Table 2.
Descriptive Statistics
| Mean | Std. Dev. | Min | Max | ||
|---|---|---|---|---|---|
| Panel | lnOOP | 4.219 | 1.040 | 1.624 | 6.364 |
| lnPHCE | 5.270 | 1.260 | 2.093 | 7.543 | |
| lnGDP | 8.282 | 0.978 | 7.024 | 10.042 | |
| lnTEC | 23.670 | 1.334 | 21.096 | 27.609 | |
| lnAGRIC | 7.576 | 1.984 | 3.296 | 14.219 | |
| lnPOP | 15.427 | 1.203 | 13.718 | 18.865 | |
| lnINDUS | 25.281 | 1.634 | 21.816 | 36.079 | |
| lnOOP | 4.10 | 0.36 | 3.53 | 4.58 | |
| lnPHCE | 4.58 | 0.38 | 3.97 | 5.05 | |
| Egypt | lnGDP | 7.62 | 0.43 | 6.97 | 8.19 |
| lnTEC | 23.81 | 0.41 | 23.14 | 24.39 | |
| lnAGRIC | 7.46 | 0.32 | 6.54 | 7.71 | |
| lnPOP | 15.21 | 0.13 | 15.03 | 15.45 | |
| lnINDUS | 24.80 | 0.58 | 24.03 | 25.53 | |
| lnOOP | 3.288 | 0.734 | 1.943 | 4.113 | |
| lnPHCE | 4.068 | 0.723 | 2.788 | 4.918 | |
| Indonesia | lnGDP | 16.282 | 0.110 | 16.114 | 16.496 |
| lnTEC | 26.106 | 0.633 | 24.961 | 26.749 | |
| lnAGRIC | 7.640 | 0.602 | 6.618 | 8.267 | |
| lnPOP | 24.967 | 0.618 | 23.968 | 25.618 | |
| lnINDUS | 8.629 | 0.362 | 8.102 | 9.201 | |
| lnOOP | 3.261 | 0.397 | 2.589 | 3.825 | |
| lnPHCE | 3.641 | 0.448 | 2.921 | 4.277 | |
| India | lnGDP | 6.930 | 0.516 | 6.094 | 7.609 |
| lnTEC | 26.095 | 0.505 | 25.334 | 26.750 | |
| lnAGRIC | 10.262 | 0.584 | 9.052 | 10.834 | |
| lnPOP | 17.938 | 0.175 | 17.655 | 18.241 | |
| lnINDUS | 26.593 | 0.596 | 25.573 | 27.32492 | |
| lnOOP | 2.843 | 0.403 | 2.131 | 3.363 | |
| lnPHCE | 3.248 | 0.368 | 2.641 | 3.775 | |
| lnGDP | 6.816 | 0.387 | 6.181 | 7.295 | |
| Pakistan | lnTEC | 24.312 | 0.538 | 23.478 | 24.980 |
| lnAGRIC | 6.985 | 0.278 | 6.428 | 7.460 | |
| lnPOP | 15.844 | 0.156 | 15.577 | 16.072 | |
| lnINDUS | 24.220 | 0.440 | 23.500 | 24.763 | |
| lnOOP | 3.623 | 0.681 | 2.533 | 4.430 | |
| lnPHCE | 4.261 | 0.597 | 3.308 | 5.011 | |
| lnGDP | 7.503 | 0.441 | 6.864 | 8.040 | |
| Philippines | lnTEC | 23.716 | 0.443 | 23.033 | 24.197 |
| lnAGRIC | 7.979 | 0.336 | 6.750 | 8.225 | |
| lnPOP | 15.109 | 0.235 | 14.748 | 15.473 | |
| lnINDUS | 24.716 | 0.491 | 23.993 | 25.346 | |
| lnOOP | 2.459 | 0.587 | 1.624 | 3.384 | |
| lnPHCE | 2.860 | 0.535 | 2.093 | 3.694 | |
| lnGDP | 6.601 | 0.477 | 6.024 | 7.437 | |
| Bangladesh | lnTEC | 23.631 | 0.395 | 23.145 | 24.302 |
| lnAGRIC | 5.759 | 0.065 | 5.666 | 5.869 | |
| lnPOP | 15.109 | 0.235 | 14.748 | 15.473 | |
| lnINDUS | 24.002 | 0.621 | 23.199 | 25.083 | |
