The growing role of data in the digital economy is rapidly outpacing existing regulations, making it difficult for states to implement and evaluate their own policies. To help overcome these challenges, this working paper recommends developing an international data measurement scheme that would categorize the trade of data into industries and applications, measure both the quantity and value of data, and require reporting of cross-border transactions. Other recommendations include gradually building governance systems that regulate the exchange of data and developing reporting standards that disclose the scale of exchanges and source of data.
