| Variables | Definition | Sign | Data Source of Variables |
| Y | Constant basic gross domestic product 2010 |
| |
| FBCF | Gross fixed capital formation in %GDP | + | |
| H | Gross primary school enrollment rate | + | |
| Ouv | Open trade openness as a percentage of GDP | + | |
| E | Energy use in Kep |
| |
| Institution | Average of the governance variables |
| |
| Interaction | Interaction institution*energy consumption | + |