Background
Data
Variable | Source | Description |
---|---|---|
GDP per Capita | The World Bank Database (2017) | GDP per capita is gross domestic product divided by midyear population. Data are in constant 2010 U.S. dollars. |
GNI per Capita | The World Bank Database (2017) | GNI is gross national income converted to international dollars using purchasing power parity rates. Data are in constant 2010 U.S. dollars. |
Human Development Index | Human Development Reports (2017) | “The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions.” |
Established Business Ownership Rate | Global Entrepreneurship Monitor ( 2017) | The variable represents “percentage of 18–64 population who are currently an owner-manager of an established business, i.e., owning and managing a running business that has paid salaries, wages, or any other payments to the owners for more than 42 months.” |
Unemployment Rate | The World Bank Database (2017) | Unemployment, total (% of total labour force, national estimate) |
Urban Population (% Share) | The World Bank Database (2017) | Urban population refers to % of people living in urban areas as defined by national statistical offices. |
Economically Active Population (% Share) | The World Bank Database (2017) | Labour force participation rate (%) is the proportion of the population ages 15 and older that is economically active. |
Variable | Mean | Standard Deviation | Number of Observations (N) |
---|---|---|---|
GDP per Capita | 9832.27 | 13142.58 | 715 |
GNI per Capita | 9592.09 | 12881.45 | 642 |
Human Development Index | .72 | .11 | 330 |
Established Business Ownership Rate | 9.71 | 6.60 | 243 |
Unemployment Rate | 7.92 | 5.04 | 693 |
Urban Population (% Share) | 62.47 | 22.96 | 720 |
Economically Active Population (% Share) | 64.05 | 6.96 | 720 |
Methods and Background
Model Number | (1) | (2) | (3) | (4) | (5) | (6) |
---|---|---|---|---|---|---|
Independent / Dependent Variable | Log(GDP per Capita) | Log(GNI per Capita) | Human Development Index | |||
Established Business Ownership Rate | −0.00709*** (0.00166) | −0.00428*** (0.00146) | −0.000287 (0.000190) | |||
Established Business Ownership Rate (−1) | −0.00526*** (0.00196) | −0.00240* (0.00145) | 0.000227 (0.000235) | |||
Unemployment Rate | −0.0175*** (0.00341) | −0.0167*** (0.00385) | − 0.0191*** (0.00361) | −0.0195*** (0.00370) | − 0.00224*** (0.000724) | −0.00148** (0.000657) |
Urban Population (% Share) | 0.0371*** (0.00694) | 0.0372*** (0.00800) | 0.00688* (0.00368) | 0.00351 (0.00542) | 0.00174* (0.00108) | 0.00231* (0.00123) |
Economically Active Population (% Share) | −0.00708 (0.0132) | −0.00470 (0.0135) | − 0.00956 (0.0134) | −0.00554 (0.0115) | − 0.00365 (0.00186) | −0.00257 (0.00222) |
Constant | 6.413*** (1.026) | 6.212*** (1.108) | 8.526*** (0.921) | 8.478*** (0.871) | 0.869*** (0.168) | 0.751*** (0.181) |
Country Dummies | Yes | Yes | Yes | Yes | Yes | Yes |
Year Dummies | Yes | Yes | Yes | Yes | Yes | Yes |
Observations | 243 | 218 | 227 | 203 | 118 | 113 |
R2 | 0.994 | 0.995 | 0.996 | 0.996 | 0.999 | 0.998 |
Adjusted R2 | 0.992 | 0.993 | 0.994 | 0.995 | 0.998 | 0.998 |
AIC | − 528.7 | −495.1 | − 558.1 | − 510.6 | − 940.3 | −897.1 |
BIC | − 333.1 | − 319.1 | − 373.2 | − 328.4 | −832.3 | − 801.6 |