Table 1.

Variable descriptive measurements and Pearson Correlations.

Variables	Mean	Std. Devi.	Min	Max	1	2	3	4	5
lnGDP	0.552	0.205	0.006	0.884	1
lnSMEO	0.206	0.112	0.105	0.332	-0.512∗∗∗	1
lnEXPR	0.463	0.141	0.161	0.6	0.253	-0.622∗∗∗	1
lnHDI	-0.270	0.043	-0.351	-0.18	0.343∗	-0.723∗∗∗	0.911∗∗∗	1
lnBCSME	0.460	0.179	0.250	0.808	0.322∗	-0.469∗∗∗	0.698∗∗∗	0.830∗∗∗	1

Notes: ∗∗∗,∗∗,∗ significant at 1%; 5%; &10%.

RGDP: Real Gross Domestic Product.

SMEO: Total SMEs output as a percentage of GDP.

EXPR: Annual export rate of SMEs products.

HDI: Human Development Index.

BCSME: Banks credit to SME sector.

Data is log Transformed.