The meaning and calculation basis

Number of observations

Mean value

The standard deviation

The minimum value

The maximum value

cab

Current account balance as a share of GDP (%)

638

0.68

16.17

−107.88

32.32

ydr

The youth dependency ratio, that is, the number of children aged 0 - 14/the number of working people aged 15 - 64 (%)

638

28.86

9.65

9.64

57.56

edr

The elderly dependency ratio, that is, the population over the age of 65/the number of working people aged 15 - 64 (%)

638

11.43

2.56

5.25

21.88

lnreer

The real effective exchange rate, that is, the bilateral nominal exchange rate between China and the United States * the CPI of various provinces in China based on the year of 1994/the US CPI based on the year of 1994

638

−1.85

0.14

−2.15

−1.60

lngdp

Actual per capita national income, that is, real GDP per capita, taking the logarithm

638

9.53

0.96

7.28

11.55

fdi

Foreign direct investment as a share of GDP (%)

638

3.11

3.05

0.07

24.25

open

The degree of trade openness, that is, the ratio of import and export to GDP (%)

638

31.35

39.51

3.21

217.33

gov

Public expenditure, that is, the proportion of local fiscal expenditure in GDP (%)

638

16.71

8.62

3.33

62.74