Table 7 Variable description and sources

Dependent variables

 1

Within effect

Within

See Sect. 3

Authors based on Dieppe et al. (2020)

 2

Static effect

Static

See Sect. 3

Authors based on Dieppe et al. (2020)

 3

Dynamic effect

Dynamic

See Sect. 3

Authors based on Dieppe et al. (2020)

 4

Structural change effect

Structural

See Sect. 3

Authors based on Dieppe et al. (2020)

Independent variables

 5

Technology Choice Index

TCI

It is computed based on the formula in the methods section

Authors based on WDI

 6

Institution

Institution

The Quality of Government is measured by the revised combined Polity Score

Basic Dataset, University of Gothenburg

 7

Trade openness

openness

Export plus imports divided by total GDP (all in current US$)

Computed based on WDI

 8

Human capital

HCI

Human capital index, based on years of schooling (Barro & Lee, 205. and assumed returns, based on Mincer equation estimates around the world

Robert J. Barro and Jong-Wha Lee: http://www.barrolee.com/ (WDI)

 9

Population growth (annual %)

pop

Annual population growth rates. The population is based on the facto definition, which counts all residents regardless of legal status or citizenship

WDI 2020

 10

Financial development

Findev_1

Domestic credit to the private sector by banks (% of GDP)

WDI 2020

 11

Manufacturing share in GDP (%)

Manufacturing value-added as share of GDP (%)

WDI 2022