Variables

Measurement indicators

Sign

Trade openness (dependent variable)

Evolution ot the mon

Generalized Price Index (Murphy & Smith, 2015)

+/−

Digital financial

The number of automated adult 100.000 mobile

money operators (ATMs) (Sarigul, 2020)

+

Rural population

Of the rural population (Chen & Ravallion, 2004)

+

GDP

Economic growth Njunguna, N., Armando, M.,

and Lydia N, (2016)

+

Exchange term

Ratio of export price indices to import price indices (Hérouville, 1975)

+

IDE

FDI flows (Thaalbi, 2013)

+

Financial development

Domestic credit to the private sector as a percentage

of GDP (Levine, 2005)

+