Table 2.
Summary statistics for training and testing sets
| Variable | Obs | Mean (training set) | Std. Dev. (training set) | Min (training set) | Max (training set) | Mean (testing set) | Std. Dev. (Testing set) | Min(Testing set) | Max (Testing set) |
|---|---|---|---|---|---|---|---|---|---|
| wagessalary | 1204(516) | 26.779 | 21.77 | 5.049 | 85.412 | 27.151 | 22.537 | 5.106 | 85.871 |
| vul tot | 1204(516) | 71.106 | 22.471 | 9.429 | 94.75 | 70.747 | 23.268 | 8.826 | 94.759 |
| lossesdue power | 1204(516) | 6.804 | 4.938 | 0.7 | 25.1 | 6.427 | 4.718 | 0 | 25.1 |
| urban pop | 1204(516) | 4.268 | 1.885 | -6.879 | 17.499 | 4.195 | 1.888 | -7.182 | 15.714 |
| unempl | 1204(516) | 7.58 | 7.48 | 0.3 | 37.976 | 7.684 | 7.513 | 0.3 | 37.94 |
| trade | 1204(516) | 67.487 | 36.253 | 9.136 | 290.499 | 66.853 | 34.662 | 0 | 311.354 |
| trade tax | 1204(516) | 16.15 | 13.095 | 0.107 | 63.451 | 15.404 | 12.787 | 0 | 63.451 |
| taxrev | 1204(516) | 14.198 | 6.339 | 4.204 | 39.258 | 14.182 | 6.287 | 0 | 37.353 |
| tariffwm | 1204(516) | 12.301 | 5.381 | 0.84 | 32.6 | 12.771 | 7.106 | 0 | 91.27 |
| self_employ | 1204(516) | 73.221 | 21.77 | 14.588 | 94.951 | 72.849 | 22.537 | 14.129 | 94.894 |
| rurpopgrof | 1204(516) | 1.735 | 1.335 | -6.707 | 10.906 | 1.656 | 1.477 | -7.866 | 7.297 |
| rd | 1204(516) | 0.275 | 0.18 | 0.005 | 0.888 | 0.28 | 0.18 | 0 | 0.898 |
| rer | 1204(516) | 198.423 | 168.865 | 46.021 | 3520.534 | 200.184 | 122.564 | 0 | 2182.799 |
| hiv_preva | 1204(516) | 2.664 | 3.554 | 0.1 | 24.1 | 2.584 | 3.74 | 0 | 24.2 |
| prenatal | 1204(516) | 77.749 | 17.935 | 23.4 | 99.4 | 75.969 | 19.565 | 0 | 99.3 |
| poverthc | 1204(516) | 48.929 | 13.849 | 7.9 | 73.2 | 47.661 | 14.206 | 7.9 | 73.2 |
| povertyhc mid | 1204(516) | 69.272 | 23.899 | 2.2 | 98.5 | 68.718 | 24.645 | 3.1 | 98.5 |
| povertyhc low | 1204(516) | 49.48 | 24.837 | 0.2 | 94.3 | 49.342 | 25.332 | 0.4 | 94.3 |
| povmidd | 1204(516) | 38.282 | 18.955 | 0.4 | 86.7 | 38.317 | 19.581 | 0.7 | 86.7 |
| povint | 1204(516) | 23.018 | 16.497 | 0 | 86.7 | 23.342 | 17.313 | 0.1 | 86.7 |
| urbanization | 1204(516) | 39.323 | 14.338 | 10.838 | 92.697 | 38.745 | 13.696 | 0 | 100 |
| popgrof | 1204(516) | 2.614 | 0.875 | -1.305 | 7.449 | 2.532 | 1.101 | -6.766 | 8.118 |
| finaninsti | 1204(516) | 2.623e + 08 | 9.764e + 08 | -2.027e + 09 | 8.594e + 09 | 2.503e + 08 | 9.760e + 08 | -7.162e + 09 | 6.988e + 09 |
