By Edwin A Notley
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Extra resources for A Comparative Grammar of the French, Italian, Spanish and Portuguese Languages
This can be extended to differences in income levels between countries, to argue that in the long run income per capita levels will converge. A lack of empirical support for convergence and the presence of a large, unexplained ‘residual’ factor in the function estimates have presented a major challenge to these models. The endogenous growth theory put forward by Romer (1986) and Lucas (1988) led to renewed interest in economic growth analysis. 00 Notes: The variable listings vertically define the listings horizontally.
GE = Government effectiveness. RQ = Regulatory quality. Log NFCF = Logarithm of net fixed capital formation as a percentage of GDP. Log initial GDP per capita = Logarithm of initial (1980) GDP per capita. Log schooling = Initial (1980) secondary school enrolment (%). Trade = Exports + imports as a percentage of GDP. Inflation = Rate of inflation using country GDP deflators. Government expenditure = General government consumption expenditure as a percentage of GDP. Value figures were standardized to US$ valuations using purchasing power parities.
The assessment is based on expert analysis from an international network and is subject to peer review. , 1998). The second set of governance variables comprises a set of six aggregate indicators developed by the World Bank and drawn from 194 different measures (Kaufmann and Kraay, 2002). 2 The indicators are normalized, with higher values denoting better governance. The six indicators provide a subjective assessment of the following aspects of a country’s quality of governance: • Voice and accountability: respect for political rights and civil liberties, public participation in the process of electing policymakers, independence of media, accountability and transparency of government decisions.