| lnOOP | 4.973 | 0.323 | 4.201 | 5.324 | |
| lnPHCE | 6.516 | 0.534 | 5.409 | 7.169 | |
| lnGDP | 9.023 | 0.511 | 7.861 | 9.588 | |
| Argentina | lnTEC | 23.823 | 0.446 | 23.023 | 24.337 |
| lnAGRIC | 8.471 | 0.177 | 8.095 | 8.800 | |
| lnPOP | 15.109 | 0.235 | 14.748 | 15.473 | |
| lnINDUS | 25.186 | 0.459 | 24.120 | 25.669 | |
| lnOOP | 5.533 | 0.726 | 4.486 | 6.364 | |
| lnPHCE | 6.290 | 0.711 | 5.357 | 7.171 | |
| lnGDP | 8.852 | 0.531 | 7.948 | 9.491 | |
| Brazil | lnTEC | 24.863 | 0.502 | 24.014 | 25.456 |
| lnAGRIC | 10.038 | 0.233 | 9.706 | 10.338 | |
| lnPOP | 16.364 | 0.226 | 15.996 | 16.738 | |
| lnINDUS | 26.407 | 0.542 | 25.462 | 27.127 | |
| lnOOP | 3.87 | 0.73 | 2.38 | 4.58 | |
| lnPHCE | 5.59 | 0.49 | 4.84 | 6.15 | |
| lnGDP | 8.46 | 0.46 | 7.73 | 9.01 | |
| Colombia | lnTEC | 23.38 | 0.38 | 22.79 | 23.76 |
| lnAGRIC | 7.45 | 0.38 | 6.21 | 7.77 | |
| lnPOP | 14.78 | 0.23 | 14.45 | 15.19 | |
| lnINDUS | 24.86 | 0.55 | 24.01 | 25.55 | |
| lnOOP | 4.217 | 0.467 | 3.485 | 4.769 | |
| lnPHCE | 5.274 | 0.493 | 4.502 | 5.900 | |
| Peru | lnGDP | 8.306 | 0.489 | 7.571 | 8.846 |
| lnTEC | 22.833 | 0.504 | 22.136 | 23.442 | |
| lnAGRIC | 4.182 | 1.067 | 3.296 | 6.983 | |
| lnPOP | 14.374 | 0.173 | 14.072 | 14.668 | |
| lnINDUS | 24.373 | 0.573 | 23.433 | 24.983 | |
| lnOOP | 3.163 | 0.146 | 2.914 | 3.339 | |
| lnPHCE | 4.923 | 0.504 | 4.048 | 5.544 | |
| lnGDP | 8.308 | 0.447 | 7.546 | 8.892 | |
| Thailand | lnTEC | 22.833 | 0.504 | 22.136 | 23.442 |
| lnAGRIC | 6.822 | 0.258 | 6.280 | 7.360 | |
| lnPOP | 15.577 | 0.208 | 15.230 | 15.921 | |
| lnINDUS | 25.343 | 0.468 | 24.504 | 25.897 | |
| lnOOP | 4.235 | 0.646 | 3.237 | 5.155 | |
| lnPHCE | 5.010 | 0.875 | 3.746 | 6.228 | |
| lnGDP | 8.139 | 0.813 | 6.866 | 9.187 | |
| China | lnTEC | 26.855 | 0.639 | 25.904 | 27.609 |
| lnAGRIC | 12.343 | 1.336 | 10.140 | 14.219 | |
| lnPOP | 18.535 | 0.168 | 18.284 | 18.865 | |
| lnINDUS | 28.340 | 0.811 | 27.036 | 29.342 | |
| lnOOP | 5.390 | 0.610 | 4.425 | 6.303 | |
| lnPHCE | 6.342 | 0.804 | 5.131 | 7.543 | |
| Venezuela | lnGDP | 9.146 | 0.609 | 8.093 | 10.010 |
| lnTEC | 23.196 | 0.810 | 21.997 | 24.321 | |
| lnAGRIC | 4.221 | 0.302 | 3.555 | 4.796 | |
| lnPOP | 14.215 | 0.207 | 13.865 | 14.491 | |
| lnINDUS | 27.528 | 4.437 | 22.433 | 26.079 | |
| lnOOP | 5.592 | 0.416 | 4.926 | 6.146 | |
| lnPHCE | 6.574 | 0.510 | 5.782 | 7.216 | |
