project aims to provide accurate, near real-time, granular trade data for goods/services, which can support policymakers in assessing trade impacts.

  • Machine Learning in International Trade Research - Evaluating the Impact of Trade Agreements

    International trade is of vital importance for modern economies, and governments around the world try to shape their countries' exports and imports through numerous interventions. Given the problems facing trade negotiat...

    Funded by: ESRC

    Lead research organisation: University of Surrey

    Why might this be relevant?

    The project proposes to use machine learning to evaluate the effects of preferential trade agreements (PTAs) on trade flows, which partially addresses the question of evaluating and improving the quality and reliability of real-time indicators (RTIs).

  • Aggregation in Gravity-Based Estimation: Theory, Evidence and Policy Implications

    International trade forms a vital part of modern economies. Likewise, many aspects of government policy are directed towards influencing international trade. For instance, governments may join trade agreements, enter cur...

    Funded by: ESRC

    Lead research organisation: University of Warwick

  • The Economic Impacts of Post-Brexit Trade Options

    The UK's exit from the European Union presents policymakers with an unprecedented set of challenges, risks and opportunities. Perhaps nowhere are these more significant than in the decisions that the UK will have to make...

    Funded by: ESRC

    Lead research organisation: Institute for Fiscal Studies

  • Going Global? Firms, Trade and Productivity After Brexit

    Brexit is the biggest change to the UK's external relations for at least a generation. Leaving the EU will lead to the introduction of new barriers to trade between the UK and the EU, while also creating opportunities fo...

    Funded by: ESRC

    Lead research organisation: London School of Economics and Political Science

  • UK in a Changing Europe Fellowship

    What types of trade agreements should the UK join post-Brexit? The world trading system, comprised of multilateral, mega-regional, and bilateral trade agreements offers multiple paths forward for the future of UK trade. ...

    Funded by: ESRC

    Lead research organisation: University of Cambridge

    Why might this be relevant?

    The project specifically addresses the use of real-time indicators and non-traditional data sources to meet data requirements for rapid decision-making in the event of a trade shock, as well as how data science can evaluate and improve the quality and reliability of RTIs.

Similar ARIs from other organisations