According to Table 5 and Table 6, which one of the following conclusions is correct? (Check all that apply, two correct answers.) The region has suffered from high volatility of growth compared to other regions of the world. Because all oil producing countries have done worse than non-oil producing countries, the theory that oil is the source of all problems of the region may be a valid explanation for the economic performance of the region. O In general, growth in the region decreased from 1960 to 2000. O The region has always suffered from low growth rates, compared to other regions of the world.
According to Table 5 and Table 6, which one of the following conclusions is correct? (Check all that apply, two correct answers.) The region has suffered from high volatility of growth compared to other regions of the world. Because all oil producing countries have done worse than non-oil producing countries, the theory that oil is the source of all problems of the region may be a valid explanation for the economic performance of the region. O In general, growth in the region decreased from 1960 to 2000. O The region has always suffered from low growth rates, compared to other regions of the world.
Chapter8: Productivity And Growth
Section: Chapter Questions
Problem 2.4P
Related questions
Question
A4
![According to Table 5 and Table 6, which one of the following conclusions is correct? (Check all that
apply, two correct answers.)
The region has suffered from high volatility of growth compared to other regions of the world.
Because all oil producing countries have done worse than non-oil producing countries, the theory that oil is
the source of all problems of the region may be a valid explanation for the economic performance of the
region.
O In general, growth in the region decreased from 1960 to 2000.
O The region has always suffered from low growth rates, compared to other regions of the world.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcaa27e7e-907c-4061-9a59-8cfa07ca249e%2Ff42af893-e8b1-4841-b149-1de829951d06%2Fvqfscvt_processed.png&w=3840&q=75)
Transcribed Image Text:According to Table 5 and Table 6, which one of the following conclusions is correct? (Check all that
apply, two correct answers.)
The region has suffered from high volatility of growth compared to other regions of the world.
Because all oil producing countries have done worse than non-oil producing countries, the theory that oil is
the source of all problems of the region may be a valid explanation for the economic performance of the
region.
O In general, growth in the region decreased from 1960 to 2000.
O The region has always suffered from low growth rates, compared to other regions of the world.
![Table 5. Mean and volatility of output growth rates across different regions
Country Groups
1961–1980
1981–2000
1961-2000
Мaan
Volatility
Mean
Volatility
Mean
Volatility
2.26
2.82
Europe
America
3.58
2.94
2.31
2.91
2.62
3.99
0.65
4.19
1.64
4.30
North
2.21
2.96
4.38
3.06
1.62
2.34
2.72
South
2.55
4.26
0.51
1.53
4.53
Asia and Australia
3.12
3.48
3.33
3.07
3.23
3.50
Advanced
3.30
3.34
1.93
2.19
2.61
3.02
Other
3.08
3.51
3.68
3.28
3.38
3.62
MENA
3.47
7.96
1.62
4.30
2.54
6.54
Africa
1.79
7.98
0.55
7.10
1.17
7.90
World
2.64
5.45
1.39
6.15
2.02
6.36
Source: Computations are based on Penn World Tables (PWT 6.1) with country groups defined in
Table 1 of Pesaran (2006). Output growth volatility is measured as the standard deviation of output
growth rates over the specified period scaled by the absolute mean growth rate over the same period.
Table 6. Mean output growth rates and measures of growth volatility for selected
MENA countries
Country
1961–1980
1981–2000
1961–2000
Мean
SD
Mean
SD
Мean
SD
Algeria
Egypt
3.407
10.768
0.202
3.148
1.804
7.997
2.673
6.099
2.785
1.241
2.729
4.344
Iran
2.536
9.655
2.238
6.126
2.387
7.983
Jordan
9.123
5.048
5.827
3.236
-0.072
1.582
7.468
Morocco
4.248
4.882
1.280
2.764
5.515
Syria
4.954
15.210
1.834
6.617
3.394
11.685
Tunisia
4.297
4.522
2.269
2.569
3.257
3.747
Turkey
2.439
3.440
2.386
3.797
2.412
3.577](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcaa27e7e-907c-4061-9a59-8cfa07ca249e%2Ff42af893-e8b1-4841-b149-1de829951d06%2F1kvai3_processed.png&w=3840&q=75)
Transcribed Image Text:Table 5. Mean and volatility of output growth rates across different regions
Country Groups
1961–1980
1981–2000
1961-2000
Мaan
Volatility
Mean
Volatility
Mean
Volatility
2.26
2.82
Europe
America
3.58
2.94
2.31
2.91
2.62
3.99
0.65
4.19
1.64
4.30
North
2.21
2.96
4.38
3.06
1.62
2.34
2.72
South
2.55
4.26
0.51
1.53
4.53
Asia and Australia
3.12
3.48
3.33
3.07
3.23
3.50
Advanced
3.30
3.34
1.93
2.19
2.61
3.02
Other
3.08
3.51
3.68
3.28
3.38
3.62
MENA
3.47
7.96
1.62
4.30
2.54
6.54
Africa
1.79
7.98
0.55
7.10
1.17
7.90
World
2.64
5.45
1.39
6.15
2.02
6.36
Source: Computations are based on Penn World Tables (PWT 6.1) with country groups defined in
Table 1 of Pesaran (2006). Output growth volatility is measured as the standard deviation of output
growth rates over the specified period scaled by the absolute mean growth rate over the same period.
Table 6. Mean output growth rates and measures of growth volatility for selected
MENA countries
Country
1961–1980
1981–2000
1961–2000
Мean
SD
Mean
SD
Мean
SD
Algeria
Egypt
3.407
10.768
0.202
3.148
1.804
7.997
2.673
6.099
2.785
1.241
2.729
4.344
Iran
2.536
9.655
2.238
6.126
2.387
7.983
Jordan
9.123
5.048
5.827
3.236
-0.072
1.582
7.468
Morocco
4.248
4.882
1.280
2.764
5.515
Syria
4.954
15.210
1.834
6.617
3.394
11.685
Tunisia
4.297
4.522
2.269
2.569
3.257
3.747
Turkey
2.439
3.440
2.386
3.797
2.412
3.577
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