Summary of descriptive statistics
| Variable | Obs | Mean | Std. dev | Min. | Max. |
|---|---|---|---|---|---|
| EG (index) | 225 | 43.238 | 10.640 | 22.287 | 83.455 |
| TG (index) | 225 | 40.747 | 12.755 | 14.396 | 82.066 |
| FG (index) | 225 | 45.796 | 11.351 | 25.389 | 84.843 |
| TR (% of GDP) | 225 | 67.921 | 32.504 | 1.387 | 229.638 |
| FDI (% of GDP) | 225 | 4.028 | 7.481 | −2.816 | 70.308 |
| FDIND (index) | 225 | 0.142 | 0.111 | 0.003 | 0.640 |
| FIIND (index) | 225 | 0.215 | 0.129 | 0.004 | 0.722 |
| FMIND (index) | 225 | 0.064 | 0.111 | 0.000 | 0.535 |
| Y (GDP per capita/CPI) | 225 | 61.998 | 486.485 | 1.128 | 7251.211 |
| K (% of GDP) | 225 | 22.088 | 8.360 | 3.554 | 49.627 |
| INF (CPI) | 225 | 95.866 | 61.666 | 0.251 | 708.266 |
| EXR (LCU per US$) | 225 | 528.131 | 1015.345 | 0.217 | 8526.922 |
| GE (% of GDP) | 225 | 14.464 | 6.951 | 1.146 | 42.938 |
| INFRA (index from PCA) | 225 | −0.014 | 0.916 | −1.643 | 1.513 |
| QII (index) | 225 | −0.007 | 1.183 | −2.359 | 2.200 |
| Variable | Obs | Mean | Std. dev | Min. | Max. |
|---|---|---|---|---|---|
| EG (index) | 225 | 43.238 | 10.640 | 22.287 | 83.455 |
| TG (index) | 225 | 40.747 | 12.755 | 14.396 | 82.066 |
| FG (index) | 225 | 45.796 | 11.351 | 25.389 | 84.843 |
| TR (% of GDP) | 225 | 67.921 | 32.504 | 1.387 | 229.638 |
| FDI (% of GDP) | 225 | 4.028 | 7.481 | −2.816 | 70.308 |
| FDIND (index) | 225 | 0.142 | 0.111 | 0.003 | 0.640 |
| FIIND (index) | 225 | 0.215 | 0.129 | 0.004 | 0.722 |
| FMIND (index) | 225 | 0.064 | 0.111 | 0.000 | 0.535 |
| Y (GDP per capita/CPI) | 225 | 61.998 | 486.485 | 1.128 | 7251.211 |
| K (% of GDP) | 225 | 22.088 | 8.360 | 3.554 | 49.627 |
| INF (CPI) | 225 | 95.866 | 61.666 | 0.251 | 708.266 |
| EXR (LCU per US$) | 225 | 528.131 | 1015.345 | 0.217 | 8526.922 |
| GE (% of GDP) | 225 | 14.464 | 6.951 | 1.146 | 42.938 |
| INFRA (index from PCA) | 225 | −0.014 | 0.916 | −1.643 | 1.513 |
| QII (index) | 225 | −0.007 | 1.183 | −2.359 | 2.200 |
Source(s): Authors’ estimations
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