Table 1

Variable definitions

VariablesDefinitionsSource
gdppGDP per capita (constant 2010 US$) - sustainable economic growthWDI (2019) 
agricAgriculture, forestry and fishing, value added (constant 2010 US$)""
indIndustry (including construction), value added (constant 2010 US$)""
servServices sector value added (constant 2010 US$)""
inflConsumer price index (2010 = 100) - proxy for inflation""
exrThe official exchange rate (LCU per US$, period average)""
labourPopulation ages 15–64, total""
capitalGross capital formation (constant 2010 US$)""
msBroad money (% of GDP)""
msgrBroad money growth (annual %)""
intrInterest rateIMF (2021) 

Source(s): Authors

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