Table A1. Descriptive statistics of the...

Table A1.

Descriptive statistics of the variables

Angola	RGDPPC	GFCF	EXR	LFP	CEPU	IMPORT	TRADE
Mean	2720.216	25.07447	167.2210	94.84560	771.3865	1276.598	1759.121
SD	448.6545	9.204295	170.3380	0.911119	715.6909	868.9983	1206.696
Skewness	−0.372620	−1.427000	1.676796	−0.150979	1.283595	0.256462	0.293175
Kurtosis	1.800182	5.612680	4.529939	1.264085	3.301035	1.981874	2.164478
Jarque–Bera	7.647297	57.39040	52.08464	11.90089	25.61085	4.982074	3.993964
Probability	0.021848	0.000000	0.000000	0.002605	0.000003	0.082824	0.135744
Observations	92	92	92	92	92	92	92
Ghana
Mean	1,499.717	20.90397	2.614564	91.03961	771.3865	116.0969	1,344.283
SD	354.4572	4.943314	2.107984	1.928878	715.6909	201.1771	2,080.326
Skewness	0.062627	0.104025	1.028829	0.503966	1.283595	2.397410	2.570716
Kurtosis	1.479772	1.760055	3.103587	1.918074	3.301035	7.720048	8.496203
Jarque–Bera	8.919328	6.059533	16.27131	8.381543	25.61085	173.5317	217.1299
Probability	0.011566	0.048327	0.000293	0.015135	0.000003	0.000000	0.000000
Observations	92	92	92	92	92	92	92
Kenya
Mean	1,398.008	19.69106	87.69809	93.64339	771.3865	65.21805	695.8809
SD	182.6138	2.171294	14.10917	0.946020	715.6909	195.8112	572.4561
Skewness	0.384102	0.176373	0.476801	0.396626	1.283595	2.960963	0.277538
Kurtosis	1.904257	3.121040	2.032275	2.272515	3.301035	9.847157	1.501625
Jarque–Bera	6.864694	0.533141	7.075757	4.440851	25.61085	314.1523	9.787410
Probability	0.032311	0.766002	0.029075	0.108563	0.000003	0.000000	0.007494
Observations	92	92	92	92	92	92	92
Nigeria
Mean	2,239.225	22.35168	198.9996	86.10463	771.3865	84.52051	1876.384
SD	365.0731	6.701762	98.64922	4.031345	715.6909	79.44422	1,506.132
Skewness	−0.770448	0.290265	1.062442	−0.751269	1.283595	1.209806	0.467610
Kurtosis	2.355543	1.765695	2.699514	1.855721	3.301035	4.141355	1.991994
Jarque–Bera	10.69380	7.132011	17.65412	13.67348	25.61085	27.43597	7.247729
Probability	0.004763	0.028269	0.000147	0.001074	0.000003	0.000001	0.026679
Observations	92	92	92	92	92	92	92
South africa
Mean	5,806.950	16.94944	10.27799	77.18815	771.3865	1,294.975	1,903.975
SD	495.6505	2.104044	3.385848	2.295000	715.6909	1,304.242	1,581.400
Skewness	−1.019577	−0.213244	0.512334	−0.997740	1.283595	1.006467	0.895488
Kurtosis	2.581320	2.587255	1.766079	2.976817	3.301035	3.203158	3.358464
Jarque–Bera	16.61152	1.350292	9.861268	15.26616	25.61085	15.69051	12.78834
Probability	0.000247	0.509082	0.007222	0.000484	0.000003	0.000392	0.001671
Observations	92	92	92	92	92	92	92
Tanzania
Mean	822.1686	31.85687	1,589.001	93.52841	771.3865	79.93758	550.2679
SD	164.4478	7.262474	520.9094	2.434223	715.6909	191.9219	464.4810
Skewness	−0.089222	−0.812130	0.194831	0.008302	1.283595	2.925947	0.353963
Kurtosis	1.683008	2.450682	1.563606	1.437468	3.301035	9.727118	1.671013
Jarque–Bera	6.770856	11.26988	8.491081	9.360170	25.61085	304.7454	8.691567
Probability	0.033863	0.003571	0.014328	0.009278	0.000003	0.000000	0.012961
Observations	92	92	92	92	92	92	92

