Table 3.
Summary statistics for the main variables used in analysis.
Source: Authors’ calculations
| Variables | Observations | Mean | Standard deviation |
|---|---|---|---|
| Government expenditure model | |||
| GDP | 372 | 191,799 | 37,338 |
| Net Tax | 372 | 5,151 | 2,027 |
| Central Government | 372 | 7,630 | 1,334 |
| Local Government | 372 | 32,575 | 7,829 |
| Consumption | 372 | 72,884 | 13,219 |
| Trade Balance | 372 | 6,878 | 1,462 |
| Investment model | |||
| Gross National Income | 372 | 2,762 | 201 |
| Net Tax | 372 | 5,151 | 2,027 |
| Investment in infrastructure | 372 | 473 | 47 |
| Investment in manufacturing | 372 | 482 | 59 |
| Investment in R&D | 372 | 99 | 13 |
| External Debt model | |||
| Short-term debt | 372 | 115,367.0 | 15,427.8 |
| Long-term debt | 372 | 70,771.4 | 8,153.2 |
| Government expenditure | 372 | 197,912.2 | 27,843.8 |
| Government revenue | 372 | 208,665.3 | 28,579.5 |