| South Africa | lnGDP | 9.196 | 0.466 | 8.400 | 9.676 |
| lnTEC | 22.596 | 0.432 | 21.852 | 23.109 | |
| lnAGRIC | 5.890 | 0.199 | 5.485 | 6.275 | |
| lnPOP | 14.242 | 0.1932544 | 13.952 | 14.578 | |
| lnINDUS | 24.737 | 0.508 | 23.828 | 25.216 | |
| lnOOP | 4.90 | 0.65 | 3.55 | 5.46 | |
| lnPHCE | 6.93 | 0.49 | 5.84 | 7.35 | |
| Chile | lnGDP | 9.63 | 0.42 | 8.70 | 10.04 |
| lnTEC | 21.97 | 0.33 | 21.38 | 22.36 | |
| lnAGRIC | 6.59 | 0.19 | 6.27 | 6.89 | |
| lnPOP | 14.30 | 0.13 | 14.16 | 14.54 | |
| lnINDUS | 24.70 | 0.43 | 23.76 | 25.11 | |
| lnOOP | 4.863 | 0.730 | 3.361 | 5.644 | |
| lnPHCE | 5.930 | 0.672 | 4.558 | 6.698 | |
| Czech Republic | lnGDP | 8.881 | 0.707 | 7.480 | 9.681 |
| lnTEC | 24.457 | 0.498 | 23.427 | 25.008 | |
| lnAGRIC | 7.827 | 1.635 | 6.265 | 9.750 | |
| lnPOP | 16.778 | 0.036 | 16.719 | 16.866 | |
| lnINDUS | 26.478 | 0.681 | 25.202 | 27.197 | |
| lnOOP | 5.03 | 0.37 | 4.30 | 5.38 | |
| lnPHCE | 6.40 | 0.46 | 5.47 | 6.82 | |
| Russia | lnGDP | 9.20 | 0.42 | 8.41 | 9.64 |
| lnTEC | 23.03 | 0.35 | 22.39 | 23.44 | |
| lnAGRIC | 8.42 | 0.33 | 7.92 | 8.95 | |
| lnPOP | 15.48 | 0.10 | 15.34 | 15.70 | |
| lnINDUS | 25.41 | 0.43 | 24.63 | 25.80 | |
| lnOOP | 4.1 | 0.6 | 2.8 | 4.9 | |
| lnPHCE | 4.9 | 0.6 | 3.6 | 5.7 | |
| Poland | lnGDP | 7.7 | 0.6 | 6.5 | 8.3 |
| lnTEC | 22.9 | 0.4 | 22.2 | 23.5 | |
| lnAGRIC | 8.5 | 0.3 | 7.9 | 9.1 | |
| lnPOP | 15.8 | 0.0 | 15.7 | 15.8 | |
| lnINDUS | 24.0 | 0.5 | 23.0 | 24.7 | |
| lnOOP | 5.073 | 0.693 | 3.642 | 5.891 | |
| lnPHCE | 5.900 | 0.629 | 4.549 | 6.611 | |
| Ukraine | lnGDP | 8.534 | 0.566 | 7.384 | 9.135 |
| lnTEC | 21.491 | 0.197 | 21.096 | 21.886 | |
| lnAGRIC | 5.869 | 0.566 | 5.355 | 6.974 | |
| lnPOP | 14.133 | 0.039 | 14.100 | 14.208 | |
| lnINDUS | 22.948 | 0.5123 | 21.321 | 23.721 | |
| Bulgaria | lnOOP | 4.231 | 0.712 | 3.212 | 5.110 |
| lnPHCE | 5.032 | 0.621 | 4.212 | 6.612 | |
| lnGDP | 8.432 | 0.654 | 7.210 | 9.21 | |
| lnTEC | 24.032 | 0.212 | 23.321 | 25.022 | |
| lnAGRIC | 7.123 | 1.432 | 6.108 | 9.212 | |
| lnPOP | 16.032 | 0.0321 | 16.198 | 16.312 | |
| lnINDUS | 26.212 | 0.654 | 25.431 | 27.212 | |
| lnOOP | 4.48 | 0.47 | 3.72 | 5.04 | |
| lnPHCE | 5.50 | 0.48 | 4.71 | 6.04 | |
| lnGDP | 8.91 | 0.39 | 8.27 | 9.33 | |
| Malaysia | lnTEC | 23.63 | 0.51 | 22.73 | 24.25 |
| lnAGRIC | 8.68 | 0.27 | 7.77 | 8.95 | |
| lnPOP | 14.12 | 0.25 | 13.72 | 14.54 | |
| lnINDUS | 25.17 | 0.41 | 24.48 | 25.65 |