Table AII Hypotheses and... | Emerald Publishing

Table AII

Hypotheses and operationalization

Variable	Hypothesis	Operationalization (and data sources)
Legislative constraints	The non-linear relationship between legislative constraints and foreign debt displays a U-shaped curve	A continuous scale of lowest 0 to highest 1 (data from Henisz’s (2000a, b) collection)
Legislative constraints squared		A squared term for legislative constraints (data from Henisz’s (2000a, b) collection)
Economic development	The higher the economic development, the lower the foreign debt	The log of GDP per capita (data from World Bank’s (2001) collection)
Economic growth	The higher the economic growth, the lower the foreign debt	Economic growth rate (data from World Bank’s (2001) collection)
Exports	The higher the export volume, the lower the foreign debt	The sum of exports of goods and services divided by GDP (data from World Bank’s (2001) collection)
Budget deficit	The improvement of budget deficit is likely to reduce foreign debt	The proportion of deficits in GDP (data from World Bank’s (2001) collection)
Government consumption	The higher the government consumption, the higher the foreign debt	The average general final government consumption as a percentage of GDP (data from World Bank’s (2001) collection)
IMF participation	The IMF participation is likely to reduce foreign debt	1 for the IMF participation (data from Vreeland’s (2007) collection)

Variable	Hypothesis	Operationalization (and data sources)
Legislative constraints	The non-linear relationship between legislative constraints and foreign debt displays a U-shaped curve	A continuous scale of lowest 0 to highest 1 (data from Henisz’s (2000a, b) collection)
Legislative constraints squared		A squared term for legislative constraints (data from Henisz’s (2000a, b) collection)
Economic development	The higher the economic development, the lower the foreign debt	The log of GDP per capita (data from World Bank’s (2001) collection)
Economic growth	The higher the economic growth, the lower the foreign debt	Economic growth rate (data from World Bank’s (2001) collection)
Exports	The higher the export volume, the lower the foreign debt	The sum of exports of goods and services divided by GDP (data from World Bank’s (2001) collection)
Budget deficit	The improvement of budget deficit is likely to reduce foreign debt	The proportion of deficits in GDP (data from World Bank’s (2001) collection)
Government consumption	The higher the government consumption, the higher the foreign debt	The average general final government consumption as a percentage of GDP (data from World Bank’s (2001) collection)
IMF participation	The IMF participation is likely to reduce foreign debt	1 for the IMF participation (data from Vreeland’s (2007) collection)