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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