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Penn World Table
Penn World Table
Penn World Table
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The Penn World Table (PWT) is a set of national-accounts data developed and maintained by scholars at the University of California, Davis and the Groningen Growth Development Centre of the University of Groningen to measure real GDP across countries and over time.[1][2] Successive updates have added countries (currently 183), years (1950-2019), and data on capital, productivity, employment and population.[3] The current version of the database, version 10, thus allows for comparisons of relative GDP per capita, as a measure of standard of living, the productive capacity of economies and their productivity level. Compared to other databases, such as the World Bank's World Development Indicators, the time period covered is larger and there is more data that is useful for comparing productivity across countries and over time.

A common practice for comparing GDPs across countries has been to use exchange rates. However, this assumes that this relative price – based on traded products – is representative of all relative prices in the economy, i.e. that it represents the purchasing power parity (PPP) of each currency. By contrast, PWT uses detailed prices within each country for different expenditure categories, regardless of whether the output is traded internationally (say, computers) or not (say, haircuts). These detailed prices are combined into an overall relative price level, typically referred to as the country's PPP. The detailed prices used to compute PPPs are based on data published by the World Bank as part of the International Comparison Program (ICP).

An empirical finding documented extensively by PWT is the Penn effect, the finding that real GDP is substantially understated when using exchange rates instead of PPPs in comparing GDP across countries. The most common argument to explain this finding is the Balassa-Samuelson effect, which argues that as countries grow richer, productivity increases mostly in manufacturing and other traded activities. This drives up wages and thus prices of many (non-traded) services, increasing the overall price level of the economy. The result is that poorer countries, such as China, are shown to be much richer based on PPP-converted real GDP than based on exchange-rate-converted GDP.

The database gets its name from the original developers at the University of Pennsylvania, Robert Summers, Irving Kravis and Alan Heston.[4]

See also

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Notes

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References

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Penn World Table

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The Penn World Table (PWT) is a comprehensive database that supplies internationally comparable estimates of (GDP), , capital inputs, and other key economic indicators for 185 countries spanning the years 1950 to 2023, with data adjusted using parities (PPPs) to facilitate cross-country and intertemporal analyses of economic performance and living standards. Originating in the 1970s at the , the PWT was initially developed by economists Irving B. Kravis, Alan Heston, Robert Summers, and Bettina Aten, who compiled versions up to 7.1 by integrating data with PPP benchmarks from the International Comparison Program (ICP) to create a standardized set of economic time series denominated in common prices. Since version 8.0, released in 2013, the project has been led by Robert C. Feenstra at the , and Robert Inklaar and Marcel P. Timmer at the University of 's Groningen Growth and Development Centre (GGDC), marking a "next generation" overhaul that incorporated improved methodologies for output-side real GDP, adjustments, and capital services to better support growth accounting and research. The latest edition, PWT 11.0, published on October 7, 2025, extends coverage to include updated , recent ICP benchmarks, and enhanced estimates of comparative price levels and productivity growth, making it an essential resource for empirical economics, , and academic studies on global inequality and development. Key features include variables for both expenditure- and output-side GDP in current and chained PPPs, population figures, and inputs like and capital stocks, all licensed under Attribution 4.0 for broad accessibility via platforms such as DataverseNL.

Overview

Purpose and Scope

The Penn World Table (PWT) is a comprehensive database that provides estimates of real GDP, , and related economic variables, all adjusted for (PPP) to enable meaningful international comparisons. By converting data into a common and framework, the PWT addresses the limitations of nominal exchange rates, which often fail to reflect true differences in living costs and output across countries. This PPP adjustment ensures that the data capture relative economic performance rather than absolute monetary values, making it a vital resource for researchers studying global disparities. The primary purpose of the PWT is to facilitate the analysis of , income levels, and differences between countries over extended periods. It supports investigations into living standards, , and the drivers of by offering standardized metrics that allow for consistent cross-country and intertemporal assessments. For instance, economists use the PWT to examine convergence in incomes or the impact of policy reforms on , relying on its emphasis on relative levels to draw robust conclusions. In terms of scope, the latest version of the PWT (version 11.0) covers 185 countries from to 2023, providing a broad temporal and geographical foundation for global economic research. This extensive coverage underscores its role in standardizing disparate data into a comparable format, enabling users to track long-term trends without the distortions of varying practices or . By prioritizing relative indicators, the database highlights patterns in economic performance that inform policy decisions and academic studies worldwide.

