Table 3 Summary of model variables description
Variable | Description | Measure | Designation | Source |
|---|---|---|---|---|
ACGDP | Agricultural Sector Contribution to GDP | Annual% | Dependent Variable | African Development Bank, African Highway Information, 2019 |
MCGDP | Manufacturing Sector Contribution to GDP | Annual% | Dependent Variable | African Development Bank, African Highway Information, 2019 |
CPS | Credit to the Private Sector percentage of GDP | Annual% | Independent Variable | World Bank, World Development Indicators, 2019 |
INTR | Nominal Interest Rate | Annual % | Independent Variable | World Bank, World Development Indicators, 2019 |
TOPN | Trade openness measured by Export + Import as a percentage of GDP | Annual % | Control Variable | World Bank, World Development Indicators, 2019 |
INV | Total investment as a percentage of GDP | Annual % | Control Variable | International Monetary Fund, World Economic Outlook, 2019 |
INF | The inflation rate as measured by the Consumer Price Index | Annual % | Control Variable | World Bank, World Development Indicators, 2019 |