pwt8.0 {pwt8}

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")

Format

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

country

factor with country name.

isocode

factor with ISO 3166-1 alpha-3 country code.

year

year.

currency

factor with national currency unit.

rgdpe

Expenditure-side real GDP at chained PPPs (in million 2005 USD).

rgdpo

Output-side real GDP at chained PPPs (in million 2005 USD).

pop

Population (in millions).

emp

Number of persons engaged (in millions).

avh

Average annual hours worked by persons engaged.

hc

Index of human capital per person, based on years of schooling (Barro and Lee 2013) and returns to education (Psacharopoulos 1994).

cgdpe

Expenditure-side real GDP at current PPPs (in million 2005 USD).

cgdpo

Output-side GDP at current PPPs (in million 2005 USD).

ck

Capital stock at current PPPs (in million 2005 USD).

ctfp

TFP level at current PPPs (USA = 1).

rgdpna

Real GDP at constant 2005 national prices (in million 2005 USD).

rkna

Capital stock at constant 2005 national prices (in million 2005 USD).

rtfpna

TFP at constant national prices (2005 = 1).

labsh

Share of labour compensation in GDP at current national prices.

xr

Exchange rate, national currency/USD (market and estimated).

pl_gdpe

Price level of CGDPe (PPP/XR, price level of USA GDPo in 2005 = 1).

pl_gdpo

Price level of CGDPo (PPP/XR, price level of USA GDPo in 2005 = 1).

i_cig

Factor indicating whether relative price data for consumption, investment, and government is extrapolated, benchmark, or interpolated.

i_xm

Factor indicating whether relative price data for exports and imports is extrapolated, benchmark, or interpolated.

i_xr

Factor indicating whether the exchange rate is market-based or estimated.

i_outlier

Factor indicating whether the observation on pl_gdpe or pl_gdpo is an outlier or not.

cor_exp

Correlation between expenditure shares of the country and the US (benchmark observations only).

statcap

Statistical capacity indicator (source: World Bank, developing countries only).

csh_c

Share of household consumption at current PPPs.

csh_i

Share of gross capital formation at current PPPs.

csh_g

Share of government consumption at current PPPs.

csh_x

Share of merchandise exports at current PPPs.

csh_m

Share of merchandise imports at current PPPs.

csh_r

Share of residual trade and GDP statistical discrepancy at current PPPs.

pl_c

Price level of household consumption (price level of USA GDPo in 2005 = 1).

pl_i

Price level of capital formation (price level of USA GDPo in 2005 = 1).

pl_g

Price level of government consumption (price level of USA GDPo in 2005 = 1).

pl_x

Price level of exports (price level of USA GDPo in 2005 = 1.

pl_m

Price level of imports (price level of USA GDPo in 2005 = 1.

pl_k

Price level of the capital stock (price level of USA in 2005 = 1.

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)

Source

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

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.

See Also

pwt8.1