Making Abundant Natural Resources Work for Developing Economies

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7.1 AppendixTable A.1 List of selected countries according to financial development categoryHIGH MIDDLE LOWChina Algeria BotswanaMalaysia Bolivia Dominican RepublicSouth Africa Chile GabonZimbabwe Indonesia VenezuelaIranTunisia34
Table A.2 Definition of variablesVariable name Description Definition SourceCREDIT Domestic credit Domestic credit provided by the banking sector includes all WDI websiteprovided by thebanking sector (%GDP)credit to various sectors on a gross basis, with the exception ofcredit to the central government, which is net. The bankingsector includes monetary authorities and deposit money banks,as well as other banking institutions where data are available(including institutions that do not accept transferable depositsbut do incur such liabilities as time and savings deposits).Examples of other banking institutions are savings andmortgage loan institutions and building and loan associations.PRIVYDomestic creditto the privatesector (% GDP)Domestic credit to private sector refers to financial resourcesprovided to the private sector, such as through loans, purchasesof nonequity securities, and trade credits and other accountsreceivable, that establish a claim for repayment. For somecountries these claims include credit to public enterprises.WDI websiteRESOURCE Natural resourcerentsNon-renewable resource rents per capita (defined in Rambaldiet al., 2000; Bolt et al.,2002)World Bank (2006)M2/GDPMoney and quasimoney as % ofGDPMoney and quasi money comprise the sum of currency outsidebanks, demand deposits other than those of the centralgovernment, and the time, savings, and foreign currencydeposits of resident sectors other than the central government.This definition of money supply is frequently called M2; itcorresponds to lines 34 and 35 in the International MonetaryFund's (IMF) International Financial Statistics (IFS).WDI database35
Page 2 and 3: 1. IntroductionThis study is relate
Page 4 and 5: properties of the data. 5 Consequen
Page 7 and 8: where saving had gone up subsequent
Page 9 and 10: Empirical examination of the causal
Page 11 and 12: solving problems of omitted variabl
Page 13 and 14: As mentioned earlier, the Hadri tes
Page 15 and 16: Where ê it is the estimated residu
Page 17 and 18: them in a similar fashion. They gen
Page 19 and 20: of credit to the private sector (F
Page 21 and 22: Financial development index : Follo
Page 23 and 24: The statistics also illustrate a ne
Page 25 and 26: Tables 3 and 4 present panel cointe
Page 27 and 28: is the dependent variable. Thus, it
Page 29 and 30: The results from table 9 show that
Page 31 and 32: Previous FMOLS estimates show a pos
Page 33: Tsionas, 2004; Darrat, 1999) that t
Page 37 and 38: Alternative causality testsTable A.
Page 39 and 40: Chang, T., & Caudill, S. B. (2005).
Page 41 and 42: Levine, R., & Zervos, S. (1998). St

Making Abundant Natural Resources Work for Developing Economies

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