Table 2.

Descriptive statistics of the variables.

Variables	Obs.	Mean	Std. dev.	Min.	Max.
res	2870	0.0878	0.0872	0.0186	0.7965
res1	2870	0.0138	0.0124	0.0026	0.1367
res2	2870	0.0360	0.0346	0.0021	0.3258
res3	2870	0.0380	0.0430	0.0054	0.4025
difi	2870	5.0542	0.5162	2.8344	5.8126
cov	2870	4.9834	0.5750	0.6206	5.7884
dep	2870	5.0342	0.5175	1.4563	5.8572
dig	2870	5.2181	0.6132	0.9933	6.3651
pop pgdp market	2870 2870 2870	5.7339 10.7154 1.2560	0.9304 0.5739 0.8403	1.6094 8.7729 0.0152	7.8816 13.0557 17.1414
infma	2870	0.6233	2.5161	0.0001	39.5800