Convergence in two sets of countries Go to the Web site containing the Penn World Table and

Question:

Convergence in two sets of countries Go to the Web site containing the Penn World Table and collect data on real GDP per person (chained series) from 1950 to 2011 (or the most recent year available) for the United States, France, Belgium, Italy, Ethiopia, Kenya, Nigeria, and Uganda. You will need to download total real GDP in chained 2005 US dollars and population. Define for each country for each year the ratio of its real GDP per person to that of the United States for that year (so that this ratio will be equal to 1 for the United States for all years).

a. Plot these ratios for France, Belgium, and Italy over the period for which you have data. Does your data support the notion of convergence among France, Belgium, and Italy with the United States?

b. Plot these ratios for Ethiopia, Kenya, Nigeria, and Uganda. Does this data support the notion of convergence among Ethiopia, Kenya, Nigeria, and Uganda with the United States?

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Related Book For  book-img-for-question

Macroeconomics

ISBN: 9781292160504

7th Global Edition

Authors: Olivier J. Blanchard

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