| Variables |
Definition/Measurement |
Source |
| Global Entrepreneurship Index (GEI) |
14 entrepreneurship pillars in 3 sub-indices attitudes, abilities and aspirations. |
GEDI ( 2017) |
| New business density (NBD) |
New registrations per 1,000 people aged between15-64. |
World Bank ( 2017c) |
| Education (EDU) |
Education expenditure as % of GNI. |
World Bank ( 2017a) |
| Investment (INV) |
Gross fixed capital formation (GCFC) as % of GDP. |
World Bank ( 2017a) |
| GDP per capita (GDP) |
GDP divided by midyear population. |
World Bank ( 2017a) |
| Trade (TRA) |
Trade as % of GDP. |
World Bank ( 2017a) |
| Unemployment (UEM) |
Total unemployment as % of total labor force. |
World Bank ( 2017a) |
| Corruption (COR) |
The modified score ranges from 0 (the best) to 5 (the worst) and reversed the measure by multiplying by -1. The recalculating formula: COR=SCORE*-1+2.5. |
World Bank ( 2017b) |
