U.S. 1.00 1.00 Canada 0.91 0.93 Russia 0.37 0.32 South Africa 0.26 0.23 0.21 0.11 0.15 0.06 Japan 0.90 1.01 The rest of Asia* 0.29 0.14 0.33 0.27 Eastern Europe* Western Europe* 1.00 1.29 Middle East* 0.29 0.13 America* 0.36 0.16 Oceania* 0.95 1.50 Note: TFP based on adjusted output/capita” is based on the method in Hall and Jones “Hypothetical (1999) updated by the author to 2007 using PWT7.0, but assuming that capital/output ratios are the same in all regions. measured by relative McWages” is the McWage Ratio for each region. Both “TFP TFP measures are expressed relative to the US level. Economic regions are aggregated using population weights from 2010. The Rest of Asia includes Hong Kong, Indonesia, Korea, Sri Lanka, Malaysia, Philippines, Singapore, and Thailand; the Eastern Europe includes Czech Republic, Estonia, Lithuania, Latvia, Poland, and Ukraine; The Western Europe includes Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, UK, Ireland, Italy, Netherland, Norway, and Sweden; The Middle East includes Egypt, Israel, Morocco, Pakistan, Saudi Arabia, and Turkey; the Latin America includes Argentina, Chile, Colombia, Dominican Republic, Ecuador, Guatemala, Honduras, Mexico, Peru, El Salvador, Uruguay, and Venezuela; Oceania includes Australia and New Zealand. Source: Authors Calculation.
U.S. 1.00 1.00 Canada 0.91 0.93 Russia 0.37 0.32 South Africa 0.26 0.23 0.21 0.11 0.15 0.06 Japan 0.90 1.01 The rest of Asia* 0.29 0.14 Eastern Europe* 0.33 0.27 Western Europe* 1.00 1.29 Middle East* 0.29 0.13 America* 0.36 0.16 Oceania* 0.95 1.50 Note: “Hypothetical TFP based on adjusted output/capita” is based on the method in Hall and Jones (1999) updated by the author to 2007 using PWT7.0, but assuming that capital/output ratios are the same in all regions. “TFP measured by relative McWages” is the McWage Ratio for each region. Both TFP measures are expressed relative to the US level. Economic regions are aggregated using population weights from 2010. The Rest of Asia includes Hong Kong, Indonesia, Korea, Sri Lanka, Malaysia, Philippines, Singapore, and Thailand; the Eastern Europe includes Czech Republic, Estonia, Lithuania, Latvia, Poland, and Ukraine; The Western Europe includes Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, UK, Ireland, Italy, Netherland, Norway, and Sweden; The Middle East includes Egypt, Israel, Morocco, Pakistan, Saudi Arabia, and Turkey; the Latin America includes Argentina, Chile, Colombia, Dominican Republic, Ecuador, Guatemala, Honduras, Mexico, Peru, El Salvador, Uruguay, and Venezuela; Oceania includes Australia and New Zealand. Source: Authors Calculation.