Changing Horizon of Economic Analysis: A Path for Knowledge Economy

On 19 February 2024, BIDS organized a seminar titled Changing Horizon of Economic Analysis: A Path for Knowledge Economy. Dr Radha Binod Barman, Former Chairman, National Statistical Commission (ex officio Minister of State, Government of India); Former Executive Director (Dy Governor Status), Reserve Bank of India; Former Vice Chairman, Irving Fisher Committee on Central Bank Statistics, Bank for International Settlements, Basel, Switzerland presented an hour-long speech on the topic at BIDS. The seminar started at 2:30 pm (Bangladesh Standard Time) and ended at 5 pm (BST). 

Dr Radha Binod Barman underscored managing the data lifecycle and its relationship with insights through spatial big data in a cloud environment in the paper. He mentioned that this comprehensive approach requires careful planning and could take years to establish fully. He added that the technology can enrich and stimulate econometric analysis based on cause-and-effect relationships. 

Dr Binayak Sen, director general of BIDS, chaired the event. He added in response to Dr. Barman’s presentation that Bangladesh needs decentralized governance to utilize big data and data warehouses effectively. He also said that intersectoral coordination can strengthen and expedite the use of big data in addressing economic issues. 

The seminar was held in a limited hybrid mood, allowing only selected participants to join online. Representatives from the Bangladesh Bank and World Bank joined online. Md. Rafiqul Islam, Director of the National Accounting Wing Bangladesh Bureau of Statistics (BBS), attended the seminar in person.