Variables;Notation;"Calculation, %";"Previous research"
"Dependent variable"
"Private investment";PI;"Private investment/GDP";"Rai et al. (2024); IascoPereira, Duregger (2024); Omitogun (2018); Ouédraogo et al. (2019); Elroukh (2024)"
"Independent variables"
"Gross domestic product";GDP;"Annual growth rate of local real GDP";"Omitogun (2018); Elroukh (2024); Marcos, Vale (2024); Maluleke et al. (2023)"
"Trade openness";OP;"Import & Export/GDP";"Iasco-Pereira, Duregger (2024); Ouédraogo et al. (2019); Maluleke et al. (2023)"
"Credit to the private sector";CR;"Credit to the private sector/GDP";"Ouédraogo et al. (2019); IascoPereira, Duregger (2024); Maluleke et al. (2023)"
"Recurrent expenses";RE;"Recurrent expenses /GDP";"Rai et al. (2024); Omitogun (2018)"
Labor;LB;"Percentage of local labor force aged over 15/Total population";"Iasco-Pereira, Duregger (2024)"
"Public investment";PU;"Public investment /GDP";"Rai et al. (2024); IascoPereira, Duregger (2024); Omitogun (2018); Ouédraogo et al. (2019); Elroukh (2024)"