| exr | 1204(516) | 408.351 | 1250.663 | 0 | 19,068.417 | 407.802 | 1462.092 | 0 | 18,498.601 |
| noda | 1204(516) | 11.632 | 11.713 | -0.188 | 79.827 | 11.091 | 11.397 | -0.251 | 94.946 |
| netmigration | 1204(516) | -21,467.614 | 262,740 | -1,374,270 | 1,457,943 | -19,246.359 | 295,523.94 | -1,374,270 | 1,457,943 |
| mortality 5yrs | 1204(516) | 127.098 | 63.887 | 13.7 | 329.3 | 127.848 | 68.421 | 0 | 337.4 |
| manuf VA | 1204(516) | 2.456 | 9.168 | -34.921 | 97.709 | 3.636 | 16.181 | -43.84 | 375.158 |
| logisticqua TT | 1204(516) | 2.167 | 0.335 | 1.27 | 3.79 | 2.132 | 0.349 | 0 | 3.79 |
| logisticquaoveral | 1204(516) | 2.398 | 0.302 | 1.61 | 3.775 | 2.374 | 0.321 | 0 | 3.67 |
| logisticqua ship | 1204(516) | 2.845 | 0.431 | 1.67 | 4.03 | 2.839 | 0.458 | 0 | 4.03 |
| literacy adult | 1204(516) | 56.851 | 21.081 | 10.895 | 95.868 | 56.709 | 21.682 | 0 | 95.868 |
| labforce pr | 1204(516) | 69.802 | 11.312 | 42.381 | 92.453 | 69.87 | 11.536 | 42.409 | 92.453 |
| transport invest | 1204(516) | 3.050e + 08 | 5.834e + 08 | 0 | 3.483e + 09 | 3.543e + 08 | 6.454e + 08 | 0 | 3.483e + 09 |
| inflation | 1204(516) | 45.776 | 822.219 | -9.809 | 23,773.132 | 17.538 | 102.741 | -13.057 | 2154.437 |
| industry VA | 1204(516) | 22.678 | 12.112 | 1.305 | 72.153 | 23.735 | 12.355 | 0 | 72.717 |
| hci | 1204(516) | 0.393 | 0.069 | 0 | 0.678 | 0.396 | 0.077 | 0 | 0.678 |
| house spend | 1204(516) | 0.713 | 8.947 | -45.41 | 65.181 | 1.032 | 8.214 | -46.068 | 87.014 |
| grossavings | 1204(516) | 15.406 | 18.256 | -69.534 | 84.49 | 17.083 | 16.674 | -70.263 | 87.096 |
| natl expend | 1204(516) | 109.86 | 18.643 | 57.699 | 255.256 | 108.993 | 16.652 | 0 | 261.428 |
| gfcf | 1204(516) | 21.085 | 10.653 | -2.424 | 85.941 | 21.436 | 10.946 | 0 | 93.547 |
| domesticinvest | 1204(516) | 11.914 | 20.269 | -133.979 | 85.541 | 13.388 | 18.583 | -141.974 | 88.389 |
| gov_educ | 1204(516) | 15.581 | 5.659 | 4.673 | 37.521 | 15.445 | 5.567 | 0 | 34.309 |
| gov | 1204(516) | 6.38 | 31.534 | -71.464 | 565.539 | 4.477 | 18.399 | -68.238 | 165.168 |
| gov_gdp | 1204(516) | 14.813 | 6.874 | 0 | 51.975 | 14.894 | 6.773 | 0 | 51.975 |
| gpc | 1204(516) | 3783.244 | 4347.165 | 464.018 | 29,223.465 | 3855.974 | 4458.085 | 0 | 27,242.656 |
| gdpg | 1204(516) | 3.588 | 4.881 | -30.145 | 33.629 | 3.592 | 5.522 | -50.248 | 35.224 |
| fdi | 1204(516) | 3.353 | 7.973 | -8.703 | 103.337 | 2.435 | 4.215 | -28.624 | 40.167 |
