Table 6 Variables description
Variables | Variables definitions |
|---|---|
Panel A A1: Education | |
Primary School Enrollment (PSE) | School enrollment, primary (% of gross) |
Secondary School Enrollment (SSE) | School enrollment, secondary (% of gross) |
Tertiary School Enrollment (TSE) | School enrollment, tertiary (% of gross) |
Education in KE (Educatex) | First PC of PSE, SSE & TSE |
A2: Information & Infrastructure | |
Internet Users (Internet) | Internet users (per 100 people) |
Mobile Cellular Subscriptions (Mobile) | Mobile subscriptions (per 100 people) |
Telephone lines (Tel) | Telephone lines (per 100 people) |
Information & Communication Technology (ICT) in KE(ICTex) | First PC of Internet, Mobile & Tel |
A3: Economic Incentive & Institutional Regime | |
Financial Activity (Pcrbof) | Private domestic credit from banks and other financial institutions |
Interest Rate Spreads (IRS) | Lending rate minus deposit rate (%) |
Economic Incentive in KE(Creditex) | First PC of Pcrbof and IRS |
Corruption-Control (CC) | Control of Corruption (estimate): Captures perceptions of the extent to which public power is exercised for private gain, including both petty and grand forms of corruption, as well as ‘capture’ of the state by elites and private interests” |
Rule of Law (RL) | “Rule of Law (estimate): Captures perceptions of the extent to which agents have confidence in and abide by the rules of society and in particular the quality of contract enforcement, property rights, the police, the courts, as well as the likelihood of crime and violence” |
Regulation Quality (RQ) | “Regulation Quality (estimate): Measured as the ability of the government to formulate and implement sound policies and regulations that permit and promote private sector |
Political Stability/ No violence | “Political Stability/ No Violence (estimate): Measured as the perceptions of the likelihood that the government will be destabilized or overthrown by unconstitutional and violent means, including domestic violence and terrorism” |
GovernmentEffectiveness (GE) | “GovernmentEffectiveness (estimate): Measures the quality of public services, the quality and degree of independence from political pressures of the civil service, the quality of policy formulation and implementation, and the credibility of governments commitments to such policies” |
Voice & Accountability (VA) | “Voice and Accountability (estimate): Measures the extent to which a country’s citizens can participate in selecting their government and to enjoy freedom of expression, freedom of association, and a free media” |
Institutional Regime in KE(Instireg) | First PC of CC, RL, RQ, PS, GE, and VA |
Scientific & Technical Publications (STJA) STJA | “Number of Scientific & Technical Journal Articles” |
Trademark Applications (Trademark) | “Total Trademark Applications” |
Patent Applications (Patents) | “Total Residents + Nonresident Patent Applications” |
Innovation in KE (Innovex) | First PC of Trademarks and Patents |
Panel B: Business Indicators B1: Starting Business | |
Time to Start-up (Timestart) | “Log of Time required to start a business (days)” |
Cost of Start-up (Coststart) | “Log of Cost of business start-up procedures (% of GNI per capita)” |
New business density (Newbisden) | “New business density (new registrations per 1,000 people ages 15–64)” |
Newly registered businesses (Newbisreg) | “Log of New businesses registered (number)” |
B2: Doing Business B2a: Trade | |
Cost of Export(Costexp) | “Log of Cost to export (US$ per container)” |
Trade Barriers (Tariffs) | “Tariff rate, applied, weighted mean, all products (%)” |
Trade Openness (TO) | “Export plus Import of Commodities (% of GDP)” |
B2b: Technology Exports | |
ICT Goods Exports (ICTgoods) | “ICT goods exports (% of total goods exports)” |
ICT Service Exports (ICTser) | “ICT service exports (% of service exports, BoP)” |
High-Technology Exports (Hightecexp) | “High-technology exports (% of manufactured exports)” |
B2c: Property Rights | |
Contract Enforcement (Contenfor) Contenfor Log of Time required to enforce a contract | “Log of Time required to enforce a contract” |
Registration of Property (Regprop) | Log of Time required to register property (days) “Business extent of disclosure index (0 = less disclosure to 10 = more disclosure) |
Investor Protection (Bisdiclos) | It measures the extent to which investors are protected through disclosure of ownership information” |
B3: Closing Business | |
Insolvency Resolution (Insol) | “Time to resolve insolvency (years). The number of years from the filling of insolvency in court until the resolution of distressed assets” |
Panel C: Control Variables | |
Government Expenditure (GExp) | Government final consumption expenditure (% of GDP) |
Inflation (Inf) | Consumer Price Index (annual %) |
GDP (GDPg) | Growth Rate (annual %) |