pwt8.0: Penn World Table 8.0

Description

Relative levels of income, output, inputs, productivity for 167 countries between 1950 and 2011 (base year: 2005).

Usage

data("pwt8.0")

Arguments

Format

A data frame with 10,354 observations of 39 variables.

Source

Penn World Table 8.0, http://dx.doi.org/10.15141/S5159X.

Details

The Penn World Table (version 8.0) is a database with information on relative levels of income, output, inputs, productivity for 167 countries between 1950 and 2011. For more details see the official documentation provided at http://www.ggdc.net/pwt/.

Version 8.0 has been constructed by Feenstra, Inklaar, and Timmer (2013, 2015). Compared to earlier versions (see Heston et al. 2012, and also R package pwt), the construction of the data has changed somewhat and also some variables have been renamed, added, or dropped. The PWT 8.0 website provides many additional materials including documentation and scripts for constructing customized variables. The data set pwt8.0 provided here largely preserves the properties of the original data. All character or indicator variables are stored as factors, though. Also, the variables isocode (rather than countrycode) and currency (rather than currency_unit) are used as in package pwt. Following Feenstra et al., the ISO country code (isocode) now strictly follows ISO 3166-1 alpha-3, i.e., COD (rather than ZAR) is used for the Democratic Republic of Congo, DEU (rather than GER) for Germany and ROU (rather than ROM) for Romania.

Feenstra et al provide a detailed list of overlapping variables in version 7.1 and 8.0. Here, only the variable names are list:

Version 8.0

Version 7.1

cgdpe

tcgdp

xr

xrat

pl_gdpe

p

csh_c

cc

csh_i

ci

csh_g

cg

pl_c

pc

pl_i

pi

pl_g

pg

Similarly, the following variables from version 7.1 can be constructed (approximately) from 8.0 data:

Version 7.1

Link to Version 8.0?

ppp

Compute as pl_gdpe * xr

cgdp

Compute as cgdpe/pop

y

Divide cgdpe by pop and divide by USA values

rgdpch

Closest comparison: rgdpe/pop

rgdpwok

Closest comparison: rgdpe/emp

rgdpl2th

Closest comparison: rgdpe/(avh * emp)

References

Barro RJ, Lee JW (2013). A New Data Set of Educational Attainment in the World, 1950--2010. Journal of Development Economics, 104, 184--198. URL http://dx.doi.org/10.1016/j.jdeveco.2012.10.001

Feenstra RC, Inklaar R, Timmer MP (2013). PWT 8.0: A User's Guide. URL http://www.ggdc.net/pwt/.

Feenstra RC, Inklaar R, Timmer MP (2015). The Next Generation of the Penn World Table, American Economic Review, forthcoming. URL http://www.ggdc.net/pwt/.

Heston A, Summers R, Aten B (2012). Penn World Table Version 7.1, Center for International Comparisons of Production, Income and Prices at the University of Pennsylvania.

Psacharopoulous G (1994). Returns to Investment in Education: A Global Update. World Development, 22(9), 1325-1343.