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NON-MARKET ECONOMY COUNTRIES 1997 INCOME DATA Revised May 1999 |
| EXPECTED 1997 WAGES OF SELECTED NME COUNTRIES (IN US DOLLARS) |
1997 GDP Expected 1997
Country Per Capita Wages Per Hour
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| REPORTED WAGES BY COUNTRY |
Wage Measuring Measuring Reporting
Country Rate Currency Unit Year
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| CALCULATION OF 1997 GDP PER CAPITA IN US DOLLARS |
1997 GDP in 1997 1997 GDP
Country millions of Population Per Capita
US dollars in thousands in US dollars
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| CALCULATION OF 1997 WAGES PER HOUR IN US DOLLARS |
Inflator 1997 Inflated 1997 Wages
Country Wage Measuring Measuring Reporting to Exchange Hourly Hourly Per Hour in
Rate Currency Unit Year Hours 1997 Rate Wages Wages US dollars
Argentina 4.03 pesos hour 1997 1 1.0000 0.9995 4.03 4.03 4.03
Australia 16.34 dollar hour 1996 1 0.9974 1.3439 16.34 16.30 12.13
Austria 32173.00 schilling month 1995 192 1.0100 12.204 167.57 169.24 13.87
Bahrain 200 dinar month 1997 192 1.0000 0.3760 1.04 1.04 2.77
Bangladesh 59.87 taka day 1992 8 1.2066 43.892 7.48 9.03 0.21
Botswana 633 pula month 1997 192 1.0000 3.6508 3.30 3.30 0.90
Canada 16.8 dollar hour 1997 1 1.0000 1.3846 16.80 16.80 12.13
Chile 189753 peso month 1997 192 1.0000 419.3 988.30 988.30 2.36
Colombia 326421 peso month 1995 192 1.5105 1140.96 1700.11 2568.05 2.25
Costa Rica 75672 colone month 1997 192 1.0000 232.6 394.13 394.13 1.69
Croatia 2196 kuna month 1997 192 1.0000 6.101 11.44 11.44 1.87
Denmark 158.69 kroner hour 1996 1 1.0211 6.604 158.69 162.05 24.54
Dominican Republ 21.6 peso hour 1997 1 1.0000 14.265 21.60 21.60 1.51
Ecuador 3226.7 sucre hour 1996 1 1.3051 3998.3 3226.70 4211.08 1.05
Egypt 84 pound week 1995 44 1.1215 3.388 1.91 2.14 0.63
El Salvador 7.5 colone hour 1996 1 1.0452 8.755 7.50 7.84 0.90
Fiji 98.04 dollar week 1996 44 1.0337 1.4437 2.23 2.30 1.60
Finland 11004 markaa month 1995 192 1.0189 5.1914 57.31 58.39 11.25
France 50.63 franc hour 1993 1 1.0313 5.8367 50.63 52.22 8.95
Germany 18.6 mark hour 1997 1 1.0000 1.7341 18.60 18.60 10.73
Greece 1470.5 drachma hour 1997 1 1.0000 273.06 1470.50 1470.50 5.39
Guatemala 1430.04 quetzale month 1997 192 1.0000 6.0653 7.45 7.45 1.23
India 1211 rupee month 1995 192 1.0894 36.313 6.31 6.87 0.19
Ireland 6.87 pound hour 1997 1 1.0000 0.6588 6.87 6.87 10.43
Israel 35 new shekel hour 1997 1 1.0000 3.4494 35.00 35.00 10.15
Jamaica 894.98 dollar week 1992 44 1.2640 35.404 20.34 25.71 0.73
Japan 287200 yen month 1997 192 1.0000 120.99 1495.83 1495.83 12.36
Jordan 5.27 dinar day 1995 8 1.0305 0.7090 0.66 0.68 0.96
Kenya 5510.8 shilling month 1997 192 1.0000 58.732 28.70 28.70 0.49
Korea (Rep. of) 1326200 won month 1997 192 1.0000 951.29 6907.29 6907.29 7.26
Luxemborg 484 franc hour 1996 1 1.0137 35.774 484.00 490.65 13.72
Malaysia 1002 ringgit month 1995 192 1.0631 2.8133 5.22 5.55 1.97
Malta 58.1 pound week 1995 44 1.0587 0.3857 1.32 1.40 3.62
Mauritius 148.74 rupee day 1997 8 1.0000 20.561 18.59 18.59 0.90
Mexico 1554.2 nuevos peso month 1997 192 1.0000 7.9141 8.09 8.09 1.02
Netherlands 28.85 guilder hour 1995 1 1.0428 1.9513 28.85 30.09 15.42
New Zealand 15.78 dollar hour 1997 1 1.0000 1.5083 15.78 15.78 10.46
Norway 106.09 kroner hour 1997 1 1.0000 7.0734 106.09 106.09 15.00
Pakistan 1956 rupee month 1994 192 1.3807 41.112 10.19 14.07 0.34
Panama 628 balboas month 1994 192 1.0353 1 3.27 3.39 3.39
Paraguay 480081 guaranies month 1994 192 1.3320 2191 2500.42 3330.63 1.52
Philippines 6654 peso month 1995 192 1.1390 29.471 34.66 39.47 1.34
Poland 859.4 new zloty month 1996 192 1.1592 3.2793 4.48 5.19 1.58
Portugal 539 escudos hour 1997 1 1.0000 175.31 539.00 539.00 3.07
Seychelles 2513 rupee month 1995 192 0.9945 5.0263 13.09 13.02 2.59
Singapore 2486.7 dollar month 1997 192 1.0000 1.4848 12.95 12.95 8.72
Slovenia 118960 tolar month 1997 192 1.0000 159.69 619.58 619.58 3.88
South Africa 2446 rand month 1993 192 1.3799 4.6080 12.74 17.58 3.81
Spain 1372 peseta hour 1997 1 1.0000 146.41 1372.00 1372.00 9.37
Sri Lanka 18.15 rupee hour 1997 1 1.0000 58.995 18.15 18.15 0.31
