Table 2 Overview of control variables and hypotheses.
Control variable | H1: Democracy | H2: Economic development | H3: Human development | H4: Political stability |
|---|---|---|---|---|
Rule of Law | X | |||
Regulatory quality | X | X | ||
Financial Development Index | X | X | X | X |
Fuel exports as share of merchandise exports | X | X | X | |
Political stability and absence of violence | X | X | X | |
GDP per capita | X | |||
HDI | X |
