Table 2

Panel A: sampled countries mean of test variables

CountryMSCORRUPSDGSTAKEGDPPFOIFDI(000)EXPORT(000)MAN
Afghanistan57.981.3950.27120521.26−53397791,3330
Albania30.920.4372.48115,657−0.16−7491163,051,0000
Algeria32.760.6570.47113,5190.95737,67741,200,0000
Angola36.881.0651.271 74300.942,305,54035,600,0000
Argentina20.480.2773.01124,320−0.52−3828,50362,200,0000
Armenia29.900.2971.08115,5920.21−1744634,206,3330
Australia9.28−1.7975.86055,513−1.35−35,700,000273,000,0001
Austria8.97−1.4681.73161,131−1.371,240,543236,000,0000
Azerbaijan31.800.9072.00117,5351.50−52215922,400,0000
Bahrain32.120.4164.18052,0341.4091,75718,700,0000
Bangladesh33.740.1561.8106,3320.69−1565,12943,300,0000
Barbados36.33−1.3370.67015,975−1.09−231500482,5000
Belarus29.75−0.3576.20122,6551.44−83234532,400,0000
Belgium13.05−0.9379.36157,196−1.32−5796,506476,000,0000
Benin27.52−0.1252.6513,496−0.10−996673,063,0000
Bolivia28.500.6765.0719,0290.09−2111129,021,6670
Bosnia Herz30.770.1271.86116,9450.24−2976667,247,3330
Botswana26.77−0.3761.42117,543−0.43−589956,454,3330
Brazil25.03−0.1372.52116,619−0.34−45,300,000250,000,0000
Brunei55.55−0.6866.15059,0640.88−1828005,724,5000
Bulgaria23.710.1473.75127,259−0.34−51673536,000,0000
Burkina Faso32.840.5953.1812,2630.22−1804823,357,3330
Burundi43.881.3054.121 8421.53 −334169,6660
Cambodia36.661.2362.6214,5191.21−1829,93615,400,0000
Cameroon42.250.2155.5804,2351.10−4536323,836,0000
Canada11.74−1.6077.93052,682−1.4517,900,000470,000,0000
Chad44.370.6442.471 17491.44883,7582,820,0000
Chile19.31−0.7376.98127,380−0.99−3433,82076,800,0000
China33.100.2970.75117,8451.54−16,800,0002,660,000,0000
Colombia33.850.6169.67116,801−0.15−5176,41241,000,0000
Congo80.091.4149.3911,0371.45−1170,20013,600,0000
Congo Rep41.650.6952.4514,9311.18382,1108,343,6670
Costa Rica20.39−0.3173.13122,782−1.09−1521,61113,600,0000
Croatia22.24−0.0779.39133,332−0.52−108085818,700,0000
Cyprus18.27−0.7172.97044,459−0.97−2841,0254,156,6670
Czech Republic16.59−1.1780.06143,683−0.95−3318,910123,000,0000
Côte d'Ivoire36.530.2958.1715,8900.32−34211014,400,0000
Denmark6.31−1.2185.17162,048−1.562,717,89069,800,0000
Djibouti37.800.2749.5715,6931.34−1100623,418,6670
Dominican29.280.7170.63119,951−0.20−1648,79711,100,0000
Ecuador28.020.6471.24112,9140.07−71782423,200,0000
Egypt38.000.6167.53113,8821.32−5243,01931,000,0000
El Salvador31.430.9068.9219,8000.05−3915435,941,0000
Estonia19.72−0.7079.55138,851−1.19−67425216,600,0000
Ethiopia40.960.1754.6912,3801.20−2502,0883,036,3330
Finland10.17−1.9085.94153,191−1.579,741,01972,000,0000
France14.87−1.2081.03150,219−1.1234,500,000577,000,0001
Gambia37.090.2158.4402,4800.93−5229795,0000
Georgia27.30−1.0772.95117,377−0.17−7417353,862,6670
Germany12.43−1.2382.42158,384−1.4025,400,0009,670,000,0001
Ghana32.200.0762.1305,367−0.51−2126,82414,000,0000
Greece25.93−0.1176.34132,772−0.78−2656,49927,800,0000
Guatemala33.330.8559.88110,3170.39−58199511,800,0000
Guinea39.261.0452.7913,0220.86−6502505,342,6670
Guyana29.390.6663.23026,444−0.22−4390455,292,3330
Haiti40.471.2052.6013,1930.90−69979986,6660
Honduras34.59−0.1162.5316,0580.48−5987229,326,6670
Hungary18.64−0.5878.48135,267−0.43−2173,212129,000,0000
Iceland11.18−1.8978.24155,345−1.36−1363504,996,0000
India38.280.3060.310 7561−0.28−23,400,000340,000,0000
Indonesia33.120.5967.58112,583−0.15−9554,922252,000,0000
Iraq51.680.3662.32111,4010.983,878,77685,200,0000
Ireland11.73−1.3479.48094,559−1.346,074,221168,000,0000
Israel25.69−0.8372.93043,727−0.69−4282,15163,100,0000
Italy21.35−0.1178.20143,239−1.01−5866,406563,000,0000
Jamaica27.91−0.4068.96010,212−0.61−4733521,756,6670
Japan12.11−1.0079.12144,306−0.99909,000,000700,000,0000
Jordan33.98−0.0768.85110,0500.74−8378849,354,0000
Kazakhstan29.080.6971.14129,7681.16−6248,43736,800,0000
Kenya44.060.5060.6204,6990.23−3892816,313,3330
Korea, Rep21.03−0.2677.24145,550−0.7714,600,000578,000,0000
Kuwait31.650.5963.93051,1200.643,037,69667,900,0000
Kyrgyz28.880.9973.7215,6790.49−2396032,239,6670
