Research Article
Public Investments, Human Capital, and Political Stability: The Triptych of Economic Success
Table 6
Main regressions for per capita GDP growth, 1990–2010.
| | Independent variables | Dependent variable | | GDP per capita growth, 1990–2010 | | [1] | [2] | [3] | [4] | [5] | [6] |
| | Intercept | −0.252
(−0.14) | −0.050
(−0.03) | −0.436
(−0.23) | −0.259
(−0.21) | −0.010
(−0.01) | −0.278
(−0.22) | | GDP90 | −0.0001***
(−5.11) | −0.0001***
(−4.67) | −0.0001***
(−4.08) | −0.0002***
(−5.25) | −0.0002***
(−4.95) | −0.0002***
(−4.63) | | Sch90 | 0.211**
(2.48) | 0.226**
(2.61) | 0.225**
(2.58) | 0.233***
(3.09) | 0.265***
(3.59) | 0.254***
(3.41) | | Govcons | −0.080
(−1.64) | −0.079
(−1.66) | −0.074
(−1.58) | −0.069
(−1.62) | −0.066
(−1.54) | −0.061
(−1.44) | | Pubinv | 0.162**
(2.47) | 0.173**
(2.56) | 0.174**
(2.55) | 0.147**
(2.44) | 0.154**
(2.43) | 0.153**
(2.38) | | Prinv | 0.076*
(1.72) | 0.089*
(1.95) | 0.076
(1.65) | 0.063
(1.52) | 0.080*
(1.86) | 0.064
(1.46) | | Fertility90 | −0.011
(−0.06) | −0.013
(−0.06) | 0.016
(0.08) | −0.019
(−0.11) | −0.039
(−0.22) | −0.008
(−0.04) | | Mortality_gr | −0.055
(−0.56) | −0.097
(−0.98) | −0.069
(−0.75) | −0.071
(−0.92) | −0.131*
(−1.81) | −0.087
(−1.24) | | Effectiveness | 1.185***
(4.18) | — | — | 1.400***
(4.51) | — | — | | Contr_corrupt | — | 0.851***
(4.33) | — | — | 1.007***
(4.37) | — | | Rule_of_law | — | — | 0.914***
(3.10) | — | — | 1.054***
(3.62) | | Africa | −0.035
(−0.09) | −0.018
(−0.05) | −0.224
(−0.53) | −0.238
(−0.52) | −0.206
(−0.43) | −0.461
(−0.94) | | Asia | −0.285
(−0.55) | −0.239
(−0.44) | −0.361
(−0.67) | −0.082
(−0.15) | 0.040
(0.07) | −0.092
(−0.16) | | Inflation | −0.001***
(−3.59) | −0.001***
(−4.17) | −0.001***
(−3.28) | −0.001***
(−3.75) | −0.001***
(−4.37) | −0.001***
(−3.19) | | Deficit | −0.040
(−0.99) | −0.051
(−1.22) | −0.050
(−1.18) | — | — | — | | Debt | — | — | — | 0.001
(0.18) | 0.0001
(0.02) | −0.001
(−0.20) | | Openness | −0.006
(−1.29) | −0.05
(−1.04) | −0.005
(−1.21) | −0.007
(−1.47) | −0.006
(−1.25) | −0.006
(−1.39) | | Gini | −0.010
(−0.73) | −0.010
(−0.68) | −0.003
(−0.16) | −0.013
(−1.02) | −0.016
(−1.15) | −0.007
(−0.49) | | Volatgovcons | −0.306***
(−2.74) | −0.389***
(−3.35) | −0.376***
(−3.22) | −0.169
(−1.36) | −0.230*
(−1.82) | −0.209
(−1.64) |
| | Obs. | 74 | 74 | 74 | 79 | 79 | 79 | | 0.65 | 0.63 | 0.63 | 0.64 | 0.61 | 0.61 |
|
|
***, **, and * represent levels of significance at 1%, 5%, and 10% respectively.
White Heteroskedasticity corrected -statistics in parentheses.
|
