Definition and source of variables
| Variables | Definition | Sources |
|---|---|---|
| RESREVVOL | This is the measure of the volatility of resource revenue (also referred to as the instability of resource revenue). It has been calculated as the standard deviation of annual growth rate of resource revenue (% GDP) over non-overlapping sub-periods of 5-year data | Author's calculation based on data from the ICTD: ICTD Public Revenue Dataset. See online: https://www.wider.unu.edu/project/government-revenue-dataset |
| NONRESREVVOL | This is the measure of the volatility of non-resource revenue (also referred to as the instability of non-resource revenue). It has been calculated as the standard deviation of annual growth rate of non-resource revenue (% GDP) over non-overlapping sub-periods of 5-year data | Author's calculation based on data from the ICTD: ICTD Public Revenue Dataset |
| SHRESREV | This is the share (%) of resource revenue in total public revenue | Author's calculation based on data from the ICTD: ICTD Public Revenue Dataset |
| TERMVOL | This is the measure of terms of trade instability. Terms of trade represent the ratio of the export price index to import price index. Terms of trade volatility have been calculated as the standard deviation of annual terms of trade growth over 5-year non-overlapping sub-periods | Authors' calculation based on terms of trade data from the World Development Indicators (WDI) of the World Bank |
| INFLVOL | Inflation volatility, calculated as the standard deviation of inflation rate over 5-year non-overlapping sub-periods | Authors' calculation based on inflation data extracted from the WDI |
| GRVOL | This is the measure of the volatility of economic growth rate. It has been calculated as the standard deviation of annual economic growth rate (growth rate of real GDP) over non-overlapping sub-periods of 5-years | Authors' calculation based on economic growth rate data extracted from the WDI |
| OPEN | This is the measure of trade openness (de facto trade openness). It is calculated as the sum of exports and imports, in % GDP | WDI |
| GDPC | GDP per capita (constant 2010 US$) | WDI |
| Variables | Definition | Sources |
|---|---|---|
| RESREVVOL | This is the measure of the volatility of resource revenue (also referred to as the instability of resource revenue). It has been calculated as the standard deviation of annual growth rate of resource revenue (% GDP) over non-overlapping sub-periods of 5-year data | Author's calculation based on data from the ICTD: ICTD Public Revenue Dataset. See online: |
| NONRESREVVOL | This is the measure of the volatility of non-resource revenue (also referred to as the instability of non-resource revenue). It has been calculated as the standard deviation of annual growth rate of non-resource revenue (% GDP) over non-overlapping sub-periods of 5-year data | Author's calculation based on data from the ICTD: ICTD Public Revenue Dataset |
| SHRESREV | This is the share (%) of resource revenue in total public revenue | Author's calculation based on data from the ICTD: ICTD Public Revenue Dataset |
| TERMVOL | This is the measure of terms of trade instability. Terms of trade represent the ratio of the export price index to import price index. Terms of trade volatility have been calculated as the standard deviation of annual terms of trade growth over 5-year non-overlapping sub-periods | Authors' calculation based on terms of trade data from the World Development Indicators (WDI) of the World Bank |
| INFLVOL | Inflation volatility, calculated as the standard deviation of inflation rate over 5-year non-overlapping sub-periods | Authors' calculation based on inflation data extracted from the WDI |
| GRVOL | This is the measure of the volatility of economic growth rate. It has been calculated as the standard deviation of annual economic growth rate (growth rate of real GDP) over non-overlapping sub-periods of 5-years | Authors' calculation based on economic growth rate data extracted from the WDI |
| OPEN | This is the measure of trade openness (de facto trade openness). It is calculated as the sum of exports and imports, in % GDP | WDI |
| GDPC | GDP per capita (constant 2010 US$) | WDI |
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