Symbols

Descriptions

Sources

Dependent variables

HC1

Poverty headcount ratio at national poverty lines (% of population)

World Bank Dataset23

HC2

Poverty headcount ratio at $2.15 a day (% of population)

PGap

Poverty gap at $2.15 a day (%)

Independent variables

AB

Number of active borrowers (per 1000 adults)

MIX Market24

LN

Average loan balance per borrower/GNI per capita (%)

CVS: Control variable set

AL

Arable land (% of land area)

Food and Agriculture

Organization (FAO) dataset25

AGR

Agriculture, forestry, and fishing, value added (% of GDP)

World Bank Dataset

CPI

Inflation, consumer prices (annual %)

International Monetary Fund (IMF),

International Financial Statistics (IFS)

POP

Population ages 0 - 14 (% of total population)

United Nations Population Division. World Population Prospects: 2022 Revision

TR

Trade (% of GDP)

World Bank Dataset

EDU

Government expenditure on education, total (% of GDP)

UNESCO Institute for Statistics (UIS)26

HE

Current health expenditure (% of GDP)

World Health Organization (WHO), Global Health Expenditure database27

FDI

Foreign direct investment, net inflows (% of GDP)

International Monetary Fund (IMF),

International Financial Statistics (IFS)

RPOP

Rural population (% of total population)

United Nations Population Division’s World Urbanization Prospects