Variable | Description | Unit of measure | Source |
gge | Total public expenditure as an indicator of fiscal policy. | % of GDP | WEO |
ggr | Total government revenue as an indicator of fiscal policy. | % of GDP | WEO |
tnrr | Total resource rents are revenues from natural resources. They are measured by the sum of the rents from oil, natural gas, coal (hard and soft), minerals and forests relative to gross domestic product. This variable provides information on an economy’s dependence on natural resources. | % of GDP | WDI |
vacc | Freedom of expression and accountability. This subindicator of political governance captures people’s perception of their participation in the choice of elected officials through freedom of expression, freedom of association and freedom of press. | Index | WGI |
psnv | Political instability and absence of violence. This subindicator of political governance measures people’s perception of the likelihood of the destabilization or overthrow of the current regime by unconstitutional means or violence, including politically motivated violence and terrorism. | Index | WGI |
gef | Effectiveness of public action. This subindicator of economic governance makes it possible to take into account people’s perception of the quality of public services, quality of the administration and its independence from political pressure, quality of public policies and credibility of the government’s commitment to these policies. | Index | WGI |
rq | Quality of regulation. This subindicator of economic governance captures the population’s perception of the government’s ability to formulate and implement policies and laws that enable the development of the private sector and the promotion of market laws. | Index | WGI |
rl | Respect of regulations. This subindicator of institutional governance captures people’s perceptions of agents’ trust in society’s laws and the propensity to comply with them. It is particularly concerned with the quality of contract enforcement, respect for property rights, the proper functioning of the police and justice system, and the likelihood of crime and violence. | Index | WGI |
ccorr | Control of corruption. This subindicator of institutional governance measures the population’s perception of the degree to which governments seek private gain, including forms of petty and grand corruption and the confiscation of the state by elites and private interests. | Index | WGI |
debt | Total public debt. This variable reflects debt sustainability. | % of GDP | WEO |
fdi | Net capital inflows. As a proportion of GDP makes, this variable makes it possible to assess the role of financing constraints. | % of GDP | WDI |
ttrad2 | Terms of the exchange. This variable measures the level of competitiveness of the economy. |
| WDI |
gdppc | Real GDP per capita. This variable captures the level of economic development. | Constant prices | WDI |
inflt | Inflation. This variable refers to the rate of price change in the economy as a whole. | GDP deflator (%) | WDI |
trade | Trade openness. This variable is captured by the share of the sum of exports and imports of goods and services in gross domestic product. It provides information on the degree of openness of the economy. | % of GDP | WDI |