1980-1999

2000-2013

No. of observations

311

397

Variable

Mean

Std. Err.

Mean

Std. Err.

GDP per capita

945.7575

(58.75119)

1614.33

100.7506

Gross capital formation

21.8569

0.6236674

22.8486

0.4185061

FDI net inflows

1.660072

0.2556347

4.350426

0.2980835

Public invest. (%GDP)

8.879247

0.3007102

7.602776

0.2000825

Private invest. (%GDP)

14.07851

0.5129147

14.22882

0.3378688

Primary education

87.10338

1.571724

103.0571

1.03696

Population 15 - 64

53.28569

0.2573083

55.95213

0.3010879

Population growth

2.508483

0.0652767

2.290563

0.0458587

Fiscal balance

−2.875114

0.3204948

−2.160211

0.2567121

External debt (% of GDP)

79.43013

3.333907

53.92505

1.992051

Credit to private sector

20.00677

1.102684

25.92097

1.477892

Domestic demand

109.881

0.317373

109.7408

0.8976776

Real interest rate

7.120834

0.7857104

9.810229

0.5289201

REER (1997 = 100)

136.1643

14.39596

96.00119

1.58689

Inflation

14.38074

1.279202

8.663156

1.180876

Trade openness

66.69018

1.977268

73.46059

1.614753

Px/Pm

103.2714

2.516365

103.9135

4.857099

Px/Py

227.589

729.5908

243.7542

22.48241