Table 1 Variables, calculations, sources...

Table 1

Variables, calculations, sources and data descriptions

Variables	Calculations	Sources	Obs.	Mean	Std. Dev.	Min	Max
rtfpna	TFP at constant national prices (2017 = 1)	PWT10.1	1,782	0.997	0.147	0.322	2.249
rwtfpna	Welfare-relevant TFP at constant national prices (2017 = 1)	PWT10.1	1,782	0.994	0.134	0.098	1.749
rnna	Capital stock at constant 2017 (in mil. 2017 USD)	PWT10.1	1,782	2,676,634	4,833,209	7,737	34,200,000
hcap	Human capital index, based on years of schooling and returns to education	PWT10.1	1,782	2.689	0.669	1.088	4.352
TFP1	Log of TFP at constant national prices (2017 = 1)	PWT10.1	1,782	−0.013	0.142	−1.134	0.811
TFP2	Log of welfare-relevant TFP at constant national prices (2017 = 1)	PWT10.1	1,782	−0.017	0.159	−2.325	0.559
Cap	$Log (\frac{Capital stock at constant 2017 (in 2017 USD)}{Labor force})$	PWT10.1	1,782	16.328	1.228	12.569	18.153
HC	Log of the index of human capital per person	PWT10.1	1,782	0.952	0.285	0.084	1.471
ToCN	The remaining trade openness excluding the trade OEC & WDI with China = Total trade (% GDP) − Total trade with China (% GDP)		1,782	84.236	53.610	17.820	408.611
ToUS	The remaining trade openness excluding the trade OEC & WDI with the US = Total trade (% GDP) − Total trade with the US (% GDP)		1,782	83.245	53.911	15.498	411.199
TradeCN	$\frac{Exports to China + Imports from China}{GDP (in current USD)}$	OEC & WDI	1,782	5.984	7.568	0.000	63.499
ExCN	$\frac{Goods, Value of Exports to China (USD)}{GDP (in current USD)}$	OEC & WDI	1,782	2.352	4.917	0.000	48.398
ImCN	$\frac{Goods, Value of Imports from China (USD)}{GDP (in current USD)}$	OEC & WDI	1,782	3.632	4.300	0.000	46.957
TBCN	$\frac{Goods, Value of Trade Balance with China (USD)}{GDP (in current USD)}$	OEC & WDI	1,782	−1.280	5.298	−45.416	34.242
TradeUS	$\frac{Exports to the US + Imports from the US (USD)}{GDP (in current USD)}$	OEC & WDI	1,782	6.975	8.915	0.038	67.556
ExUS	$(\frac{Goods, Value of Exports from the US (USD)}{(GDP (in current USD)})$	OEC & WDI	1,782	3.727	5.288	0.000	41.976
ImUS	$(\frac{Goods, Value of Imports from the US (USD)}{(GDP (in current USD)})$	OEC & WDI	1,782	3.248	4.378	0.032	31.663
TBUS	$(\frac{Goods, Value of Trade Balance from the US (USD)}{GDP (in current USD)})$	OEC & WDI	1,782	0.479	3.845	−18.271	22.601
INS	Institutional Quality is calculated as the average of six dimensions of governance: Voice and Accountability, Political Stability and Absence of Violence/Terrorism, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption	WGI	1,782	0.240	0.901	−1.901	1.947
TPU	Trade Policy Uncertainty Index	https://www.policyuncertainty.com/	1,782	47.54	42.42	23.57	169.4
UCT	US–China Tension Index	https://www.policyuncertainty.com/	1,782	102.9	27.43	59.19	168.8
ExCN-Agri	$\frac{Value of Agricultural Exports to China (USD)}{GDP (in current USD)}$	OEC	1,782	0.163	0.395	0.000	3.739
ImCN-Agri	$\frac{Value of Agricultural Imports from China (USD)}{GDP (in current USD)}$	OEC	1,782	0.121	0.244	0.000	3.235
ExCN-Manu	$\frac{Value of Manufactured Exports to China (USD)}{GDP (in current USD)}$	OEC	1,782	2.189	4.838	0.000	46.960
ImCN-Manu	$\frac{Value of Imports from China (USD)}{GDP (in current USD)}$	OEC	1,782	3.511	4.157	0.000	45.212
ExUS-Agri	$\frac{Value of Agricultural Exports to the US (USD)}{GDP (in current USD)}$	OEC	1,782	0.497	1.040	0.000	6.871
ImUS-Agri	$\frac{Value of Agricultural Imports from the US (USD)}{GDP (in current USD)}$	OEC	1,782	0.380	0.641	0.000	4.915
ExUS-Manu	$\frac{Value of Manufactured Exports to the US (USD)}{GDP (in current USD)}$	OEC	1,782	3.230	4.762	0.000	35.365
ImUS-Manu	$\frac{Value of Imports from the US (USD)}{GDP (in current USD)}$	OEC	1,782	2.868	3.862	0.016	27.991

