Wednesday, March 18, 2009

Bad Data from Bad Countries

I’ve commented a few times in class on the lack of believability of economic statistics put out by, say, China, because there isn’t any sort of ombudsman (another word to look up) who might humiliate them into being more honest.

Andrew Gelman posted some evidence of this for Russia:

To sum up, the official figures are somewhere between 1/15 and 1/3 of those for the U.S. That’s a lot of uncertainty.

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