Table 1

Variable description

VariablesDefinitionSources
CorruptionThe corruption index, of which a value of 0 represents non-corruption and 100 means a completely corruptionWorld Bank
SEThe share of the SE to GDPMedina and Schneider (2018) 
Trade OpennessThe ratio of (total exports + total imports) to GDPWorld Bank
Population DensityNatural logarithm of total population per square kilometerWorld Bank
TelecommunicationNatural logarithm of total telephone lines (fixed and mobile) per 100 people in the host countryWorld Bank
Domestic InvestmentRatio of gross capital formation to GDPWorld Bank
Land SizeThe natural logarithm of a country's total land areaWorld Bank

Source(s): Authors' own work

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