This dataset includes variables that the project has collected from other researchers and institutions. It includes multiple measures of income levels, and variables concerning national accounts, money and trade. Since different measures are used in different ways by researchers, the choice whether to include a variable in the economc.dta or politicl.dta was oftentimes quite subjective. We have chosen for example to treat inflation as an economic indicator rather than a policy variable and to treat government consumption as a policy variable. Other economic variables which contain information on policy such as tax rates, and government revenue and expenditure can be found in the political data set, politicl.dta. The variables from the two sets can easily be merged. We have provided brief descriptions of all variables, for more detailed descriptions please refer to the original sources (listed).




 

 

 

 

 

Code Book for Economc.dta

 

Overview | This dataset | General Notes | All Variables | Economic variables | Summary Statistics | References

 

 

 

 

 

Overview [top]

 

The dataset in this file is one of a collection of six datasets on African political economy released by The Africa Research Program at Harvard University. The program, led by Robert Bates, is run with the support of the Harvard Center for International Development and the Weatherhead Center for International Affairs at Harvard with the financial support of the World Bank and the National Science Foundation. The datasets contain variables for panel estimation for 46 sub-Saharan African countries for the years 1960-95 inclusive and are provided in ASCII and Stata format. Two of the datasets -instttns.dta and violnce2.dta- contain original political data on Africa and will not be made available until 2000. The other four datasets -politicl.dta, economc.dta, violnce1.dta and controls.dta- contain variables drawn from standard and published sources or variables which are manipulations of variables in the public domain; these four sets are available for immediate downloading. They are presented here in a format compatible with the new datasets on political institutions and violence to be released by the project. The data and this documentation is available on-line at http://www.gov.harvard.edu/research/rbates.

 

 

 

About this dataset: economc.dta [top]

 

This dataset includes variables that the project has collected from other researchers and institutions. It includes multiple measures of income levels, and variables concerning national accounts, money and trade. Since different measures are used in different ways by researchers, the choice whether to include a variable in the economc.dta or politicl.dta was oftentimes quite subjective. We have chosen for example to treat inflation as an economic indicator rather than a policy variable and to treat government consumption as a policy variable. Other economic variables which contain information on policy such as tax rates, and government revenue and expenditure can be found in the political data set, politicl.dta. The variables from the two sets can easily be merged. We have provided brief descriptions of all variables, for more detailed descriptions please refer to the original sources (listed).

 

 

 

 

 

General Notes [top]

 

ADI: World Bank, African Development Indocators

BL: Barro and Lee

BT: Bates manipulation from other variables

IFS: IMF International Financial Statistics

ND: Nehru & Dhareshwar

SH: Summers and Heston (Penn World Tables 5.6)

SV: Servan

SW: Sachs and Warner

WDI98: World Bank, World Development Indicators 1998

 

 

 

 

 

Variables [top]

 

 

1. Reference Variables

 

 

UNICODE: Assigns a single value to each country-year. Unicode takes the form BB0YY, where BB refers to the Bates country code (see next) and YY refers to the year. For example, UNICODE = 1060 refers to Angola in 1960 and UNICODE = 46095 refers to Zimbabwe in 1995. This is the variable that is typically used to merge the datasets in this collection.

BATES Assigns a single value to each country. Country list is below.

COUNTRY: Is a string variable giving the name of the country corresponding to the observation.

YEAR Two digit designation of the year, ranges from 60-95.

 

 

 

Correspondence between Bates and Country

 

Bates

Country

Bates

Country

Bates

Country

Bates

Country

1

Angola

13

Djibouti

25

Malawi

37

Sierra Leone

2

Benin

14

Equatorial Guinea

26

Mali

38

Somalia

3

Botswana

15

Ethiopia

27

Mauritania

39

Sudan

4

Burkina Faso

16

Gabon

28

Mauritius

40

Swaziland

5

Burundi

17

Gambia, The

29

Mozambique

41

Tanzania

6

Cameroon

18

Ghana

30

Namibia

42

Togo

7

Cape Verde

19

Guinea

31

Niger

43

Uganda

8

Central African Rep.

20

Guinea-Bissau

32

Nigeria

44

Zaire / DRC

9

Chad

21

Kenya

33

Rwanda

45

Zambia

10

Comoros

22

Lesotho

34

Sao Tome & Principe

46

Zimbabwe

11

Congo, Rep,

23

Liberia

35

Senegal

12

Cote d'Ivoire

24

Madagascar

36

Seychelles

 

 

Regional dummies and other coding systems are contained within the Controls.dta dataset.