Lao PDR33.050.4162.481 79811.72−7595786,008,0000
Latvia18.360.1279.64133,366−0.85−27793017,000,0000
Lebanon38.300.8065.05114,7490.55−1197,19410,100,0000
Lesotho34.170.3454.6802,820−0.01−40027965,3330
Liberia35.521.0350.5901,6090.05−147253642,3330
Lithuania19.64−1.0375.74139,726−0.98−17518633,700,0000
Luxembourg16.80−2.0974.681115,165−1.51−14500016,100,0000
Macedonia40.590.3270.85115,9670.13−5313505,850,5000
Madagascar36.360.8349.5411,6970.31−3151752,859,0000
Malawi37.760.4153.8001,6180.01−99802927,3330
Malaysia27.990.0268.93029,1980.27−897389234,000,0000
Mali35.970.3754.3012,4170.49−242390106,000,0000
Mauritania46.920.3755.4015,6500.79−3482332,564,0000
Mauritius14.340.1868.30124,309−0.72−3180,5252,341,6670
Mexico36.970.3669.26121,673−0.04−18,900,000276,000,0000
Moldova27.790.1374.84113,5510.06−1112082,933,3330
Mongolia25.890.4964.79113,7200.01748,2769,037,6670
Montenegro33.580.0467.36119,856−0.07−395350416,5000
Morocco29.590.2368.3718,1600.62−1446,52217,300,0000
Mozambique34.860.8352.8211,4470.50−1599,5035,538,6670
Myanmar44.780.7863.3604,8361.17−1682,57914,000,0000
Namibia29.52−0.3064.12111,170−0.53−1689475,834,0000
Nepal29.270.6665.3204,0110.14−58111832,3330
Netherlands9.36−1.9279.44162,776−1.5242,800,000744,000,0001
New Zealand7.26−2.2077.86045,521−1.58−1549,788336,000,0000
Nicaragua28.661.0865.7916,5341.04−5624995,724,6670
Niger39.100.6050.4411,3990.46−2298191,110,3330
Nigeria48.071.0553.5005,6100.44−1109,77250,600,0000
Norway8.96−2.1181.93177,736−1.7115,100,000128,000,0000
Oman31.71−0.2167.41036,9941.08−2379,51281,900,0000
Pakistan49.070.8257.8505,5320.79−1427,92924,100,0000
Panama25.050.5666.26133,101−0.53−3138,51412,800,0000
Papua43.740.8352.7604,346−0.07−7430111,500,0000
Paraguay26.790.8767.12114,2130.01−22037511,100,0000
Peru29.700.5671.31113,939−0.17−3981,48149,000,0000
Philippines38.580.5265.8519,059−0.04−3906,98665,600,0000
Poland18.85−0.6480.42136,579−0.71−6568,663180,000,0000
Portugal10.52−0.8278.49139,431−1.19−3520,55669,200,0000
Qatar25.41−0.8165.24199,1231.134,279,09479,700,0001
Romania23.440.0776.82133,617−0.54−3614,36381,300,0000
Russian36.020.8872.61116,0411.154,130,249275,000,0000
Rwanda37.93−0.5959.2115,4061.07−1935531,444,0000
Saudi Arabia36.01−0.3164.03124,4851.635,499,251159,000,0000
Senegal29.690.0259.54112,803−0.24−3486783,858,6670
Serbia24.210.3774.98127,884−0.03−1940,52221,700,0000
Sierra Leone33.140.6253.74063,9890.17−12973110,700,0000
Singapore11.31−2.1171.61067,4540.09−29,200,000258,000,0000
Slovak Republic26.26−0.2277.37136,448−0.89−98110085,200,0000
Slovenia15.36−0.8280.09120,085−0.98−68608738,600,0000
South Africa34.090.0762.4809,282−0.66241,33950,100,0000
Spain13.09−0.6479.34143,587−1.02−2711,432353,000,0000
Sri Lanka28.400.3468.57113,2820.09−73683211,400,0000
Sudan52.501.4449.6604,1221.72−7335243,784,0000
Suriname40.360.2670.50117,261−0.35−2096001,754,5000
Sweden9.15−2.1285.30158,052−1.55−60585168,000,0000
Switzerland7.18−2.0079.93177,581−1.5747,900,000345,000,0000
Tajikistan37.381.3268.2013,8971.68−1519331,230,0000
Tanzania37.320.4257.0803,0340.42−6122885,277,6670
Thailand34.790.4173.77119,5240.884,697,940251,000,0000
Togo36.250.6855.1112,4060.69184,8151,183,3330
Trinidad25.720.3164.22028,521−0.58255,1819,029,3330
Tunisia25.310.1570.74112,115−0.10−53737712,700,0000
Turkey37.110.3369.72132,8740.79−6539,887194,000,0000
Uganda37.901.0454.3402,4550.71−5611843,910,3330
Ukraine35.930.7773.78113,9290.02−2939,40239,900,0000
UK13.24−1.7881.27050,371−1.29−98,500,000473,000,0001
United States15.55−1.2674.25067,455−0.97−173,000,0001,710,000,0001
Uruguay14.64−1.3776.07126,700−1.20842,3867,911,3330
Uzbekistan30.580.9967.74179241.61−76062513,300,0000
37.2851937.281.4963.03117,4021.36−9,0092.3,200,000 
Vietnam24.960.4171.91111,0671.37−8840,017258,000,0000
Zambia34.960.5354.3703,7110.24−2831295,210,6670
Zimbabwe39.481.2457.4303,0871.14−3534182,539,3330

Note(s): All variable definitions are given in Table 1 

Source(s): Table by the authors

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