Sweden 115.01 kronor hour 1995 1 1.0081 7.6349 115.01 115.95 15.19
Switzerland 5565 franc month 1996 192 1.0051 1.4513 28.98 29.13 20.07
Thailand 5935 baht month 1997 192 1.0000 31.364 30.91 30.91 0.99
Tonga 51.3 paanga week 1992 44 1.0879 1.2635 1.17 1.27 1.00
Trinidad and Tob 904.09 dollar week 1995 44 1.0343 6.2503 20.55 21.25 3.40
Turkey 757277 lira day 1996 8 1.8573 151865 94659.63 175812.93 1.16
United Kingdom 8.53 pound hour 1997 1 1.0000 0.6106 8.53 8.53 13.97
United States 13.17 dollar hour 1997 1 1.0000 1 13.17 13.17 13.17
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| WAGES AND GDP IN US DOLLARS (IN GDP ORDER) |
1997 Wages 1997 GDP
Country Per Hour Per Capita
Bangladesh 0.21 335
Kenya 0.49 365
India 0.19 374
Pakistan 0.34 449
Sri Lanka 0.31 816
Philippines 1.34 1,119
Egypt 0.63 1,253
Ecuador 1.05 1,520
Jordan 0.96 1,583
Guatemala 1.23 1,584
Jamaica 0.73 1,609
Dominican Republic 1.51 1,855
El Salvador 0.90 1,890
Tonga 1.00 1,908
Paraguay 1.52 2,002
Colombia 2.25 2,516
Thailand 0.99 2,542
Fiji 1.60 2,578
Costa Rica 1.69 2,714
Turkey 1.16 2,980
Panama 3.39 3,034
Botswana 0.90 3,358
South Africa 3.81 3,371
Poland 1.58 3,510
Mauritius 0.90 3,841
Croatia 1.87 4,246
Mexico 1.02 4,250
Trinidad and Tobago 3.40 4,510
Malaysia 1.97 4,688
Chile 2.36 5,275
Seychelles 2.59 6,910
Malta 3.62 8,838
Argentina 4.03 9,111
Slovenia 3.88 9,142
Korea (Rep. of) 7.26 9,620
Bahrain 2.77 9,850
Portugal 3.07 10,275
Greece 5.39 11,700
Spain 9.37 13,541
Israel 10.15 16,812
New Zealand 10.46 17,651
Ireland 10.43 17,821
Canada 12.13 20,145
Australia 12.13 21,323
United Kingdom 13.97 21,864
Netherlands 15.42 23,117
Finland 11.25 23,320
France 8.95 23,758
Austria 13.87 25,548
Germany 10.73 25,552
Sweden 15.19 25,741
United States 13.17 29,278
Singapore 8.72 31,161
Denmark 24.54 32,153
Japan 12.36 33,234
Norway 15.00 34,840
Switzerland 20.07 35,894
Luxemborg 13.72 40,211
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Regression Output:
Constant 0.371522
Std Err of Y Est 2.24661
R Squared 0.858094
No. of Observations 58
Degrees of Freedom 56
X Coefficient(s) 0.000475
Std Err of Coef. 0.000026
Equation: Wages = GDP * 0.0004754 + 0.3715219
| NOTES |
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General: Countries selected were countries for which wage data for 1992 or later was reported in 1998 Yearbook of Labour Statistics, International Labour Office ("ILO"), (Geneva: 1998), and for which GDP data was reported in World Development Indicators, World Bank, 1999, and for which we were able to locate exchange rate information. Wages: Wage rates as reported in 1998 Yearbook of Labour Statistics, International Labour Office ("ILO"), (Geneva: 1998), Chapter 5: Wages in Manufacturing. The years of the reported wage rates range from 1992 to 1997. Wages reported by ILO in most cases are based on cash payments received from employers. In addition to remuneration for normal working hours, this includes such items as remuneration for overtime, bonuses, holiday pay, incentive pay, pay for piecework, and cost-of-living allowances. See 1998 Yearbook of Labour Statistics for further discussion of wage data. Where monthly or daily wages were given, hourly wages were calculated assuming 24 working days per month, 5.5 working days per week, 8 working hours per day. Inflator: Wages were inflated, where the base year was not 1997, using the CPI data reported in International Financial Statistics, International Monetary Fund, May 1998. Inflator rate was calculated by dividing Consumer Price Index for 1997 by the Consumer Price Index for the year the wage rate was reported. Exchange rates: Exchange rate is expressed as foreign currency per one U.S. dollar. Rates as reported in International Financial Statistics, International Monetary Fund, May 1998. Rates are market average for the entire year. National Income: To calculate the per capita GDP, we divided 1997 GDP by 1997 population (mid-year), as reported in Selected World Development Indicators 1999, World Bank, 1999. See Selected World Development Indicators 1999 for further information. Analysis: Regression analysis is ordinary least squares analysis. |