 

 

 

 

 

 

2. Economic Variables [top]

 

Income | Other National Accounts | Money | Trade

 

Income Variables [all vars]

 

 

NAME

MEANING

NOTES

SOURCE

G.GDPCH

Growth

Growth of per capital GDP (log) (GDPCH)

BT

G.GDPMK

Series: GDP growth (annual %) (NY.GDP.MKTP.KN.87.ZG)

Annual percentage growth rate of GDPMK, GDP at market prices based on constant 1987 local currency [x(t)/x(t-1) – 1].

WDI98

G.GNPMK

GNP growth (annual %) (NY.GNP.MKTP.KN.87.ZG)

Annual growth rate of GNPMK, GNP at market prices, based on constant 1987 local currency.

WDI98

G.GNPPC

GNP per capita growth (annual %) (NY.GNP.PCAP.ZG)

Annual growth rate of GNPPC, GNP per capita, based on constant 1987 local currency.

WDI98

GDPCH

Real per capita PPP GDP chain index

Purchasing power parity gross domestic product calculated using chain international price index.

SH

GDPEA

Real per capita PPP GDP adjusted per equivalent adult

Purchasing power parity gross domestic product per "equivalent adult" calculating children (<15)=.5 adults.

SH

GDPFC

GDP at factor cost (constant 1987 US$) (NY.GDP.FCST.KD.87)

GDP at factor cost is derived as the sum of the value added in the agriculture, industry and services sectors. If the value added of these sectors is calculated at purchaser values (market prices), GDP at factor cost is derived by subtracting net indirect

WDI98

GDPI

GDP measure from the IMF IFS, line [XXX]99B…ZF

GDP measure from the IMF IFS, line [XXX]99B…ZF. Calculated in local current currency units (denomination varies by country).

IFS

GDPMK

GDP at market prices (constant 1987 US$) (NY.GDP.MKTP.KD.87)

GDP measures the total output of goods and services for final use occurring within the domestic territory of a given country, regardless of the allocation to domestic and foreign claims. Gross domestic product at purchaser values (market prices) is the su sum of gross value added by all resident and nonresident producers in the economy plus any taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 1987 U.S. dollars. Dollar figures for GDP are converted from domestic currencies using 1987 official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. For more information, see Tables: WDI 4.1 and 4.2.

 

WDI98

GDPPP

Series: GDP, PPP (constant 1987 international $) (NY.GDP.MKTP.PP.KD.87)

GDP PPP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar in the United States.

WDI98

GDPPPC

GDP per capita, PPP (constant 1987 international $) (NY.GDP.PCAP.PP.KD.87)

GDP per capita based on purchasing power parity (PPP). See GDPPP.

 

 

WDI98

GDPTT

Real per capita PPP GDP adjusted for changes in terms of trade

Purchasing power parity gross domestic product calculated PPP for domestic absorption, but current prices for imports and exports

SH

GDPW

Real per worker PPP GDP

Purchasing power parity gross domestic product per worker

SH

GNPMK

GNP at market prices (constant 1987 US$) (NY.GNP.MKTP.KD.87)

GNP is the sum of gross value added by all resident producers plus any taxes (less subsidies) that are not included in the valuation of output plus net receipts of primary income (employee compensation and property income) from nonresident sources. Data are in constant 1987 U.S. dollars.

WDI98

GNPPC

GNP per capita (constant 1987 US$) (NY.GNP.PCAP.KD.87)

GNP per capita is gross national product divided by midyear population.

WDI98

GNPPP

GNP, PPP (constant 1987 international $) (NY.GNP.MKTP.PP.KD.87)

GNP PPP is gross national product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GNP as the U.S. dollar in the United States.

WDI98

GNPPPC

GNP per capita, PPP (constant 1987 international $) (NY.GNP.PCAP.PP.KD.87)

GNPPPC is PPP GNP per capita, GNPPP divided by midyear population.