Variables	Calculations	Sources	Obs.	Mean	Std. Dev.	Min	Max
rtfpna	TFP at constant national prices (2017 = 1)	PWT10.1	1,782	0.997	0.147	0.322	2.249
rwtfpna	Welfare-relevant TFP at constant national prices (2017 = 1)	PWT10.1	1,782	0.994	0.134	0.098	1.749
rnna	Capital stock at constant 2017 (in mil. 2017 USD)	PWT10.1	1,782	2,676,634	4,833,209	7,737	34,200,000
hcap	Human capital index, based on years of schooling and returns to education	PWT10.1	1,782	2.689	0.669	1.088	4.352
TFP1	Log of TFP at constant national prices (2017 = 1)	PWT10.1	1,782	−0.013	0.142	−1.134	0.811
TFP2	Log of welfare-relevant TFP at constant national prices (2017 = 1)	PWT10.1	1,782	−0.017	0.159	−2.325	0.559
Cap	$Log (\frac{Capital stock at constant 2017 (in 2017 USD)}{Labor force})$	PWT10.1	1,782	16.328	1.228	12.569	18.153
HC	Log of the index of human capital per person	PWT10.1	1,782	0.952	0.285	0.084	1.471
ToCN	The remaining trade openness excluding the trade OEC & WDI with China = Total trade (% GDP) − Total trade with China (% GDP)		1,782	84.236	53.610	17.820	408.611
ToUS	The remaining trade openness excluding the trade OEC & WDI with the US = Total trade (% GDP) − Total trade with the US (% GDP)		1,782	83.245	53.911	15.498	411.199
TradeCN	$\frac{Exports to China + Imports from China}{GDP (in current USD)}$	OEC & WDI	1,782	5.984	7.568	0.000	63.499
ExCN	$\frac{Goods, Value of Exports to China (USD)}{GDP (in current USD)}$	OEC & WDI	1,782	2.352	4.917	0.000	48.398
ImCN	$\frac{Goods, Value of Imports from China (USD)}{GDP (in current USD)}$	OEC & WDI	1,782	3.632	4.300	0.000	46.957
TBCN	$\frac{Goods, Value of Trade Balance with China (USD)}{GDP (in current USD)}$	OEC & WDI	1,782	−1.280	5.298	−45.416	34.242
TradeUS	$\frac{Exports to the US + Imports from the US (USD)}{GDP (in current USD)}$	OEC & WDI	1,782	6.975	8.915	0.038	67.556
ExUS	$(\frac{Goods, Value of Exports from the US (USD)}{(GDP (in current USD)})$	OEC & WDI	1,782	3.727	5.288	0.000	41.976
ImUS	$(\frac{Goods, Value of Imports from the US (USD)}{(GDP (in current USD)})$	OEC & WDI	1,782	3.248	4.378	0.032	31.663
TBUS	$(\frac{Goods, Value of Trade Balance from the US (USD)}{GDP (in current USD)})$	OEC & WDI	1,782	0.479	3.845	−18.271	22.601
INS	Institutional Quality is calculated as the average of six dimensions of governance: Voice and Accountability, Political Stability and Absence of Violence/Terrorism, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption	WGI	1,782	0.240	0.901	−1.901	1.947
TPU	Trade Policy Uncertainty Index	https://www.policyuncertainty.com/	1,782	47.54	42.42	23.57	169.4
UCT	US–China Tension Index	https://www.policyuncertainty.com/	1,782	102.9	27.43	59.19	168.8
ExCN-Agri	$\frac{Value of Agricultural Exports to China (USD)}{GDP (in current USD)}$	OEC	1,782	0.163	0.395	0.000	3.739
ImCN-Agri	$\frac{Value of Agricultural Imports from China (USD)}{GDP (in current USD)}$	OEC	1,782	0.121	0.244	0.000	3.235
ExCN-Manu	$\frac{Value of Manufactured Exports to China (USD)}{GDP (in current USD)}$	OEC	1,782	2.189	4.838	0.000	46.960
ImCN-Manu	$\frac{Value of Imports from China (USD)}{GDP (in current USD)}$	OEC	1,782	3.511	4.157	0.000	45.212
ExUS-Agri	$\frac{Value of Agricultural Exports to the US (USD)}{GDP (in current USD)}$	OEC	1,782	0.497	1.040	0.000	6.871
ImUS-Agri	$\frac{Value of Agricultural Imports from the US (USD)}{GDP (in current USD)}$	OEC	1,782	0.380	0.641	0.000	4.915
ExUS-Manu	$\frac{Value of Manufactured Exports to the US (USD)}{GDP (in current USD)}$	OEC	1,782	3.230	4.762	0.000	35.365
ImUS-Manu	$\frac{Value of Imports from the US (USD)}{GDP (in current USD)}$	OEC	1,782	2.868	3.862	0.016	27.991

Note(s): The data are collected from various sources. PWT 10.01 refers to the Penn World Table, version 10.01; WDI refers to the World Development Indicators database, World Bank (Sep. 2024); DOT refers to the Direction of Trade, IMF (Sep. 2024). Trade data are collected from the OEC (The Observatory of Economic Complexity) and nominal GDP is obtained from WDI. WGI refers to the Worldwide Governance Indicators

Source(s): Formed by authors

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