Description of variables
| Variable | Description | Source |
|---|---|---|
| LnCPI | LnCPI stands for the natural logarithm of CPI and is measured in terms of change in CPI (2010 = 100) expressed in respective local currencies | World Bank |
| HDI | HDI stands for the “human development index,” a measure of socioeconomic development, expressed as an index of GDP per capita, literacy and health | UNDP |
| LnMS | LnMS is the logarithm of broad money supply in the local currency, the “sum of currency outside banks; demand deposits; the time, savings and foreign currency deposits; bank and traveler’s checks; certificates of deposit and commercial paper,” measured as in local currencies | World Bank |
| FEXR | FEXR stands for the foreign exchange rate, measured as weighted period average rates, amount of respective local currencies to one US$ | World Bank |
| Variable | Description | Source |
|---|---|---|
| LnCPI stands for the natural logarithm of CPI and is measured in terms of change in CPI (2010 = 100) expressed in respective local currencies | World Bank | |
| HDI stands for the “human development index,” a measure of socioeconomic development, expressed as an index of GDP per capita, literacy and health | UNDP | |
| LnMS is the logarithm of broad money supply in the local currency, the “sum of currency outside banks; demand deposits; the time, savings and foreign currency deposits; bank and traveler’s checks; certificates of deposit and commercial paper,” measured as in local currencies | World Bank | |
| FEXR stands for the foreign exchange rate, measured as weighted period average rates, amount of respective local currencies to one US$ | World Bank |