| Variable | Definition | Source | Expected sign |
| ec | electricity consumption in billions of kilowatts hours | EIA |
|
| rgdpgr | Growth rate in real gross domestic product (%) | WDI | Positive (+) |
| openess | trade openness(exports plus imports as % of GDP) | WDI | Negative (−) |
| fdi | foreign direct investment(% of GDP) | WDI | Positive (+) |
| popgr | Population growth rate (%) | WDI | Positive (+) |
| indus | value added by industry (% of GDP) | WDI | Positive (+) |