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Table 7 Definitions and Sources of Variables

From: The comparative African regional economics of globalization in financial allocation efficiency: the pre-crisis era revisited

Variable(s) Definitions of Variables (Measurements) Source(s)
Banking efficiency Bank system credit on Banking system deposits FDSD (World Bank)
Financial efficiency Financial system credit on Financial system deposits (%)
Imports Imports of goods and services (% of GDP) ADI (World Bank)
Exports Exports of goods and services (% of GDP)
Trade Globalisation Imports plus Exports of goods and services (% of GDP)
Foreign investment Gross Foreign Direct Investment (% of GDP)
Private Capital Flows Gross Private Capital Flows (% of GDP)
Financial Globalisation First PC of Foreign Investment and Private Capital Flows
Globalisation First PC of Financial Globalisation and Trade Globalisation
Economic growth Gross Domestic Product (GDP) Growth (annual %)
Inflation Annual Consumer Price Index
Public Investment Gross Public Investment (% of GDP)
Foreign Aid Total Development Assistances (% of GDP)
  1. PC Principal Component. FDSD Financial Development and Structure Database. ADI African Development Indicators