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

13.5339

0.287801

47.03

<0.0001

***

Real GDP j

−0.00178053

0.00111830

−1.592

0.1337

Population growth j

0.0699981

0.0375041

1.866

0.0831

*

Real GDP K

−0.0691866

0.00620728

−11.15

<0.0001

***

Population growth K

−1.97542

0.199677

−9.893

<0.0001

***

Trade openness

0.00625462

0.00287765

2.174

0.0474

**

FDI

−0.0150927

0.0105556

−1.430

0.1747

Exchange rate

2.79452e−05

3.40419e−06

8.209

<0.0001

***

Oil rent

0.00962657

0.00732281

1.315

0.2098