The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 2 Standard set of growth determinant variables
From: Mexico’s economic infrastructure: international benchmark and its impact on growth
Determinants of growth | Variable | Source(s) | |
|---|---|---|---|
1. Physical and human capital | Infrastructure | Synthetic infrastructure index—first principal component for telecommunications, energy and transport | Constructed from telecommunications (WDI), energy (EIA) and transport (IRF) sector |
Human capital | Ratio of total secondary school enrollment, regardless of age, to the population that respond to that level of education | Barro and Lee, Educational attainment dataset | |
2. Structural policies and institutions | Financial depth | Ratio to GDP of the stock of claims on the private sector by deposit money banks | Global financial development database (GFDD) |
Trade openness | Residual of a regression of the log of the ratio of export and imports (2005 US$) on the logs of area, population and dummies for oil-exporting and landlocked countries | Self-constructed with information from world development indicators by World Bank 2016 | |
Government burden | Government Consumption in 2005 US$, in logs | World development indicators by World Bank 2016 | |
Governance | Index from four series: prevalence of law and order, quality of bureaucracy, absence of corruption and accountability of public officials | IRGC risk governance framework, database | |
3. Stabilization policies | Lack of price stability | Inflation, annual percent change of consumer prices, in logs | World Development Indicators by World Bank 2016 |
4. External conditions | Terms of trade | Shows the national accounts export price index divided by the imports price index, with 2005 equaling 100 | World Development Indicators by World Bank 2016 |