Chapter 5 Data Apps

The Solow Growth Model

Explore the data of Chapter 5 without any code. Every chart below is live: hover over it to read the values, and use its buttons, menus and sliders to change what it shows.

← Back to Chapter 5: The Solow Growth Model

See also: Chapter 5 Model Apps, the chapter’s models without code.

Does the model fit the data?

Fig. 3: Explaining capital across countries

Move the slider to change the depreciation rate; a rate of about 7 to 9 percent makes the model line run through the middle of the cloud.

Sources. Data: Penn World Table 11.0, Groningen Growth and Development Centre (DOI 10.34894/FABVLR), variables csh_i (investment share) and rgdpo (real GDP); cite as Feenstra, Inklaar and Timmer (2015), “The Next Generation of the Penn World Table”, American Economic Review 105(10). Capital is our own perpetual-inventory estimate from PWT investment, with 5 percent depreciation. The straight line is the Solow model’s prediction, \(K/Y = s/d\). Prepared file: data/ch05/fig5-3.csv (see the data notes). Chart: inspired by Fig. 5.3 in Jones (2024), Macroeconomics, 6th ed.

Transition dynamics in the data

Fig. 8: Growth rates in the OECD

Press the play button or move the slider to change the starting year; click “Joined the OECD later” in the legend to add the newer members.

Sources. Data: Penn World Table 11.0, Groningen Growth and Development Centre (DOI 10.34894/FABVLR), variables rgdpo (real GDP) and pop (population); GDP per person is rgdpo / pop, in 2021 dollars; cite as Feenstra, Inklaar and Timmer (2015), “The Next Generation of the Penn World Table”, American Economic Review 105(10). OECD membership and accession years: OECD, Members and partners. Prepared files: data/ch05/pwt_panel.csv, data/ch05/oecd_members.csv (see the data notes). Chart: inspired by Fig. 5.8 in Jones (2024), Macroeconomics, 6th ed.

Fig. 9: Growth rates around the world

Press the play button or move the slider to change the starting year; click a group in the legend to hide or show it, and hover to name a country.

Sources. Data: Penn World Table 11.0, Groningen Growth and Development Centre (DOI 10.34894/FABVLR), variables rgdpo (real GDP) and pop (population); GDP per person is rgdpo / pop, in 2021 dollars; cite as Feenstra, Inklaar and Timmer (2015), “The Next Generation of the Penn World Table”, American Economic Review 105(10). Prepared file: data/ch05/pwt_panel.csv (see the data notes). Chart: inspired by Fig. 5.9 in Jones (2024), Macroeconomics, 6th ed.

Fig. 10: Investment in South Korea, the Philippines and the world

Pick a region from the menu, then click a country in the legend to add it; hover to read each year’s investment rate.

Sources. Data: Penn World Table 11.0, Groningen Growth and Development Centre (DOI 10.34894/FABVLR), variable csh_i (investment as a share of GDP); cite as Feenstra, Inklaar and Timmer (2015), “The Next Generation of the Penn World Table”, American Economic Review 105(10). Regions for the website menu: World Bank country and lending groups. Prepared files: data/ch05/pwt_panel.csv, data/ch05/regions.csv (see the data notes). Chart: inspired by Fig. 5.10 in Jones (2024), Macroeconomics, 6th ed.