Key Variables and Indicators

The Penn World Table (PWT) provides a suite of core economic metrics designed to facilitate cross-country and intertemporal comparisons of economic performance, with all real variables expressed in international dollars benchmarked to 2021 dollars for enhanced comparability. These indicators draw from and international benchmarks, enabling researchers to assess levels and growth in output, inputs, and productivity without the distortions of nominal exchange rates. (PPP) adjustments underpin these variables, allowing for consistent valuation across economies (detailed in the section). Among the primary output measures, rgdpo (real GDP per capita on the expenditure side) captures living standards by valuing household consumption, , and at PPP, derived from aggregated data adjusted for price levels. Similarly, rgdpna (output-side real GDP) quantifies total economic production in volume terms, focusing on across sectors and using growth rates from extrapolated via PPP benchmarks. For consumption, cgdpo represents real gross domestic product on the output side at current PPPs, providing a measure of productive capacity adjusted for international price differences, though it emphasizes aggregate output rather than final household use. Input indicators include labor measures such as emp (total employment, in persons engaged) and hc (human capital index), where the latter proxies workforce quality based on educational attainment data from sources like Barro-Lee datasets, weighted by returns to schooling. Capital inputs are represented by ck (capital stock), estimated from cumulative investment flows by asset type (e.g., machinery and structures) at PPP values, serving as a key factor in production function analyses. Investment dynamics are tracked via ci (share of gross capital formation in current PPPs on the expenditure side), indicating the proportion of output devoted to expanding productive capacity. A distinctive feature of the PWT is its emphasis on productivity metrics, particularly rtfpna (relative total factor productivity on the output side), which gauges efficiency in combining capital and labor to produce output, expressed relative to the benchmark and derived from residual growth after accounting for input changes. This indicator highlights structural differences in across countries, supporting analyses of convergence and technological progress. For instance, in recent data, rtfpna levels vary widely, with advanced economies often exceeding 1.0 (U.S. = 1) while many developing nations remain below 0.5, underscoring global gaps.

History

Origins and Early Development

The Penn World Table (PWT) originated in the 1970s at the University of Pennsylvania, where economists Irving B. Kravis, Robert Summers, and Alan Heston developed it as an extension of their work on international economic comparisons. The project's name reflects its institutional home at the time, and the trio's collaboration built directly on the International Comparison Program (ICP), which they initiated in 1968 under the auspices of the United Nations to produce reliable cross-country measures of economic output. This foundational effort addressed a critical gap in global economics: the inadequacy of market exchange rates for comparing real incomes and living standards across nations, which often distorted assessments due to fluctuations in currency values and trade barriers. Instead, the PWT emphasized purchasing power parities (PPPs) to convert national accounts into a common, comparable framework, enabling more accurate evaluations of productivity and welfare. The first major output linked to the PWT came from Phase III of the ICP, detailed in a 1978 publication by Kravis, Heston, and Summers, which provided benchmark PPP estimates for (GDP) based on reference years 1970 and 1975. This release covered approximately 10 countries for the 1970 benchmark and 34 countries for 1975, focusing on detailed price and quantity data for consumption, investment, and government expenditure to derive real GDP in international dollars. These benchmarks represented the initial dataset for the PWT, highlighting disparities in economic performance; for instance, they revealed that PPP-adjusted incomes were substantially higher than exchange-rate conversions for many developing economies, underscoring the method's value for policy analysis. In 1980, Summers, Kravis, and Heston formalized the PWT with its version, expanding the 1978 ICP results into a time-series spanning 1950 to 1977 for the 34 Phase III countries. This iteration introduced methods to estimate PPPs for non-benchmark years through , using growth rates to project real output changes while holding benchmark prices constant, thus creating a continuous panel for cross-country growth studies. During the early , further refinements incorporated additional ICP phases, such as Phase IV (1980 benchmark), and began applying interpolation techniques between benchmarks to fill data gaps for a broader set of economies, laying the groundwork for wider adoption in empirical research. These developments in the pre-1990 era established the PWT as a cornerstone for international comparisons, with subsequent institutional shifts occurring after 1990.

