| Variable . | Mean . | Standard Deviation . |
|---|---|---|
| Real GDP per worker | 9.5 | 1.2 |
| Undervaluation | −0.1 | 0.8 |
| Dependency ratio | 0.7 | 0.2 |
| Trade openness | 0.6 | 0.7 |
| Government expenditure share (% of GDP) | 0.2 | 0.1 |
| Investment share (% of GDP) | 0.2 | 0.1 |
| M2/GDP | 3.7 | 0.7 |
| Private credit (% of GDP) | 3.4 | 1.0 |
| Variable . | Mean . | Standard Deviation . |
|---|---|---|
| Real GDP per worker | 9.5 | 1.2 |
| Undervaluation | −0.1 | 0.8 |
| Dependency ratio | 0.7 | 0.2 |
| Trade openness | 0.6 | 0.7 |
| Government expenditure share (% of GDP) | 0.2 | 0.1 |
| Investment share (% of GDP) | 0.2 | 0.1 |
| M2/GDP | 3.7 | 0.7 |
| Private credit (% of GDP) | 3.4 | 1.0 |
GDP = gross domestic product.
Notes: Real gross domestic product (GDP) per worker, undervaluation, M2/GDP, and private credit/GDP are in logarithmic form.
Sources: Authors’ calculations based on World Bank. “World Development Indicators.” http://databank.worldbank.org/data/reports.aspx?source=world-development-indicators; Penn World Tables 8.0. http://www.rug.nl/research/ggdc/data/pwt/