The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 5 Definitions of variables
From: Governance, capital flight and industrialisation in Africa
Variables | Signs | Definitions of variables (measurements) | Sources |
|---|---|---|---|
Industrialisation | Industria | Manufacturing (ISICD) | UNCTAD |
Capital flight | Capf. | Logarithm of capital flight (constant of 2010) | Ndikumana and Boyce (2012) |
Political stability | PS | “Political stability/no violence (estimate): measured as the perceptions of the likelihood that the government will be destabilised or overthrown by unconstitutional and violent means, including domestic violence and terrorism” | World Bank (WDI) |
Voice and accountability | VandA | “Voice and accountability (estimate): measures the extent to which a country’s citizens are able to participate in selecting their government and to enjoy freedom of expression, freedom of association and a free media” | World Bank (WDI) |
Political governance | Polgov | First principal component of political stability and voice and accountability. The process by which those in authority are selected and replaced | PCA |
Government effectiveness | Gov. E | “Government effectiveness (estimate): measures the quality of public services, the quality and degree of independence from political pressures of the civil service, the quality of policy formulation and implementation, and the credibility of governments’ commitments to such policies” | World Bank (WDI) |
Regulation quality | RQ | “Regulation quality (estimate): measured as the ability of the government to formulate and implement sound policies and regulations that permit and promote private sector development” | World Bank (WDI) |
Economic governance | Ecogov | “First principal component of government effectiveness and regulation quality. The capacity of government to formulate and implement policies, and to deliver services” | PCA |
Rule of law | RL | “Rule of law (estimate): captures perceptions of the extent to which agents have confidence in and abide by the rules of society and in particular the quality of contract enforcement, property rights, the police, the courts, as well as the likelihood of crime and violence” | World Bank (WDI) |
Corruption-control | CC | “Control of corruption (estimate): captures perceptions of the extent to which public power is exercised for private gain, including both petty and grand forms of corruption, as well as ‘capture’ of the state by elites and private interests” | World Bank (WDI) |
Institutional governance | Instgov | First principal component of rule of law and Corruption-control. The respect for citizens and the state of institutions that govern the interactions amongst them | PCA |
Bank efficiency | BcBd | Bank credit to bank deposits (%) | World Bank (WDI) |
Domestic credit | Domcred | Domestic credit to private sector (% of GDP) | World Bank (WDI) |
Trade | Trade | Exports and imports of goods and services (% of GDP) | World Bank (WDI) |
Domestic investment | GFCF | Gross fixed capital formation (including Acquisitions less disposals of valuables) (% of GDP) | World Bank (WDI) |
Population | Pop | Population (in millions) | World Bank (WDI) |