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Table 4 Sources of variables and summary statistics

From: Determinants of social spending in Latin America during and after the Washington consensus: a dynamic panel error-correction model analysis

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