The synopsis of list of working variables, their measurement and data sources
| Variable | Legend | Measurement | Source |
|---|---|---|---|
| GDP per capita | GDP PPP | Log of Per capita GDP PPP; Gross domestic product, GDP, stated in current international dollars converted by purchasing power parity, PPP, conversion factor | WDI |
| Inflation | INF | Inflation, Consumer Price Index (Annual percentage) | WDI |
| Foreign Direct Investment | FDI | Foreign Direct Investment (Net inflows percentage of GDP) | WDI |
| Domestic Credit | DCPS | Domestic Credit to Private Sector (Ratio of GDP) | WDI |
| Exchange Rate | EXCH | Official exchange rate (local currency units relative to the U.S. dollar) | WDI |
| Labor Force | LF | Labor force participation rate, total (% of total population ages 15+) | WDI |
| Institutional differences | INSDF | ||
| Political Stability | PS | Estimate value of political stability and absence of violence | WDI |
| Rule of Law | RL | Estimate value of rule of law | WDI |
| Government Effectiveness | GEF | Estimate value of government effectiveness | WDI |
| Regulatory Quality | RQ | Estimate value of regulatory quality | WDI |
| Control of Corruption | CC | Estimate value of control of corruption | WDI |
| Variable | Legend | Measurement | Source |
|---|---|---|---|
| GDP per capita | GDP PPP | Log of Per capita GDP PPP; Gross domestic product, GDP, stated in current international dollars converted by purchasing power parity, PPP, conversion factor | WDI |
| Inflation | INF | Inflation, Consumer Price Index (Annual percentage) | WDI |
| Foreign Direct Investment | FDI | Foreign Direct Investment (Net inflows percentage of GDP) | WDI |
| Domestic Credit | DCPS | Domestic Credit to Private Sector (Ratio of GDP) | WDI |
| Exchange Rate | EXCH | Official exchange rate (local currency units relative to the U.S. dollar) | WDI |
| Labor Force | LF | Labor force participation rate, total (% of total population ages 15+) | WDI |
| Institutional differences | INSDF | ||
| Political Stability | PS | Estimate value of political stability and absence of violence | WDI |
| Rule of Law | RL | Estimate value of rule of law | WDI |
| Government Effectiveness | GEF | Estimate value of government effectiveness | WDI |
| Regulatory Quality | RQ | Estimate value of regulatory quality | WDI |
| Control of Corruption | CC | Estimate value of control of corruption | WDI |
Source(s): Prepared by Author