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. 2020 Jul 2;15(3):707–740. doi: 10.1007/s11558-020-09385-y

Table 2.

Summary statistics of variables

Variable	Obs	Mean	Std.Dev.	Min	Max	Start	Source
EIB loan dummy	16,530	0.251	0.434	0	1	1959	EIB
EIB loans in million EUR	16,530	28.70	99.26	0	1874	1959	EIB
EIB loans over sum of EIB loans in year t	16,530	0.00345	0.0148	0	0.471	1959	EIB
EIB loans over GDP	9,251	0.00139	0.00397	0	0.0733	1980^a	EIB
EIB loans interquartile range	4,148	2.550e + 07	5.860e + 07	0	9.850e + 08	1959	EIB
EIB loans standard deviation	2,418	3.220e + 07	4.890e + 07	0	6.970e + 08	1959	EIB
Ln loans without zeros	4,148	3.797	1.546	-2.717	7.536	1959	EIB
Capital city * joining EU	16,530	0.0457	0.209	0	1	1959
GDP in billion EUR	9,251	35.57	45.27	0.271	565.0	1980^a	ERD
GDP p.c. t − 6 to t − 1	8,960	18822	10118	1708	96309	1980^a	ERD
Population in thousand	9,249	1694	1477	22.76	12070	1980^a	ERD
Thousand hours worked per employee	8,686	1310	1150	19.43	9572	1980^a	ERD
Compensation per employee in thousand EUR	8,726	18236	21533	219.6	246062	1980^a	ERD
Gross fixed capital formation in million EUR	8,736	7763	9279	46.97	124611	1980^a	ERD
Home region dummy work	16,530	0.0492	0.216	0	1	1959	EIB, EU Archives
Home region dummy education	16,530	0.0454	0.208	0	1	1959	EIB, EU Archives
Spatial lag Home region dummy work	16,473	0.0525	0.0298	0.0132	0.198		EIB, Eurostat
Ln sum EU funds	16,530	6.474	8.479	0	21.60	1994	EU Archives

^a For Eastern European countries, the variables are only available since 1990

Notes: ERD stands for European Regional Database