| emp ind | 1204(516) | 12.601 | 8.19 | 1.43 | 42.939 | 12.711 | 8.62 | 1.539 | 43.114 |
| emp agric | 1204(516) | 54.751 | 21.465 | 4.6 | 92.298 | 54.951 | 22.264 | 4.65 | 92.303 |
| electricity | 1204(516) | 545.412 | 953.395 | 0 | 4665.176 | 533.118 | 958.839 | 0 | 4851.693 |
| ease | 1204(516) | 136.628 | 38.692 | 13 | 184 | 134.261 | 41.851 | 0 | 184 |
| health exp | 1204(516) | 1.661 | 1.098 | 0.062 | 5.496 | 1.631 | 1.102 | 0 | 6.049 |
| cps | 1204(516) | 17.836 | 20.968 | 0.403 | 149.234 | 18.695 | 21.393 | 0 | 160.125 |
| cpia transparency | 1204(516) | 2.812 | 0.592 | 1.5 | 4.5 | 2.808 | 0.6 | 0 | 4.5 |
| cpia trade | 1204(516) | 3.728 | 0.522 | 2 | 4.5 | 3.743 | 0.511 | 0 | 4.5 |
| cpiapublicmgt | 1204(516) | 3.006 | 0.455 | 2 | 4.1 | 3.02 | 0.478 | 0 | 4 |
| cpiasocinclusion | 1204(516) | 3.157 | 0.471 | 2.2 | 4.3 | 3.166 | 0.477 | 0 | 4.3 |
| cpia macro | 1204(516) | 3.641 | 0.66 | 1.5 | 5 | 3.671 | 0.645 | 0 | 5 |
| cpia gender | 1204(516) | 3.195 | 0.535 | 2 | 4.5 | 3.196 | 0.555 | 0 | 4.5 |
| cpiafinsector | 1204(516) | 2.954 | 0.428 | 2 | 4 | 2.947 | 0.437 | 0 | 4 |
| debt | 1204(516) | 104.141 | 103.919 | 0 | 289.845 | 109.07 | 105.418 | 0 | 289.845 |
| moneyg | 1204(516) | 66.543 | 455.289 | -99.864 | 6968.922 | 76.271 | 457.558 | -29.245 | 4105.573 |
| agric VA | 1204(516) | 26.747 | 16.109 | 1.828 | 76.534 | 25.563 | 15.59 | 0 | 79.042 |
| importburden | 1204(516) | 137.893 | 100.549 | 3.5 | 420 | 136.994 | 107.926 | 0 | 588 |
| exportburden | 1204(516) | 108.208 | 71.445 | 4 | 347 | 107.994 | 77.735 | 0 | 515 |
| natresourcerent | 1204(516) | 10.836 | 9.99 | 0 | 56.939 | 10.861 | 10.305 | 0 | 59.604 |
| kofgi | 1204(516) | 40.353 | 10.119 | 16.922 | 72.354 | 39.856 | 10.381 | 0 | 72.269 |
| kofgidj | 1204(516) | 40.995 | 11.306 | 13.308 | 80.993 | 40.575 | 11.51 | 0 | 81.288 |
| kofecgj | 1204(516) | 34.676 | 10.965 | 10.514 | 81.49 | 34.073 | 11.136 | 0 | 79.549 |
| koftrgj | 1204(516) | 28.778 | 14.291 | 6.494 | 88.014 | 28.567 | 14.566 | 0 | 88.497 |
| koffindj | 1204(516) | 40.481 | 14.338 | 6.099 | 80.37 | 39.63 | 13.921 | 0 | 81.357 |
| kofsodj | 1204(516) | 35.241 | 16.046 | 4.289 | 84.779 | 34.64 | 16.833 | 0 | 85.141 |
| gini | 1204(516) | 51.994 | 21.443 | 0 | 86.276 | 51.909 | 21.048 | 0 | 86.832 |
| fin_devt | 1204(516) | 0.124 | 0.089 | 0 | 0.641 | 0.124 | 0.088 | 0 | 0.648 |
