Research Article
Growth and Volatility Reconsidered: Reconciling Opposite Views
Table 3
Data sources and descriptions.
| 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. | Barro-Lee dataset (2010) |
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