We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
Published online by Cambridge University Press: 14 January 2010
CAPOPEN: Legal capital market openness (the existence or absence of capital controls) from Quinn 1997. This measure uses the IMF's Annual Reports on Capital Exchange Restrictions to assess the severity of a nation's restrictions on the payment and receipts of capital. This measure ranges from 0 to 4 where 4 indicates fully free payment and receipts of capital.
CORPTAX/PROF: Ratio of corporate income taxes to net operating surplus of domestic producers (profits) (From Swank 1998b).
CURRACCT: The current account balance as a percentage of GDP. Negative numbers indicate a current account deficit (OECD Statistical Compendium, various years).
ELECTION: A 0–1 dummy variable, coded 1 for an election during that month and 0 for no election (Swank 1998b).
ERCHANGE: Monthly change in the nominal trade-weighted effective exchange rate (Datastream [electronic publication]).
GCAPITAL/GDP: Government capital spending as a percentage of GDP (World Bank,World Development Indicators, various years, CD-ROM).
GCONSUMPTION/GDP: Total government consumption spending as a percentage of GDP (OECD Statistical Compendium, various years).
GOODS/GDP: Government spending on goods and services as a percentage of GDP (World Bank, World Development Indicators, various years, CD-ROM).
GOVBAL: The general government budget balance as a percentage of GDP, where a negative number indicates a deficit (OECD 1997).
GOVDEBT: The ratio of government debt to GDP, where larger numbers indicate larger debt shares. The OECD definition of debt/GDP ratios, which includes all levels of government, as well as social security liabilities, differs slightly from the European Commission's (Maastricht Treaty) definition (OECD 1997).
To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.
