(4)

(5)

1990-

1997-

GDP

0.955^***

0.887^***

(0.010)

(0.021)

POP65

0.024

0.192^**

(0.068)

(0.085)

FLABOUR

0.046

‒0.042

(0.085)

(0.135)

POPD

0.151

0.651^**

(0.197)

(0.242)

PUBE

0.330^***

0.039

(0.070)

(0.085)

UNEMPLOY

0.049^***

‒0.005

(0.011)

(0.016)

TIME

0.334^***

0.515^***

(0.041)

(0.062)

R²

0.641

0.068

Observations

393

221