Variable description, measurement and expected sign
| Variable | Measurement | Expected sign | Source |
|---|---|---|---|
| Trade | Total Trade (Exports + Imports)/GDP | World Bank (WDI) | |
| Environmental tax | A composite index of tax rates | −/+ | IMF (Climate data) |
| Political stability | Political Stability Index | + | World Bank (WGI) |
| Government effectiveness | Government Effectiveness Index | + | World Bank (WGI) |
| Control of corruption | Control of Corruption Index | – | World Bank (WGI) |
| Rule of law | Rule of Law Index | + | World Bank (WGI) |
| Regulatory quality | Regulatory Quality Index | + | World Bank (WGI) |
| Carbon emission (CO2) | Metric tonnes of CO2 emitted per capita or total national emissions | – | International Energy Agency (IEA) |
| Energy usage | Energy consumption as a percentage of GDP | + | International Energy Agency (IEA) |
| Foreign direct investment (FDI) | Net FDI inflows as a percentage of GDP | + | World Bank (WDI) |
| Agricultural growth | Agricultural value-added as a percentage of GDP | + | World Bank (WDI) |
| GDP growth | Annual GDP growth rate (%) | + | World Bank (WDI) |
| Variable | Measurement | Expected sign | Source |
|---|---|---|---|
| Trade | Total Trade (Exports + Imports)/GDP | World Bank (WDI) | |
| Environmental tax | A composite index of tax rates | −/+ | IMF (Climate data) |
| Political stability | Political Stability Index | + | World Bank (WGI) |
| Government effectiveness | Government Effectiveness Index | + | World Bank (WGI) |
| Control of corruption | Control of Corruption Index | – | World Bank (WGI) |
| Rule of law | Rule of Law Index | + | World Bank (WGI) |
| Regulatory quality | Regulatory Quality Index | + | World Bank (WGI) |
| Carbon emission (CO2) | Metric tonnes of CO2 emitted per capita or total national emissions | – | International Energy Agency (IEA) |
| Energy usage | Energy consumption as a percentage of GDP | + | International Energy Agency (IEA) |
| Foreign direct investment (FDI) | Net FDI inflows as a percentage of GDP | + | World Bank (WDI) |
| Agricultural growth | Agricultural value-added as a percentage of GDP | + | World Bank (WDI) |
| GDP growth | Annual GDP growth rate (%) | + | World Bank (WDI) |
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