Should we care about the uncertainty around measures of political-economic development?

Values of some proxies of political-economic development come with standard errors. * Existing empirical work discards the information provided by the standard errors. * Multiple imputation can be used to take into account this additional information. * Adopting this approach can have a large influence on empirical results. Several proxies of political-economic development, such as the Worldwide Governance Indicators, come in the form of an estimate along with a standard error reflecting the uncertainty of this estimate. Existing empirical work discards the information provided by the standard... Mehr ...