Wages reported by ILO in most cases are based on cash payments received from employers. Inflator rate was calculated by dividing the CPI for 1995 by the CPI for the year the wage rate was reported. Exchange rate is expressed as foreign currency per one U.S. dollar. Rates are as reported in International Financial Statistics , International Monetary Fund, May 1997. The 1996 Revision , United Nations, Annex I, to calculate 1995 GDP per capita.
Regression analysis is ordinary least squares analysis.
Std Err of Coef.