Country	T	C_t		GDP_t		G_t		ρ
Country	T	Mean	Std.	Mean	Std.	Mean	Std.	ρ
Benin	47	21.798	0.434	22.013	0.524	19.981	0.668	0.927*
Burkina	47	21.768	0.544	22.080	0.637	20.293	0.977	0.941*
Cote d’Ivoire	47	23.233	0.326	23.676	0.278	21.745	0.233	0.846*
Gambia	40	19.921	0.523	20.165	0.390	18.207	0.310	−0.355*
Ghana	47	23.247	0.484	23.482	0.538	21.331	0.730	0.919*
Guinea-Bissau	47	20.070	0.355	20.213	0.318	18.295	0.335	0.147
Mali	47	22.147	0.481	22.338	0.552	20.353	0.685	0.923*
Niger	47	21.761	0.274	22.014	0.336	19.970	0.476	0.884*
Nigeria	36	25.592	0.552	25.970	0.507	23.525	0.546	0.717*
Senegal	47	22.449	0.452	22.731	0.408	20.902	0.345	0.910*
Sierra Leone	47	21.151	0.366	21.307	0.299	18.922	0.354	0.882*
Togo	47	21.183	0.510	21.497	0.326	19.535	0.266	0.411*
Panel	546	21.982	1.450	22.244	1.498	20.215	1.474	0.955*