Are International Differences in Living Standards Really So Hard to Explain?
|Abstract:||A cross-country regression using only a handful of deeply rooted explanatory variables accounts for 80 percent of the variation in living standards across countries. Most of the biggest residuals from the regression can also be explained, at least partially, with rudimentary facts about the associated countries. What remains may be a useful indicator of a country’s openness and innovative capacity throughout its economic history.|
|Rights:||Copyright Daniel Altman, March 2013.|
|Appears in Collections:||Economics Working Papers|
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|Altman_LivingStandards_Mar2013.pdf||Are International Differences In Living Standards Really So Hard to Explain?||125.93 kB||Adobe PDF||View/Open|
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