Table 8.

Summary statistics of variables used in the second stage analysis

Variable	Obs	Mean	Std. Dev.	Min	Max
GDPn,t	1295	106.90	39.30	33.50	337.50
nofaci,t	1295	7.69	3.92	1	24
medi	1295	0.53	0.50	0	1
yearfoundi	1295	1844.49	191.18	1050	2001
Rev_corei,t	971	61.74	18.71	15.44	95.37
Womeni,t	984	40.00	11.52	6.65	74.24
Studentsi,t	1295	19266.81	12097.42	1584	63630

Source Own compilation