Institutional Evolution and Major Releases

In the 1990s, the Penn World Table (PWT) began incorporating data from international benchmarks coordinated by organizations such as the and the World Bank through the International Comparison Program (ICP), enhancing its global comparability while still primarily maintained at the . This period marked a shift toward broader institutional collaboration for (PPP) estimates, building on the ICP's expansion from 60 countries in 1980 (Phase IV) to 115 in 1993 (Phase VI), and further to 146 in 2005. By the early , the project transitioned to joint leadership by Robert C. Feenstra at the , and Robert Inklaar and Marcel P. Timmer at the University of Groningen's Groningen Growth and Development Centre (GGDC), following contributions from Alan Heston at the , with version 8.0 in 2013 representing the first major release under the new leadership. Key milestones in PWT releases reflect ongoing refinements to coverage and . Version 5.6, released in 1991, expanded the dataset to 152 countries and territories for 1950–1992, incorporating updated and more detailed expenditure categories for improved international comparisons. PWT 6.1, issued in 2002 (with data through 1999), refined PPP calculations by integrating revised ICP benchmarks from 1993 and addressing inconsistencies in price data aggregation, resulting in more stable growth rate estimates across revisions. Version 7.0, released in 2011 (covering 1950–2009), introduced comprehensive capital estimates derived from perpetual inventory methods, which helped mitigate upward biases in earlier growth rates for developing economies by applying adjustments based on capital-labor ratios. Subsequent releases under GGDC's co-stewardship with UC Davis further advanced the dataset's scope and integration. PWT 8.0 (2013) incorporated multi-year ICP benchmarks from 1970 to 2005, enabling consistent temporal of PPPs and reducing distortions from single-benchmark extrapolations. Version 9.0 (2016, extending to 2014) added a based on years of schooling and returns to , allowing researchers to account for labor quality in analyses. PWT 10.0, released in January 2021, covered 183 countries from 1950 to 2019, incorporating the latest ICP 2017 results for refined PPP updates. PWT 11.0, released on October 7, 2025, extended coverage to 185 countries through 2023, integrating updated and the most recent ICP benchmarks for enhanced estimates of comparative price levels and growth. Since 2013, with PWT 8.0, GGDC has served as co-maintainer with UC Davis, issuing updates that align with periodic ICP benchmarks—typically every three to five years—to ensure timely integration of new price and expenditure data, while maintaining for long-term research series. These revisions, such as those in version 7.0, have notably corrected overestimations of growth in low-income countries from prior extrapolations, improving the reliability of cross-country convergence studies.

Methodology

Data Sources and Collection

The Penn World Table (PWT) relies on data as its primary raw input for core economic variables, including (GDP), private consumption, government consumption, (investment), and trade balances. These data are sourced directly from official national statistical agencies and compiled internationally through databases such as the United Nations Statistics Division's National Accounts Main Aggregates Database, which provides annual series in current and constant local prices, exchange rates, and estimates. For instance, GDP and its expenditure components are drawn from standardized frameworks to capture volume growth and price changes over time. In PWT 11.0, official Chinese data are used from 1952 onward, replacing adjusted estimates to enhance reliability. To enable cross-country price comparisons, the PWT incorporates benchmark price and expenditure data from the World Bank's International Comparison Program (ICP), which has conducted global surveys every 3 to 6 years since 1970, progressively expanding coverage to nearly 200 countries in recent cycles. The PWT aggregates data from multiple ICP benchmarks, such as the 2011 cycle (covering 199 countries), the 2017 cycle (covering 201 economies, revised to 176), and the 2021 cycle (covering 196 countries), selecting and adjusting subsets for consistency with national accounts while excluding less reliable regional or partial surveys. This collection process involves harmonizing expenditure categories across benchmarks to align with GDP components, ensuring the data support real output measures at international prices. PWT 11.0 integrates these cycles for enhanced coverage. For years without ICP benchmarks, the PWT extrapolates real volumes and implicit prices from the nearest reference benchmark using growth rates and deflators derived from data, preserving relative levels while allowing for domestic differentials. This temporal bridging maintains continuity in time series spanning 1950 to the present for over 180 countries. Data gaps, particularly in for smaller or less-developed economies, are addressed through imputation techniques, such as interpolating missing values between available observations or applying regional averages from comparable countries. For example, incomplete investment series in some African nations may be estimated using sub-Saharan averages adjusted for GDP , with flags indicating imputed data to alert users. These methods minimize biases while maximizing coverage, though they introduce some uncertainty in low-data environments.

