Evaluating the economic disparities in the world: Sentiment Analysis on Central Bank Speeches from Third World and First World Countries

This paper provides an evaluation of the financial and simple sentiment of central bank speeches from 2004- 2019. The speeches are categorized into two different sub-groups with three different countries for each one, respectively: Zambia, Barbados, and Sri Lanka for the third world [developing] group and France, Canada, and Japan for the first world [developed] group. This paper attempts to answer the following questions: (i) What do the sentiments of each country or sub-group tell us about their economic condition? (ii) How does the sentiment relate to the countries' contextual economic growth or decline? (iii) How do the central or federal banks of the country portray the economy? Using natural-language processing, more specifically BERT transformer models and modern NLP methods, a synthesized evaluation is created of what economic linguistics from central banks can reveal about the world's economy.