Table 2

Variable descriptions, measurements and data sources

VariableDescriptionSource
Dependent Variable
LNVlog of Notional Value of Commodity Derivative ContractWFE
Independent Variable
ATAverage surface temperatureOur World in Data
LGDPlog of real GDPIMF
CPIConsumer Price Index of all itemsIMF
ERExchange Rate, Domestic currency per USDIMF
LEXPlog of Export of goods and servicesIMF
LIMPlog of Import goods and servicesIMF
LGFCFlog of Gross Fixed Capital FormationIMF
Source(s): Authors’ own compilation

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