Page 24 - Azerbaijan State University of Economics
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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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