verbose
argumentSet the verbose
argument in convertGDP
to
TRUE
to print out the underlying conversion steps and
factors.
library(GDPuc)
my_gdp <- tibble::tibble(
iso3c = "USA",
year = 2010:2014,
value = 100:104
)
convertGDP(
gdp = my_gdp,
unit_in = "constant 2005 LCU",
unit_out = "constant 2017 Int$PPP",
verbose = TRUE
)
#> ℹ Converting GDP with conversion factors from wb_wdi:
#> constant 2005 LCU → constant 2017 LCU
#> 2017 value of base 2005 GDP deflator in (constant 2017 LCU per constant 2005
#> LCU) used:
#> USA: 1.23136
#> constant 2017 LCU → constant 2017 Int$PPP
#> 2017 PPP conversion factor in (LCU per international $) used:
#> USA: 1
#> # A tibble: 5 × 3
#> iso3c year value
#> <chr> <int> <dbl>
#> 1 USA 2010 123.
#> 2 USA 2011 124.
#> 3 USA 2012 126.
#> 4 USA 2013 127.
#> 5 USA 2014 128.
The verbosity can also be controlled via the option
GDPuc.verbose
.
options(GDPuc.verbose = TRUE)
convertGDP(
gdp = my_gdp,
unit_in = "constant 2005 LCU",
unit_out = "constant 2017 Int$PPP"
)
#> ℹ Converting GDP with conversion factors from wb_wdi:
#> constant 2005 LCU → constant 2017 LCU
#> 2017 value of base 2005 GDP deflator in (constant 2017 LCU per constant 2005
#> LCU) used:
#> USA: 1.23136
#> constant 2017 LCU → constant 2017 Int$PPP
#> 2017 PPP conversion factor in (LCU per international $) used:
#> USA: 1
#> # A tibble: 5 × 3
#> iso3c year value
#> <chr> <int> <dbl>
#> 1 USA 2010 123.
#> 2 USA 2011 124.
#> 3 USA 2012 126.
#> 4 USA 2013 127.
#> 5 USA 2014 128.
options(GDPuc.verbose = FALSE)
return_cfs
argumentSet the return_cfs
argument in convertGDP
to TRUE
to return a list of length 2, with the result and a
the conversion factors used.
convertGDP(
gdp = my_gdp,
unit_in = "constant 2005 LCU",
unit_out = "constant 2017 Int$PPP",
return_cfs = TRUE
)
#> $result
#> # A tibble: 5 × 3
#> iso3c year value
#> <chr> <int> <dbl>
#> 1 USA 2010 123.
#> 2 USA 2011 124.
#> 3 USA 2012 126.
#> 4 USA 2013 127.
#> 5 USA 2014 128.
#>
#> $cfs
#> # A tibble: 1 × 3
#> iso3c 2017 value of base 2005 GDP deflator in (consta…¹ 2017 PPP conversion …²
#> <chr> <dbl> <dbl>
#> 1 USA 1.23 1
#> # ℹ abbreviated names:
#> # ¹`2017 value of base 2005 GDP deflator in (constant 2017 LCU per constant 2005 LCU)`,
#> # ²`2017 PPP conversion factor in (LCU per international $)`
This package makes us of country-specific GDP deflators, Market
Exchange Rates (MER), and Purchasing Power Parity (PPP) conversion
factors to convert GDP values. Setting the verbose
argument
to TRUE
should make the conversion process transparent and
allow you to analyze the individual steps taken. All conversion
functions were successfully tested on the World Bank’s World Development
Indicator (WDI) data: given any 2 WDI GDP series,
convertGDP
will reliably convert the one to the other.
That being said, converting GDP series can be complex and the use of
this package should not absolve one of thinking carefully on what
conversion is being done and how. When using the provided
wd_wdi
source, this specifically concerns conversions using
PPPs and MERs together.
That is because the PPP conversion factors provided by the World Bank
are based off of linked GDP deflators, while the MERs are not. That
means, that converting the World Bank’s current international dollar PPP
series into LCU, will result in the “GDP: linked series (current LCU)”,
while converting the current US dollar MER series into LCU, will result
in the “GDP (current LCU)” series. Therefore, when linked and non-lined
GDP deflators differ (which they do more often for developing countries,
and in general the further into the past one looks), converting from
current IntPPP to current USMER will not result in the exact same series
as given in the WDI data.