Econ 050: Why do some countries grow wealthy while others do not?
|Date:||07 May 2019|
What do the modern day Ivory Coast and the 19th century Netherlands have in common? According to research from the Groningen Growth and Development Centre, the size of their economies is virtually identical.
In this episode of podcast Econ 050, Professor Robert Inklaar explains how the Groningen Growth and Development Centre works to answer the question of why some countries grow wealthy, and others do not. One of the centre's most powerful tools is the Penn World Table, which gathers data about the economic output and productivity of 180 countries around the world all the way back to the 1950s, and even further in some cases. But how can relative economic performance be compared? And how can intangible digital products and services be accounted for in measuring prosperity?
Listen to the full interview with Professor Inklaar to hear all about the past, present and even future of using data to figure out just how well any given country’s economy is doing.