Purchasing Power Parity Adjustments

Purchasing power parity (PPP) adjustments in the Penn World Table (PWT) enable the conversion of nominal economic values from national currencies into internationally comparable real terms, addressing distortions caused by fluctuations by using price relatives across countries for a standardized basket of . This approach ensures that comparisons of economic output, such as GDP, reflect differences in rather than nominal currency values, facilitating accurate cross-country analysis of living standards and productivity. The PWT employs the Geary-Khamis (G-K) method, a multilateral aggregation technique, to derive PPP exchange rates from benchmark data collected through the International Comparison Program (ICP). In this process, ICP price data for basic headings (e.g., categories like or ) are first aggregated using the GEKS (Gini-Eltetö-Köves-Szulc) index to ensure transitivity across countries, then combined into overall GDP PPPs via the G-K method, which calculates quantity-weighted average reference prices. The resulting PPPs express values in international dollars, a hypothetical unit representing the of the U.S. dollar in a reference year (2021 in PWT 11.0). To extend these benchmark PPPs across non-benchmark years, the PWT uses spatio-temporal indexing, linking multiple ICP benchmarks (such as those from 1970, 1993, 2003, 2005, 2011, 2017, and 2021) through and based on data. Between benchmarks, price changes are using relative national price indices; beyond the latest benchmark, relies on GDP deflators to adjust for , maintaining consistency in real volume comparisons over time. This temporal linking preserves the multilateral nature of the PPPs while incorporating country-specific price movements. The core formula for PPP adjustment derives the PPP exchange rate for a country jj and category qq as the ratio of local expenditure to expenditure at reference prices: PPPjq=∑ipjiqji∑iπiqjiPPP_{jq} = \frac{\sum_i p_{ji} q_{ji}}{\sum_i \pi_i q_{ji}} where pjip_{ji} are local prices, πi\pi_i are G-K reference prices, and qjiq_{ji} are quantities in country jj. Real GDP is then computed by dividing nominal GDP by this PPP rate: Real GDPj=Nominal GDPjPPPjq\text{Real GDP}_j = \frac{\text{Nominal GDP}_j}{PPP_{jq}} yielding output in international dollars. This derivation ensures additivity, allowing real GDP components (e.g., consumption, investment) to sum to total real GDP.

Productivity and Capital Stock Calculations

The capital stock in the Penn World Table (PWT), denoted as ck, is estimated using the perpetual inventory method (PIM), which accumulates past investments while accounting for depreciation. This approach begins with an initial capital stock benchmark, typically derived from 1950 data for many countries or approximated using a capital-output ratio for earlier periods, and extends forward through the series. Investments are drawn from national accounts data on gross fixed capital formation, disaggregated into asset types such as structures, machinery, transport equipment, computers, communication equipment, and software, with shares based on nonresidential (cn) and residential (ci) components where applicable. The PIM applies asset-specific geometric depreciation rates, ranging from 2% for structures to 31.5% for computers and software, held constant across countries and sourced from U.S. Bureau of Economic Analysis benchmarks. Investments are adjusted to purchasing power parity (PPP) terms using relative price levels for equipment and structures, ensuring international comparability. The core equation is: cka,i,t=(1−δa)⋅cka,i,t−1+Ia,i,tck_{a,i,t} = (1 - \delta_a) \cdot ck_{a,i,t-1} + I_{a,i,t} where cka,i,tck_{a,i,t} is the capital stock for asset aa in country ii at time tt, δa\delta_a is the depreciation rate for asset aa, and Ia,i,tI_{a,i,t} is the PPP-adjusted investment in that asset. Aggregate capital stock is then obtained by summing across assets, weighted by their shares in total investment at current prices. Total factor productivity (TFP) in the PWT, specifically the relative TFP level at constant national prices (rtfpna), is computed as the residual from a Cobb-Douglas production function that decomposes output into contributions from capital, labor, and efficiency. The function assumes: Y=A⋅Kα⋅(L⋅hc)1−αY = A \cdot K^{\alpha} \cdot (L \cdot hc)^{1 - \alpha} where YY is real gross domestic product at constant national prices (rgdpna), measuring output in volume terms using domestic deflators, AA is TFP (rtfpna), KK is the capital stock (ck), LL is the number of persons engaged in employment (emp), hchc is the human capital index per person, and α\alpha is the output elasticity of capital (typically around 0.3 to 0.4, though estimated as country- and time-specific based on the complement of the labor income share). Solving for TFP yields: rtfpna=rgdpnackα⋅(emp⋅hc)1−αrtfpna = \frac{rgdpna}{ck^{\alpha} \cdot (emp \cdot hc)^{1 - \alpha}} This residual measures the efficiency with which inputs are combined to produce output, normalized relative to the United States in a base year. The calculation incorporates PPP adjustments to ensure cross-country consistency, with growth rates often derived using Törnqvist indices for inputs to handle varying elasticities. Human capital adjustment in the PWT (hc) augments raw labor input by accounting for educational attainment, using average years of schooling for the population aged 15 and older as a proxy. The index is constructed via a piecewise linear Mincerian earnings function that applies marginal returns to education by attainment level: 13.4% for the first four years, 10.1% for the next four years, and 6.8% for years beyond eight. These returns are drawn from meta-analysis estimates in Psacharopoulos (1994). Schooling data primarily come from the Barro-Lee dataset (version 2.0, covering 1950–2010 at five-year intervals for up to 146 countries), supplemented by Cohen and Soto (2014) for more recent or alternative estimates in 55 countries, with selection guided by consistency checks against UNESCO and other benchmarks. The resulting hc is multiplied by employment (emp) to yield effective labor input, enhancing the TFP residual's accuracy in capturing skill-adjusted productivity differences. For example, in high-education economies like those in Western Europe, hc values exceed 3.0, reflecting substantial quality adjustments over raw hours or workers.

