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.