Bad statisticians make a lot of measurement mistakes. Average growth over 1960-2008 might have zero mistake ON AVERAGE, but\u00a0there will randomly be some countries with a string of exaggerated growth rates. Other countries will randomly have a string of underestimated growth rates. So the variance of growth will be higher the worse the data quality\u00a0\u2013 which is exactly what we see in the picture.<\/p>\n
Of course, I am not saying China or Singapore or Taiwan have high growth (and Liberia has horrible growth) ONLY because of measurement error. Other indicators confirm the East Asian booms \u2014 but are we really sure growth was 6 percent per capita per year, instead of 4 percent pread moreer capita per year?<\/p>\n
To read more from\u00a0http:\/\/aidwatchers.com<\/a> click\u00a0here<\/a><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Bad statisticians make a lot of measurement mistakes. Average growth over 1960-2008 might have zero mistake ON AVERAGE, but\u00a0there will randomly be some countries with a string of exaggerated growth rates. Other countries will randomly have a string of underestimated …<\/p>\n