Applications and Impact

Use in Economic Research

The Penn World Table (PWT) has been extensively used in empirical tests of the Solow growth model, which posits that long-run stems from exogenous technological progress while factor accumulation drives transitional dynamics. Researchers employ PWT data on real GDP, capital stocks, and labor inputs to estimate model parameters, such as the capital share and convergence rates, often augmenting the framework with variables. For instance, replications of Mankiw, Romer, and Weil's (1992) augmented Solow specifications using various PWT versions reveal consistent positive effects of investment and schooling on growth, though revisions across versions can alter coefficient magnitudes and the validity of Solow restrictions. In convergence analyses, PWT facilitates β-convergence studies, where lower initial income levels predict faster subsequent growth due to . Econometric regressions on PWT GDP series across countries typically yield negative and significant β coefficients, supporting when controlling for factors like investment rates, though unconditional estimates vary by sample period and PPP methodology. Additionally, PWT's (TFP) and input measures enable decomposition of aggregate growth into contributions from , labor quantity/quality, and TFP residuals, revealing that factor accumulation often accounts for a larger share of growth in developing economies compared to advanced ones. Notable applications include Barro and Lee’s human capital regressions, where PWT integrates their average years of schooling data to construct indices for augmented growth models, enhancing explanations of income differences. Similarly, ’s seminal work on draws on PWT GDP series to illustrate cross-country income variations and the role of knowledge spillovers beyond Solow residuals. PWT data have profoundly shaped the growth literature, with core publications garnering over 7,000 citations and enabling thousands of annual references in empirical studies. Revisions, such as those in PWT 7.0, prompted reassessments of high-growth episodes by adjusting PPP-based growth rates, influencing debates on the drivers of rapid expansions in emerging markets. However, researchers highlight limitations, including sensitivity to PPP benchmarks that can distort relative income levels and errors in non-benchmark years that amplify volatility in growth estimates.