WDI98

 

 

 

 

Other National Accounts Variables

 

 

 

[all vars]

NAME

MEANING

NOTES

SOURCE
C Real consumption Consumption as a percentage of GDP; calculated from PPP GDP figures

SH

G

Real government consumption (current expenditure) as a percentage of GDP

Government consumption (current expenditure) calculated from PPP GDP figures

SH

I

Real investment as a percentage of GDP

Investment calculated from PPP GDP figures (includes public investment)

SH

IPB

Public investment as percentage of GDP

Public investment as percentage of gross domestic product

Servan

IPV

Private investment as percentage of GDP

Private investment as percentage of gross domestic product

SV

KGDP

Capital stock as percentage of GDP

Capital stock estimated in constant 1987 local prices (same for GDP)

ND

KI

Capital stock as percentage of Gross Domestic Fixed Investment

Capital stock estimated in constant 1987 local prices (same for gross domestic fixed investment)

ND

SRVGDP

Size of service sector Series: Services, etc., value added (% of GDP)

Services correspond to ISIC divisions 50-99 and they include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 2. For more information, see Tables: WDI 4.1 and 4.2.

 

WDI

(NV.SRV.TETC.ZS)

 

 

Money Variables [all vars]

 

 

 

NAME

MEANING

NOTES

SOURCE

M1

Money

M1

IFS

QM

Quasi Money

M2-M1

IFS

M2

Money + Quasi Money

M1 + QM

BT

M1GDP

Money as a percentage of GDPI

100*M1/GDPI

BT

FIN

Financial Depth

100*M2/GDPI

BT

CIM

Contract Intensive Money

QM as a % of GDPI (after Olson et al)

BT

INF

Inflation

Growth of consumer price index

IMF

IRPA

Passive private interest rate

Interest rate on private loans

IFS

IRPU

Public interest rates

Interest rates on government bonds

IFS

IRPV

Private active interest rate (deposits)

Interest rates on bank deposits

IFS

OXR

Official Exchange Rate

No of units of local currency per US$

WDI98

SHXR

Official Exchange Rate

No of units of local currency per US$

SH

PMXR

Parallel market Exchange Rate

Parallel mkt exchg rt (local curr/US$), per avg

This exchange rate is based on period

average (local currency per US dollar)

PA NUS FCRF PM

ADI

REERADI

 

Real Effective Exchange Rate

Real effective exchange rate index (IMF)

Real effective exchange rate is the

nominal effective exchange rate (a

measure of the value of a currency

against a weighted average of several

foreign currencies) divided by a price

deflator or index of costs. PX REC REER

ADI

BMPWB

Black Market Premium

100*(Black Market XR-Official XR)/OfficialXR

WB

BMPRB

Black Market Premium

= (PMXR-OXR)/OXR This version has more missing observations that BMPWB and contains some extreme values.for Uganda in the 1980s.

BT

BLK

Variant of Black Market Premium (WB)

=log(BMPWB/100+1); This variation on BMP is constructed using BMPWB measure.

BT

BLKRB

Variant of Black Market Premium (RB)

=log(PMXR/OXR)

BT

Trade Variables[all vars]

 

NAME

MEANING

NOTES

SOURCE

G.IPI

Growth of import price index

Log(IPI(t)) – log(IPI(t-1))

BT

G.TOTRB

Growth of terms of trade

% Change in TOT; may be used to capture TOT shock.

= G.XPI – G.IPI

BT

G.XPI

Growth of export price index

Log(XPI(t)) – log(XPI(t-1))

BT

ICRD

 

Imports of goods and services (current US$)

NE.IMP.GNFS.CD

WDI98

IK87D

 

Imports of goods and services (constant 1987 US$)

NE.IMP.GNFS.KD.87

WDI98

IPI

Import Price Index

= ICRD/IK87D

BT

OP

Trade [100*(Exports + Imports)]/GDP.

"Openness" is the sum of exports and imports of goods and services measured as a share of gross domestic product.

PWT

TOTRB

Terms of trade

=100*XPI/IPI

BT

TRDBTS

Income effect of terms of trade changes

 

= (X/GDP)*(%change in export price index) - (M/GDP)*(%change in import price index).

BT

TRDGDP

Series: Trade (% of GDP) (NE.TRD.GNFS.ZS)

World Bank version of OP. For more information, see Tables: WDI 4.8.

WDI98

TRDSHK

Absolute value of the (unexpected) income effect of terms of trade changes

= abs(TRDBTS)

BT

XCRD

Exports of goods and services (current US$)

NE.EXP.GNFS.CD

WDI98

XK87D

Exports of goods and services (constant 1987 US$)

NE.EXP.GNFS.KD.87

WDI98

XPI

Export Price Index

= XCRD/XK87D

BT

 

 

 

 

Summary Statistics [top]

 

Variable

Obs

Mean

Std.Dev.

