Variable definition
| Variable | Definition | Expected sign | Source |
|---|---|---|---|
| Rural access to electricity (RPAE) | Percentage of population with access to electricity | World Bank (WDI) | |
| Urban access to electricity (UPAE) | Percentage of population with access to electricity | World Bank (WDI) | |
| Remittances (RMIT) | Remittances as percentage of GDP | + | World Bank (WDI) |
| Gross domestic product (GDP) | Sum of all value added by all resident producers in an economy | + | World Bank (WDI) |
| Food production index (FPI) | Changes in the production of food commodity in a given year relative to base year | +/− | World Bank (WDI) |
| Information Communication and Technology (ICT) | Measured by internet users per 100 people, mobile cellular subscription rate per 100 people, and fixed broadband subscription per 100 people | + | World Bank (WDI) |
| Gross domestic savings (GDS) | GDP minus final consumption expenditure | + | World Bank (WDI) |
| Domestic credit to private sector (DCPS) | Financial resources provided to the private sector by financial corporations | + | World Bank (WDI) |
| Corruption (CORR) | The extent to which public power is exercised for private gain, including both petty and grand forms of corruption | – | World Bank (WDI) |
| Political stability (POL) | The likelihood of political instability and violence, including terrorism | + | World Bank (WDI) |
| Regulatory quality (RQ) | The ability of the government to formulate and implement sound policies and regulations that permit and promote private sector development | + | World Bank (WDI) |
| Voice and accountability (VA) | The extent to which a country’s citizens can participate in selecting their government, as well as their freedom of expression, freedom of association, and free media | + | World Bank (WDI) |
| Rule of Law (RL) | The extent to which agents have confidence in and abide by the rules of society | + | World Bank (WDI) |
| Government effectiveness (GE) | The quality of public services, the quality of the civil service, and the degree of its independence from political pressures | + | World Bank (WDI) |
| Governance index (GOV) | Institutional governance (corruption-control and the rule of law); Economic governance (government effectiveness and regulatory quality) and Political governance (political stability/no violence and voice and accountability) | + | World Bank (WDI) |
| Variable | Definition | Expected sign | Source |
|---|---|---|---|
| Rural access to electricity (RPAE) | Percentage of population with access to electricity | World Bank (WDI) | |
| Urban access to electricity (UPAE) | Percentage of population with access to electricity | World Bank (WDI) | |
| Remittances (RMIT) | Remittances as percentage of GDP | + | World Bank (WDI) |
| Gross domestic product (GDP) | Sum of all value added by all resident producers in an economy | + | World Bank (WDI) |
| Food production index (FPI) | Changes in the production of food commodity in a given year relative to base year | +/− | World Bank (WDI) |
| Information Communication and Technology (ICT) | Measured by internet users per 100 people, mobile cellular subscription rate per 100 people, and fixed broadband subscription per 100 people | + | World Bank (WDI) |
| Gross domestic savings (GDS) | GDP minus final consumption expenditure | + | World Bank (WDI) |
| Domestic credit to private sector (DCPS) | Financial resources provided to the private sector by financial corporations | + | World Bank (WDI) |
| Corruption (CORR) | The extent to which public power is exercised for private gain, including both petty and grand forms of corruption | – | World Bank (WDI) |
| Political stability (POL) | The likelihood of political instability and violence, including terrorism | + | World Bank (WDI) |
| Regulatory quality (RQ) | The ability of the government to formulate and implement sound policies and regulations that permit and promote private sector development | + | World Bank (WDI) |
| Voice and accountability (VA) | The extent to which a country’s citizens can participate in selecting their government, as well as their freedom of expression, freedom of association, and free media | + | World Bank (WDI) |
| Rule of Law (RL) | The extent to which agents have confidence in and abide by the rules of society | + | World Bank (WDI) |
| Government effectiveness (GE) | The quality of public services, the quality of the civil service, and the degree of its independence from political pressures | + | World Bank (WDI) |
| Governance index (GOV) | Institutional governance (corruption-control and the rule of law); Economic governance (government effectiveness and regulatory quality) and Political governance (political stability/no violence and voice and accountability) | + | World Bank (WDI) |
Source(s): Authors’ own work
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.