Table 1

Symbols, data sources and units of measurement

DataSymbolSourceUnit of measurement
Dependent variable
De jure CBI index (unweighted)ldwvauBodea and Hicks (2015) Index
De jure CBI index (weighted)lvawBodea and Hicks (2015) Index
Control variables
Broad moneybmWorld BankPercentage of GDP
Lagged inflation rateinfWorld BankPercentage
The sum of export and import of goods and servicesopenWorld BankPercentage of GDP
Real gross domestic product per capitargdppcWorld BankUS Dollar (constant value in 2010)
The use of IMF creditimfgdpWorld BankPercentage of GDP
Legal origin (the United Kingdom)legalori_ukLa Porta et al. (2008) Dummy
Legal origin (France)legalori_frLa Porta et al. (2008) Dummy
Combined polity scorepolity5Polity5 projectIndex
Government expendituregovWorld BankPercentage of GDP
Exchange rate arrangementeraIlzetzki et al. (2019, 2021) and Reinhart and Rogoff (2004) Code

Note(s): The use of IMF credit is measured as the percentage of GDP for the estimation purpose. The GDP data are available in the World Bank database and measured in the current USD

Source(s): Authors' own work

[ViewLarge]
This Feature Is Available To Subscribers Only

or Create an Account

Close Modal
Close Modal