Angola	RGDPPC	GFCF	EXR	LFP	CEPU	IMPORT	TRADE
Mean	2720.216	25.07447	167.2210	94.84560	771.3865	1276.598	1759.121
SD	448.6545	9.204295	170.3380	0.911119	715.6909	868.9983	1206.696
Skewness	−0.372620	−1.427000	1.676796	−0.150979	1.283595	0.256462	0.293175
Kurtosis	1.800182	5.612680	4.529939	1.264085	3.301035	1.981874	2.164478
Jarque–Bera	7.647297	57.39040	52.08464	11.90089	25.61085	4.982074	3.993964
Probability	0.021848	0.000000	0.000000	0.002605	0.000003	0.082824	0.135744
Observations	92	92	92	92	92	92	92
Ghana
Mean	1,499.717	20.90397	2.614564	91.03961	771.3865	116.0969	1,344.283
SD	354.4572	4.943314	2.107984	1.928878	715.6909	201.1771	2,080.326
Skewness	0.062627	0.104025	1.028829	0.503966	1.283595	2.397410	2.570716
Kurtosis	1.479772	1.760055	3.103587	1.918074	3.301035	7.720048	8.496203
Jarque–Bera	8.919328	6.059533	16.27131	8.381543	25.61085	173.5317	217.1299
Probability	0.011566	0.048327	0.000293	0.015135	0.000003	0.000000	0.000000
Observations	92	92	92	92	92	92	92
Kenya
Mean	1,398.008	19.69106	87.69809	93.64339	771.3865	65.21805	695.8809
SD	182.6138	2.171294	14.10917	0.946020	715.6909	195.8112	572.4561
Skewness	0.384102	0.176373	0.476801	0.396626	1.283595	2.960963	0.277538
Kurtosis	1.904257	3.121040	2.032275	2.272515	3.301035	9.847157	1.501625
Jarque–Bera	6.864694	0.533141	7.075757	4.440851	25.61085	314.1523	9.787410
Probability	0.032311	0.766002	0.029075	0.108563	0.000003	0.000000	0.007494
Observations	92	92	92	92	92	92	92
Nigeria
Mean	2,239.225	22.35168	198.9996	86.10463	771.3865	84.52051	1876.384
SD	365.0731	6.701762	98.64922	4.031345	715.6909	79.44422	1,506.132
Skewness	−0.770448	0.290265	1.062442	−0.751269	1.283595	1.209806	0.467610
Kurtosis	2.355543	1.765695	2.699514	1.855721	3.301035	4.141355	1.991994
Jarque–Bera	10.69380	7.132011	17.65412	13.67348	25.61085	27.43597	7.247729
Probability	0.004763	0.028269	0.000147	0.001074	0.000003	0.000001	0.026679
Observations	92	92	92	92	92	92	92
South africa
Mean	5,806.950	16.94944	10.27799	77.18815	771.3865	1,294.975	1,903.975
SD	495.6505	2.104044	3.385848	2.295000	715.6909	1,304.242	1,581.400
Skewness	−1.019577	−0.213244	0.512334	−0.997740	1.283595	1.006467	0.895488
Kurtosis	2.581320	2.587255	1.766079	2.976817	3.301035	3.203158	3.358464
Jarque–Bera	16.61152	1.350292	9.861268	15.26616	25.61085	15.69051	12.78834
Probability	0.000247	0.509082	0.007222	0.000484	0.000003	0.000392	0.001671
Observations	92	92	92	92	92	92	92
Tanzania
Mean	822.1686	31.85687	1,589.001	93.52841	771.3865	79.93758	550.2679
SD	164.4478	7.262474	520.9094	2.434223	715.6909	191.9219	464.4810
Skewness	−0.089222	−0.812130	0.194831	0.008302	1.283595	2.925947	0.353963
Kurtosis	1.683008	2.450682	1.563606	1.437468	3.301035	9.727118	1.671013
Jarque–Bera	6.770856	11.26988	8.491081	9.360170	25.61085	304.7454	8.691567
Probability	0.033863	0.003571	0.014328	0.009278	0.000003	0.000000	0.012961
Observations	92	92	92	92	92	92	92

Source(s): Authors’ own work

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