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

12.2008

0.425261

28.69

<0.0001

***

Real GDP j

−0.00149631

0.00254191

−0.5887

0.5655

Population growth j

0.0712812

0.0287953

2.475

0.0267

**

Real GDP K

−0.0318989

0.0150471

−2.120

0.0524

*

Population growth K

−1.94596

0.310121

−6.275

<0.0001

***

Trade openness

0.0133320

0.00668396

1.995

0.0659

*

FDI

−0.00797392

0.0206714

−0.3857

0.7055

Exchange rate

1.23134e−05

5.72137e−06

2.152

0.0493

**

Oil rent

0.0273165

0.0188463

1.449

0.1692