Stock and Watson’s Introduction to Econometrics, 3rd Updated Edition
Documentation for Growth Data
Growth contains data on average growth rates over 1960-1995 for 65 countries, along with variables that are potentially related to growth. These data were provided by Professor Ross Levine of Brown University and were used in his paper with, Thorsten Beck and Norman Loayza “Finance and the Sources of Growth” Journal of Financial Economics, 2000, Vol. 58, pp. 261-300.
Variable Definitions
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Variable
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Definition
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Country_name
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Name of country
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growth
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Average annual percentage growth of real Gross Domestic Product (GDP)* from
1960 to 1995.
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rgdp60
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The value of GDP* per capita in 1960, converted to 1960 US dollars
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tradehare
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The average share of trade in the economy from 1960 to 1995, measured as the
sum of exports plus imports, divided by GDP; that is, the average value of (X +
M)/GDP from 1960 to 1995, where X = exports and M = imports (both X and M are positive).
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yearsshcool
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Average number of years of schooling of adult residents in that country in 1960
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rev_coups
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Average annual number of revolutions, insurrections (successful or not) and coup d’etats in that country from 1960 to 1995
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assasinations
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Average annual number of political assassinations in that country from 1960 to 1995 (per million population)
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oil
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= 1 if oil accounted for at least half of exports in 1960 = 0 otherwise
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