Table 4 Sources of variables and summary statistics
Variable | Source | Obs. | Mean | Standard deviation | Min. | Max. |
|---|---|---|---|---|---|---|
Total social expenditure (%GDP)a | CEPALSTAT | 391 | 11.24 | 5.27 | 2.51 | 25.55 |
Education expenditure (%GDP) | CEPALSTAT | 391 | 3.60 | 1.43 | 0.70 | 7.79 |
Health expenditure (%GDP) | CEPALSTAT | 391 | 2.48 | 1.27 | 0.44 | 6.75 |
Social security expenditure (%GDP) | CEPALSTAT | 391 | 4.38 | 3.55 | 0.05 | 15.32 |
Housing and other expenditures (%GDP) | CEPALSTAT | 391 | 0.99 | 1.31 | 0.00 | 9.16 |
Fiscal burden | BID-CIAT 2012 | 391 | 19.93 | 6.08 | 7.84 | 40.80 |
Fiscal burden growth | BID-CIAT 2012 | 374 | 0.02 | 0.08 | − 0.45 | 0.32 |
Per capita income (logged USD) | World Development Indicators (World Bank) | 391 | 8.39 | 0.66 | 6.97 | 9.50 |
Per capita income growthb | World Development Indicators (World Bank) | 374 | 0.02 | 0.03 | − 0.12 | 0.15 |
Trade (export + import) (%GDP) | World Development Indicators (World Bank) | 391 | 63.36 | 33.56 | 13.00 | 167.83 |
Trade growth | World Development Indicators (World Bank) | 374 | 0.88 | 6.14 | − 38.84 | 28.38 |
Foreign direct investment inflows (%GDP) | World Development Indicators (World Bank) | 391 | 3.09 | 2.61 | − 2.50 | 17.13 |
Foreign direct investment inflows growth | World Development Indicators (World Bank) | 374 | 0.15 | 1.92 | − 7.55 | 9.99 |
External debt (%GDP) | CEPALSTAT | 391 | 47.01 | 38.11 | 11.41 | 302.86 |
External debt growth | CEPALSTAT | 374 | − 1.78 | 10.36 | − 106.57 | 76.66 |
Average interest on new external debt commitments (%) | World Development Indicators (World Bank) | 391 | 2.92 | 2.10 | 0.38 | 17.69 |
Interest payments of debt growth | World Development Indicators (World Bank) | 374 | − 0.08 | 1.35 | − 12.58 | 16.34 |
Unemployment rate (% working population) | World Development Indicators (World Bank) | 391 | 8.52 | 3.84 | 1.30 | 20.00 |
Unemployment growth | World Development Indicators (World Bank) | 374 | − 0.06 | 1.45 | − 5.42 | 6.00 |
Democracy dichotomy “0” is authoritarian and semi-democracy; “1” is democracy | Latin America and Caribbean Political Dataset, 1945–2012 Evelyne Huber and John D. Stephens | 391 | 0.70 | 0.46 | 0.00 | 1.00 |
Right-wing party dummy “1” if the seat share is a majority, “0” otherwise. | Latin America and Caribbean Political Dataset, 1945–2012 Evelyne Huber and John D. Stephens | 391 | 0.36 | 0.48 | 0.00 | 1 |
Right-wing party (growth) | Latin America and Caribbean Political Dataset, 1945–2012 Evelyne Huber and John D. Stephens | 374 | 0.00 | 0.16 | − 1 | 1 |