Replication data for: Relative Prices and Relative Prosperity

Principal Investigator(s):  View help for Principal Investigator(s) Chang-Tai Hsieh; Peter J. Klenow

Version:  View help for Version V1

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Project Citation: 

Hsieh, Chang-Tai, and Klenow, Peter J. Replication data for: Relative Prices and Relative Prosperity. Nashville, TN: American Economic Association [publisher], 2007. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116268V1

Project Description

Summary:  View help for Summary The positive correlation between real investment rates and real income levels across countries is driven largely by differences in the price of investment relative to output. The high relative price of investment in poor countries is due to the low price of consumption goods in those countries. Investment prices are no higher in poor countries. Thus, the low real investment rates in poor countries are not driven by high tax or tariff rates on investment. Poor countries, instead, appear to be plagued by low efficiency in producing investment goods and in producing consumer goods to trade for them. (JEL E22, E23, O16, O47)

Scope of Project

JEL Classification:  View help for JEL Classification
      E22 Investment; Capital; Intangible Capital; Capacity
      E23 Macroeconomics: Production
      O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
      O47 Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence


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V1 [2019-12-07]

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