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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 1 Definition of variables and sources of data

From: Uganda’s experience with debt and economic growth: an empirical analysis of the effect of public debt on economic growth—1980–2016

Variable and symbol Definition Source of data on variable
GDP growth (GDP) Growth in gross domestic
Product measured in percentages.
World Bank
Real Interest Rates (RIR) This is the lending interest rate adjusted for inflation as measured by the GDP deflator World Bank
Trade Openness (TO) This study used the sum of exports and imports to GDP ratio as a proxy for trade openness World Bank and Bank of Uganda
Debt-to-GDP Ratio (DEBT_G) The ratio of a country’s gross public debt to its gross domestic product World Bank
Human capital Development (HC) This is the ability to perform labor to produce economic value (proxied by gross secondary school enrollment rate) World bank
Population growth rate (POPN_G) This is the rate at which the number of individuals in a population increases in a given time period, expressed as a fraction of the initial population World bank
Gross capital formation (K-Fm) It consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories World Bank
Total debt service/Exports (DEBT_X) The debt service ratio is the ratio of debt service payments made by or due from a country to that country’s export earnings World bank