Role in Policy and International Comparisons

The Penn World Table (PWT) plays a pivotal role in informing policy decisions at international organizations by providing standardized (PPP)-adjusted data on economic output and , which underpins analyses of global inequality. For instance, the (IMF) incorporates PWT data into its World Economic Outlook reports to assess cross-country growth and inequality trends, enabling more accurate evaluations of disparities in living standards. Similarly, the World Bank's relies on PWT estimates of real GDP in PPP terms to adjust for cost-of-living differences when measuring human development outcomes. These applications help shape reports on global economic imbalances, guiding and development strategies. In international comparisons, PWT facilitates rankings of countries by PPP-adjusted GDP , highlighting stark contrasts in economic performance; for example, consistently ranks among the top economies with levels exceeding $100,000 in recent years, while conflict-affected nations like or appear at the bottom with figures below $5,000. This dataset also tracks long-term convergence trends, revealing how emerging economies have narrowed gaps with advanced ones since 1950, informing debates on global economic catch-up. Such comparisons are essential for national performance against international standards, though they emphasize relative levels rather than absolute metrics. PWT's productivity data has been instrumental in specific policy contexts, such as assessments of (EU) enlargement. During the 2004 and 2007 expansions, analyses drawing on PWT estimates demonstrated how integration boosted output per worker in new member states, supporting evaluations of economic cohesion and structural reforms. Likewise, for Sustainable Development Goal (SDG) 8 on decent work and economic growth, PWT contributes to monitoring progress through indicators of labor productivity and per capita growth, as utilized in platforms tracking global advancements toward inclusive economic expansion. Despite its influence, critiques highlight potential drawbacks in policy applications, particularly the over-reliance on periodic International Comparison Program (ICP) benchmarks, which can introduce biases into non-benchmark year extrapolations and skew aid allocations toward countries with favorable relative rankings. Studies have noted variability in PWT growth estimates across versions, potentially leading to misinformed decisions on development assistance if revisions alter perceived needs. These concerns underscore the need for cautious interpretation in high-stakes policy contexts.

Current Version and Access

Features of PWT 11.0

The Penn World Table (PWT) version 11.0, released on October 7, 2025, by the Growth and Development Centre (GGDC), extends coverage to 185 countries over the period from to 2023, providing comprehensive data on relative levels of , output, inputs, and . This release incorporates significant methodological advancements, building on the framework of previous versions while addressing gaps in data availability and accuracy. Key among these is the integration of the 2021 International Comparison Program (ICP) benchmark from the World Bank, which refines (PPP) estimates by incorporating updated comparative price data across a broader set of goods and services, thereby improving cross-country comparability of real GDP and consumption levels. A major enhancement in PWT 11.0 is the extension and refinement of the (TFP) series. Coverage expansions in this version include the addition of data for the years 2020–2023, drawn from preliminary released by international agencies, enabling timely assessments of post-pandemic recovery trajectories. This release also updates data for to use official series rather than previously adjusted Maddison/Wu series.

Availability and Updates

The Penn World Table (PWT) data is freely available for download from the at the , hosted on the DataverseNL platform with a persistent DOI for each release. Datasets are provided in Excel (.xlsx) and (.dta) formats, enabling users to select individual files such as aggregates or capital details, or perform bulk downloads for comprehensive analysis. Programmatic access is supported through the Dataverse Data Access API, allowing automated queries and retrieval for large-scale research applications. Accompanying documentation includes detailed user guides explaining variable definitions and usage, as well as release notes outlining methodological updates and data revisions in each version. The PWT follows an update cycle aligned with the International Comparison Program (ICP) benchmarks, which are periodically conducted under the auspices of the World Bank to generate updated purchasing power parities (PPPs). Major releases typically occur every few years following ICP data availability, incorporating the latest PPP estimates and national accounts revisions to extend time series coverage; for instance, PWT 11.0, released on October 7, 2025, integrates ICP 2017 revisions and national accounts data through 2023. This alignment ensures consistency with global standards, while interim updates—such as PWT 10.01 in 2023—address corrections or methodological refinements without adding new annual observations, including adjustments for significant events like the post-2020 COVID-19 pandemic impacts on economic data. Release announcements and downloads are managed directly through the GGDC website, with historical versions archived for reproducibility in longitudinal studies. Maintenance of the PWT is led by the GGDC in collaboration with key researchers, including Robert C. Feenstra at the , and Robert Inklaar and Marcel P. Timmer at the , who integrate inputs from international sources such as the World Bank's ICP for PPP benchmarks. The process relies on official data from member countries and organizations, ensuring rigorous validation before public release. User feedback mechanisms are facilitated through direct contact with the GGDC team via email or the project's official channels, contributing to refinements in subsequent versions. Looking ahead, the PWT team continues to evolve the database by incorporating emerging national accounts data and ICP cycles, with the next major release anticipated after the next World Bank ICP results are fully processed, potentially extending coverage beyond 2023. This iterative approach maintains the PWT's role as a dynamic resource for cross-country economic comparisons.

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