
Variable name  Definition and construction  Source 

GDP growth rate  Percentage growth rate of real GDP per capita in constant prices. Reference year: 1996, Laspeyres index.  Penn World Tables 6.3 
GDP volatility  Standard deviation of real GDP growth rate. Yearly series.  Penn World Tables 6.3 
Consumption volatility  Standard deviation of real consumption growth rate (real GDP times consumption share of GDP). Yearly series.  Penn World Tables 6.3 
Investment volatility  Standard deviation of real Investment growth rate (real GDP times investment share of GDP). Yearly series.  Penn World Tables 6.3 
Gov. consumption volatility  Standard deviation of real public consumption growth rate (real GDP times government cons.share of GDP). Yearly series.  Penn World Tables 6.3 
Investment share of GDP  Log level of the investment share of real GDP. Yearly series.  Penn World Tables 6.3 
Initial GDP  Log level of GDP of the 1st year of the window of which the corresponding volatility is computed. Yearly series.  Penn World Tables 6.3 
Population growth rate  Percentage growth rate of population. Yearly series.  Penn World Tables 6.3 
Education  Logarithm of the percentage of secondary schooling attained in population aged 25 years and over.  BarroLee dataset (2010) 
