| Variable Name | Acronym | Variable Explanation | Data Source |
| Total Labour Force | LFC | Due to lack of data on the labour force for the period 1980 to 1989, the main method used to generate the values for the labour force for the period 1980 to 1989 is the backward extrapolation technique similar to that used by Smith and Sincich (1988), Chow and Lin (1971), Smith (1987), Chang et al. (2007), Tsonis and Austin (1981) and Sunde and Akanbi, (2016). | World Bank-World Development Indicators and author calculations |
| Unemployment | UEM | Due to lack of data on the labour force for the period 1980 to 1989, the main method used to generate the values for the labour force for the period 1980 to 1989 is the backward extrapolation technique similar to that used by Smith and Sincich (1988), Chow and Lin (1971), Smith (1987), Chang et al. (2007), Tsonis and Austin (1981) and Sunde and Akanbi, (2016). | World Bank-World Development Indicators and author calculations |
| Employment | EMP | Total employment is equivalent to total labour force minus total unemployment. | World Bank-World Development Indicators and author calculations |
| Gross Fixed Capital Formation | GFCF | Gross fixed capital formation as a percent of GDP | SADC |
| Real Gross Domestic Product | GDP | GDP in constant local currency | World Bank-World Development Indicators |
| Lending Rates | LER | Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability. | World Bank-World Development Indicators |