Revisiting the Relationship between Economic Growth and Government Size

Table 4

Estimated equations (Model (5) without the equation for 𝑔_𝐼/𝑌).

Equation (1)	Equation (2)	Equation (3)
Gr(𝑌)	𝑔𝑐/𝑌	𝐼/𝑌
1.43 (𝐼/𝑌)	−0.13 Gr(𝑌)	0.38 Gr(𝑌/𝑁)
(6.51)^**	(−2.38)^**	(7.15)^**
0.25𝐸−01 Gr(𝐿)	0.55𝐸−01  𝑃𝑔𝑐/𝑃	−1.33 (𝑔𝐼/𝑌)
(0.63𝐸−01)	(0.39)	(−5.03)^**
1.78 (𝑔𝐼/𝑌)	0.69𝐸−01 Gr(self/𝑁)	−0.19 (𝑔𝑐/𝑌)
(2.71)^**	(1.63)	(−1.36)
−0.50 (𝑔𝑐/𝑌)	1.24 Gr(old/𝑁)	−0.55𝐸−03 Gr(𝐾𝑓)
(−1.66)^*	(2.15)^**	(−0.71)
0.40𝐸−03𝑡	1.42 Gr(𝑁)	−0.57𝐸−03𝑡
(1.03)	(1.11)	(−3.36)^**
−0.20	−0.37𝐸−03𝑡	0.26
(−2.20)^**	(−5.11)^**	(8.00)^**
	0.18
	(55.03)^**

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