Table 1

Latent dependent and independent variables and their manifest variables

Latent variablesManifest variablesData sourceYear
Government competence (GOV)Political stability and absence of violenceWorld Governance Indicators2018
Regulatory qualityWorld Governance Indicators2018
Rule of lawWorld Governance Indicators2018
Government effectivenessWorld Governance Indicators2018
Healthy industry (IND)Medium and high tech industryWorld Bank2017
Small businessOECD data2017*
Industry, value addedWorld Bank2017
Big companiesOECD data2017*
Quality of academia (UNI)Citable documents H indexGlobal Innovation Index2018
Number of researchersGlobal Innovation Index2018
Research and development expenditureWorld Bank2017
Quality of startup ecosystem (STAR)Number of startupsCrunchbase2018
Number of acceleratorsCrunchbase2018
Number of incubatorsCrunchbase2018
Unicorns (value added)CB Insights2018

Note(s): *Some of the data in some countries correspond to previous years (between 2014 and 2016) due to availability

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