| fi | 1204(516) | 0.209 | 0.125 | 0 | 0.74 | 0.211 | 0.126 | 0 | 0.73 |
| fm | 1204(516) | 0.034 | 0.072 | 0 | 0.52 | 0.031 | 0.068 | 0 | 0.54 |
| fid | 1204(516) | 0.099 | 0.149 | 0 | 0.88 | 0.095 | 0.144 | 0 | 0.88 |
| fia | 1204(516) | 0.075 | 0.125 | 0 | 0.88 | 0.078 | 0.132 | 0 | 0.86 |
| fie | 1204(516) | 0.49 | 0.197 | 0 | 0.99 | 0.499 | 0.208 | 0 | 0.98 |
| fmd | 1204(516) | 0.052 | 0.1 | 0 | 0.83 | 0.045 | 0.09 | 0 | 0.75 |
| fma | 1204(516) | 0.031 | 0.11 | 0 | 0.89 | 0.032 | 0.112 | 0 | 0.58 |
| fme | 1204(516) | 0.016 | 0.058 | 0 | 0.96 | 0.014 | 0.046 | 0 | 0.42 |
| npl | 1204(516) | 13.187 | 12.73 | 0 | 74.1 | 13.844 | 13.578 | 0 | 74.1 |
| bankOHcost | 1204(516) | 6.471 | 5.082 | 0 | 89.423 | 6.159 | 4.073 | 0 | 28.192 |
| roe net | 1204(516) | 17.975 | 24.454 | -93.62 | 146.913 | 19.74 | 24.961 | -93.62 | 160.344 |
| roa net | 1204(516) | 1.675 | 2.837 | -15.047 | 9.182 | 1.814 | 2.8 | -15.047 | 12.106 |
| Boone | 1204(516) | -0.048 | 0.233 | -2.541 | 1.607 | -0.031 | 0.235 | -0.896 | 1.607 |
| onlinepayment | 1204(516) | 21.345 | 18.123 | 0 | 76.411 | 20.576 | 17.807 | 0 | 76.411 |
| insurancePrem | 1204(516) | 0.633 | 1.79 | 0 | 14.52 | 0.622 | 1.72 | 0 | 15.381 |
| phonePayment | 1204(516) | 3.801 | 5.157 | 0 | 37.105 | 3.626 | 5.141 | 0 | 37.105 |
| phoneMomo | 1204(516) | 10.532 | 13.179 | 0 | 50.122 | 10.009 | 12.84 | 0 | 50.122 |
| remit | 1204(516) | 4.666 | 19.582 | 0 | 235.924 | 4.057 | 15.585 | 0 | 232.217 |
| stockPxVol | 1204(516) | 11.08 | 5.729 | 0 | 43.1 | 10.949 | 5.513 | 0 | 34.376 |
| infrastr qua | 1204(516) | 3.467 | 0.749 | 1.8 | 5.417 | 3.432 | 0.784 | 0 | 5.641 |
| ssegp | 1204(516) | 0.737 | 0.281 | 0 | 1.527 | 0.728 | 0.285 | 0 | 1.504 |
| int pop | 1204(516) | 4.942 | 10.76 | 0 | 62 | 4.937 | 10.667 | 0 | 64 |
| sis m | 1204(516) | 495.477 | 9655.395 | 0 | 264,256.63 | 302.971 | 5725.258 | 0 | 155,191.3 |
| mcshd | 1204(516) | 23.577 | 38.438 | 0 | 198.152 | 23.21 | 38.546 | 0 | 173.811 |
| fts hd | 1204(516) | 2.019 | 4.51 | 0 | 32.669 | 2.256 | 5.074 | 0 | 34.273 |
| fbshd | 1204(516) | 0.299 | 1.767 | 0 | 27.603 | 0.322 | 1.717 | 0 | 21.639 |
| fd2 | 1204(516) | 0.023 | 0.044 | 0 | 0.41 | 0.023 | 0.042 | 0 | 0.42 |
| ps | 1204(516) | 16.016 | 21.48 | 0 | 169.299 | 17.132 | 23.363 | 0.001 | 169.299 |
1204 is number of observations in training set; 516 is observations in testing set
Source: authors’ construct 2021