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Indexing Data
Indexing allows us to set variables to the same starting point and compare their deviation from this point. This is useful when dealing with panel data.
Download the excel spreadsheet used above here:
Data for Economists Indexing.xlsx30.8KB
Data as a % of GDP
Economic statistics often refer to variables as a % of GDP. This allows us to view data in proportion to the size of the economy. For example, as we saw in the 
Budget section, a countries debt level is often measured as a % of GDP. This is because rising debt levels over the long run are manageable as long as the economy is also growing.
Budget section, a countries debt level is often measured as a % of GDP. This is because rising debt levels over the long run are manageable as long as the economy is also growing. - This means that debt levels could rise consistently, but for as long as GDP increases by the same proportion, the debt-to-GDP ratio would remain constant.
Download the excel spreadsheet used above here:
GlobalDebtDatabase.xlsx2203.6KB