Working Paper Series: Special Edition of 2016 to 2018 Interns

Appendix

Table 2: Definition of Variables Variable Category Description

Expected Sign

Definition

Depende nt Variable Financial Innovatio n

GGDP _PC

Growth in GDP per capita

GDP divided by the number of person in the country.

-

Point of sale Terminal

POST

Positive

The number of Point of sales Terminals Total value of Debit and Credit card transaction as % of GDP

Card transactions (value) Private Sector to GDP

CTR

Positive

Financial Develop ment

PSC

Positive

Private sector credit divide by GDP

Control variables TO

Trade Openness

Positive

Exports plus imports divided by GDP Total Government Expenditure divided by GDP gross fixed capital formation divided by GDP

Government Expenditure

GEXP

Negative

Gross Fixed Capital Formation

GCF

Positive

Source: World Bank data and International Monetary Fund.

Table 3: Summary Statistics mn1

Column2 Column3 Column4 Column5 Column6

Variable

Obs

Mean

Std. Dev

Min

Max

lgdp_pc

91 91 91 91 91 91 91 91

10.10013 0.4520624 6.369605 0.329554 6.52493 0.4282712 5.636359 0.6356231 11.66282 0.8105327

9.5467 5.8984 5.4806 4.5017 8.8736

10.9757 7.2291 7.5507 7.6769 13.4979

psc

lpost latpc

ctr gcf

23.47063

8.91972 8.624759 57.44871

to

42.1258 9.609704

0 65.47549

gexp

23.17437 6.074538 13.45268 43.31087

Source: Calculated by Author

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