Min

Max

 

 

 

 

 

 

unicode

1702

23578

13279.82

1060

46096

country

0

 

 

 

 

bates

1702

23.5

13.27982

1

46

year

1702

78

10.68022

60

96

 

GDP VARIABLES

 

 

 

 

 

G.gdpch

1339

.58134

7.93125

-64.2402

51.30703

G.gdpmk

1121

3.436557

7.044628

-49.07

37.96

G.gnpmk

1130

3.405142

8.293504

-49

95.59

G.gnppc

1122

.6983244

8.067806

-47.5

91.79

gdpch

1383

1093.534

884.2772

257

6965

gdpea

1324

1387.979

1069.07

331

8352

gdpfc

915

3.57e+09

4.93e+09

9.10e+07

3.48e+10

gdpi

1202

3.55e+11

9.95e+11

21.37

1.36e+13

gdpmk

1164

3.28e+09

4.74e+09

3.07e+07

3.54e+10

gdppp

637

8.96e+09

1.17e+10

2.01e+08

7.77e+10

gdpppc

637

1457.302

1333.269

220.96

7443.56

gdptt

1383

1079.929

854.9545

258

6341

gdpw

1324

2507.593

2068.083

538

14578

gnpmk

1173

3.05e+09

4.38e+09

3.03e+07

3.45e+10

gnppc

1159

651.6737

906.9724

77.64

9101.31

gnppp

638

8.49e+09

1.10e+10

2.01e+08

7.56e+10

gnpppc

638

1414.671

1267.732

220

6810

gdpl

1383

1093.436

882.7652

257

6969

 

OTHER NATL ACC.

 

 

 

 

 

c

1383

69.77361

12.61627

25.4

103.2

g

1383

22.60788

8.426743

2.8

57.9

i

1383

10.22205

7.864584

-.6

45.5

ipb

861

10.83789

8.108682

.400473

57.97203

ipv

860

9.908449

8.133227

-11.0326

66.90767

kgdp

647

2.479292

1.477718

.4119258

7.470435

ki

647

15.14009

7.802885

4.915226

75.59313

srvgdp

1291

42.75739

11.60396

10.4

80.12

 

MONEY VARIABLES

 

 

 

 

 

m1

824

15.84401

5.604902

5.039526

71.72787

qm

1249

2.45e+10

7.10e+10

0

7.83e+11

m2

1177

8.20e+10

2.13e+11

14.83

2.67e+12

m1gdp

1019

15.43925

5.455739

5.039526

71.72788

fin

1011

.2276367

.1015285

.0599297

.7904701

CIM

1177

.2674225

.1770234

0

.8232079

inf

1025

47.36715

758.8183

-17.78

23773.13

irpa

619

15.91648

8.655205

6

113.3

irpu

351

12.20513

10.1409

1

124

irpv

661

8.91997

6.512924

2

54.7

oxr

1646

200.5196

1519.4

0

59515

shxr

1383

134.3435

287.7154

.05

6934

pmxr

752

7048.453

118843.9

.6

3110000

reeradi

548

419.0474

366.3168

28

1810

bmpwb

1125

64.79449

278.3144

-55.89

4806.89

bmprb

686

964371.9

1.58e+07

-93.93854

3.44e+08

blk

1125

.2820856

.470979

-.8184837

3.893225

blkrb

686

.4938472

1.35771

-2.803219

15.05125

 

TRADVARS

 

 

 

 

 

G.ipi

1029

4.57732

16.7987

-74.52203

101.2594

G.totrb

1029

-.940562

17.30133

-93.43934

85.5968

G.xpi

1029

3.636759

20.85427

-82.47556

112.6869

icrd

1362

7.27e+08

1.16e+09

3738527

1.59e+10

ik87d

1074

1.07e+09

1.84e+09

1.09e+07

2.32e+10

ipi

1072

85.50097

42.34152

9.494146

254.3523

op

1383

64.02659

33.30384

6.32

181.64

totrb

1072

109.9302

34.15581

39.95361

347.6748

trdbts

1029

-.6363435

6.746247

-45.79084

63.48998

trdgdp

1342

67.96753

34.08674

6.32

205.23

trdshk

1029

4.07605

5.411731

.003756

63.48998

xcrd

1362

6.53e+08

1.27e+09

3149342

1.89e+10

xk87d

1074

8.85e+08

1.44e+09

4795367

1.28e+10

xpi

1072

88.2269

40.53464

11.03308

306.8426

 

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