Revisiting the Relationship between Economic Growth and Government Size

Table 3

Estimated equations (Model (5)).

Equation (1)	Equation (2)	Equation (3)	Equation (4)
Gr(𝑌)	𝑔𝐼/𝑌	𝑔𝑐/𝑌	𝐼/𝑌
1.41 (𝐼/𝑌)	−0.24𝐸−01  Gr(𝑌)	−0.13 Gr(𝑌)	0.37 Gr(𝑌/𝑁)
(6.45)^**	(−0.86)	(−2.37)^**	(7.13)^**
0.33𝐸−01  Gr(𝐿)	−0.65𝐸−01  𝑃gI/𝑃	0.63𝐸−01  𝑃𝑔𝑐/𝑃	−1.36 (𝑔𝐼/𝑌)
(0.85𝐸−01)	(−2.09)^**	(0.47)	(−5.11)^**
1.46 (𝑔𝐼/𝑌)	−0.26𝐸−01  𝑋/𝑌	0.29𝐸−01  Gr(self/𝑁)	−0.19 (𝑔𝑐/𝑌)
(2.24)^**	(−0.21)	(0.70)	(−1.37)
−0.54 (𝑔𝑐/𝑌)	−0.54𝐸−03𝑡	1.29 Gr(old/𝑁)	−0.55𝐸−03  Gr(𝐾𝑓)
(−1.80)^*	(−14.37)^**	(2.32)^**	(−0.72)
0.23𝐸−03𝑡	0.58𝐸−01	1.58 Gr(𝑁)	−0.59𝐸−03𝑡
(.59)	(34.24)^**	(1.27)	(−3.43)^**
−0.17		−0.35𝐸−03𝑡	0.26
(−1.90)^*		(−4.84)^**	(8.03)^**
		0.18
		(55.02)^**

Notes: 𝑡-ratios are in parentheses, 𝐸 indicates scientific notation.
^**Significant at the 95 percent level.
^*Significant at the 90 percent level.