Used 413 observations Included 15 cross-sectional units

Time-series length: minimum 24, maximum 28 Robust (HAC) standard errors

Coefficient

Std. Error

t-ratio

p-value

Constant

13.5944

0.591162

23.00

<0.0001

***

Real GDP j

0.00504797

0.00183913

2.745

0.0158

**

Population growth j

0.0480551

0.0298844

1.608

0.1301

Real GDP K

0.0250596

0.0746745

0.3356

0.7422

Population Growth K

−3.10235

0.656759

−4.724

0.0003

***

Trade openness

0.00515041

0.00472338

1.090

0.2939

FDI

−0.00209812

0.0175826

−0.1193

0.9067

Exchange rate

−2.37110e−05

1.50092e−05

−1.580

0.1365

Oil rent

0.00721362

0.0158013

0.4565

0.6550