GDP per capita
Equation
The income level is estimated based on the GDP per capita PPP of the country compared to the maximum value observed among all countries for the same year:
$ i_i = 100 \displaystyle\frac{ GDP_{cap} }{ GDP_{cap,max} }$ |
The variable is obtained from the Worldbank database under the code NY.GDP.PCAP.PP.CD:
https://databank.worldbank.org/reports.aspx?source=2&series=NY.GDP.PCAP.PP.CD&country=
ID:(312, 0)