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

Table 8

Sensitivity results for public investments and initial human capital.

-Variable	Beta coefficient	St. error	-statistic	Number of countries		Control variables	Robust/fragile
Public investment	Low 0.161	0.074	2.17	79	0.45	Gini index; Debt; Inflation	Robust
	Base 0.175	0.079	2.23	85	0.34
	High 0.183	0.065	2.81	77	0.53	Openness; Volatility of consumption; Deficit
Initial human capital	Low 0.215	0.076	2.84	77	0.58	Inflation; Volatility of consumption; Deficit	Robust
	Base 0.284	0.082	3.44	85	0.34
	High 0.301	0.087	3.43	82	0.46	Openness; Volatility of consumption; Gini index

Initial GDP per capita, government consumption, and private investment variables are fragile as their coefficients are insignificant, including the -variables.