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THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.80, # 2, 2023, pp. 14-27
2. Appendix
Table 2: List of sampled countries List of sampled countries
NO Country name Year start war Year-end war
1 El Salvador 1979 1992
2 Guinea- Bissau 1998 1998
3 India 1985 1993
4 Nicaragua 1982 1990
5 Peru 1982 1995
6 Serra Leone 1991 1996
7 South Africa 1989 1993
8 Uganda 1980 1988
Source: UNDP 2008
Table 3: Descriptive summery
Variable Obs Mean Std. Dev. Min Max
RGDPG 224 0.342 5.402 -29.462 21.028
FD 224 19.956 15.824 0.000 66.785
Off exchange 224 218.180 538.828 0.0714 2985.186
Money supply 224 29.964 15.033 7.288 69.896
LIR 224 47.797 300.041 3.000 4260.014
GNEXP 224 106.056 8.150 85.670 145.497
C. govt debt 224 60.841 41.783 7.747 217.139
D. saving 224 12.055 11.333 -20.164 36.190
Trade 224 43.863 17.592 7.662 97.729
FDI 224 1.121 3.555 -28.624 32.301
Aid 224 31.757 37.305 0.649 187.231
Source: Authors computation using STATA ,2023
RGDP; Real gross domestic annual growth, FD: financial development, Ms: annual
money supply growth, LIR: Lending interest rate, GNEXP: Gross national
expenditure, C. Govt debt: central government debt, D. saving: Domestic saving,
Trade: Trade openness, FDI: Foreign Direct Investment and Aid.
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