Table 1

Variable measurement

Operational definitionMeasurementSources
Dependent variable
Just transitionJust transition is measured using a score that ranges from 0 to 100. A high just transition score indicates that a nation is attaining higher social progress and biodiversity protection with lower carbon emissions and material footprintSocial Progress Imperative
Independent variable
Climate policy stringencyA stringency score is computed by averaging across all 56 policiesCAPMF
Moderating variable
Governance qualityIndex of the six world governance indicatorsWGI
Control variables
Economic growthGDP per capital measured as gross domestic product/midyear populationWDI
Human capital developmentHuman Development IndexUNDP
Climate vulnerabilityClimate Vulnerability IndexND-GAIN
Financial market developmentDomestic credit to private sector (% of GDP)WDI
Fossil fuel energy shareFossil fuel energy consumption (% of total energy consumption)WDI
Source(s): Authors’ compilation

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