Table 2.

Descriptive statistics.

Variable	Obs.	Mean	Median	Max	Min	Std. Dev.
Y	25	3.904	4.26	7.547	0.526	1.883
DEBT	25	0.666	0.655	0.876	0.52	0.089
TFP	25	1.593	1.443	2.351	0.978	0.435
INF	25	9.236	7.412	38.512	0.4	7.732
GS	25	0.124	0.117	0.199	0.095	0.025
EXP	25	0.053	0.055	0.069	0.037	0.009
VAA	25	3.296	3.313	4.403	2.559	0.422
PSV	25	1.196	0.62	3.876	0.034	1.138
GEF	25	3.815	3.805	4.376	3.364	0.299
REQ	25	3.734	3.724	4.49	3.189	0.251
ROL	25	3.428	3.391	4.375	3.063	0.265
COC	25	3.166	3.249	3.78	2.56	0.28