Table 1 Source and computation of data
Variable | Definition | Calculation/computation | Source |
|---|---|---|---|
y/GDPPC | Gross domestic product per capita | GDP divided by population | WBI |
k/GCF | Total capital stock is measured by gross capital formation | Consists of expenses related to additions to the fixed assets of the economy, plus net changes in the level of inventories | WBI |
M2 | Money supply | Consists of the sum of non-banked currencies, demand deposits, savings deposits, money market securities and other term deposits | CBN Bulletin |
INTR | Interest rate | CBN Bulletin | |
GEXP | Total government expenditure | The sum of recurrent expenditure and capital expenditure | CBN Bulletin |
GREV | Government revenue | The sum of oil and non-oil revenues | CBN Bulletin |
TRO | Trade openness | Trade is the sum of exports and importations of goods and services as a percentage of gross domestic product | WBI |