Public Investments, Human Capital, and Political Stability: The Triptych of Economic Success

Table 12

Partial associations.

Partial association between per capita GDP growth and	Coefficient	Controlling for
Public investments	0.395	(i) Initial GDP per capita, 1990; (ii) Initial human capital, 1990
Public investments	0.424	(i) Initial GDP per capita, 1990; (ii) Initial human capital, 1990; (iii) Initial government size, 1990
Public investments	0.434	(i) Initial GDP per capita, 1990; (ii) Initial human capital, 1990; (iii) Initial government size, 1990; (iv) Private investment, average
Public investments	0.430	(i) Initial GDP per capita, 1990; (ii) Initial human capital, 1990; (iii) Initial government size, 1990; (iv) Private investment, average; (v) Government effectiveness; (vi) Political stability; (vii) Rule of law; (viii) Control of corruption
Public investments (1990–2010)	0.042	Bad governance
Public investments (1990–2010)	0.573	Good governance
Public investments (1990–2000)	−0.062	Bad governance
Public investments (1990–2000)	0.284	Good governance
Public investments (2000–2010)	0.174	Bad governance
Public investments (2000–2010)	0.349	Good governance

Notes: by “bad governance” we mean the situation of a country where all political variables’ values of indices are below the mean, for every and each period while for “good governance” the values of all political variables are above the mean.