RDP 2007-11: Global Imbalances and the Global Saving Glut – A Panel Data Assessment Appendix A: Data

Table A1: Statistical Sources and Databases
Abbreviation Full title
ABS Australian Bureau of Statistics
ADB Asian Development Bank
IFS International Financial Statistics, IMF, August 2006
ILO International Labour Organization
IMF International Monetary Fund
OECD Organisation for Economic Co-operation and Development
RBNZ Reserve Bank of New Zealand
WDI World Development Indicators, World Bank, 2006
WEO World Economic Outlook, IMF, September 2006
Table A2: Data Definitions and Sources
Variable Definition and notes Sources
(CA/GDP)it Current account balance to GDP; in percentage terms. ABS; RBNZ; WDI; WEO
crisisit-k Financial crises; episodes listed as: (i) systemic banking crises in Caprio and Klingebiel; or (ii) a currency crisis lasting for more than 12 months in Kaminsky. Crises attributed to the current account or sudden stops in Kaminsky are excluded. Caprio and Klingebiel (2003); Kaminsky (2003)
realexchangerateit Real effective exchange rate; a HP filter is taken through the log level of the real exchange rate. The deviation from trend is the difference between the log level of the real exchange rate and the HP-filtered log level. JP Morgan; WDI
fiscalbalanceit Fiscal balance to GDP; in percentage terms. ADB; IFS; IMF Article IV consultations; OECD; WEO
termsoftradeit Terms of trade; export prices over import prices. Due to a lack of data, the Russian terms of trade is proxied by the eastern Europe terms of trade. Bloomberg; Datastream; IFS
institutionsit Institutional quality; measured using the aggregate Economic Freedom of the World index. Data are available on a 5-yearly basis from 1970 to 2000; thereafter, they are available on an annual basis until 2004. Data are linearly interpolated between observations. Values for 2005 are assumed to be held constant at 2004 values. Gwartney and Lawson (2006)
dependencyratioit Dependency ratios; ratio of dependents (those aged less than 15 and over 64 years) to the working-age population (those aged 15–64 years). ILO; National Statistics Republic of China (Taiwan); WDI
growthit GDP growth forecasts; the two-year-ahead forecasts taken from the April/May WEO are used. Measured in per cent terms. IMF
financialdeepnessit Stock market turnover; total value of shares traded to average real-market capitalisation. Beck et al (2000)