Variables/ Regressions | (11) | (12) | (13) | (14) | (15) | (16) | (17) | (18) | (19) | (20) | (21) |
Dependent Variables |
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Private Debt |
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Independent Variables |
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GDP per capita & productivity | 2.490718*** (3.69) |
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GDP growth |
| −8.759206 (−0.98) |
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Political stability |
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| 38.97029 (0.99) |
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Corporate income tax rate |
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| 1.165138 (0.61) |
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Ease of doing business |
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| 5.512327*** (3.13) |
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Corruption |
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| 6.875932*** (4.14) |
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Labor unions |
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| 1.345414* (1.71) |
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Pensioners |
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| −868.77*** (−3.19) |
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Pensions as % of GDP |
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| −8.046028** (−2.17) |
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Profit tax |
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| −1.803657* (−1.84) |
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Unemployment |
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| −6.59467* (−1.96) |
Constant | 24.31297 (0.83) | 145.7806*** (6.59) | 97.99344*** (3.07) | 96.55731* (1.85) | −281.706** (−2.15) | −34.30017 (−0.86) | 94.22128*** (3.96) | 348.5984*** (4.98) | 201.8612*** (5.74) | 211.5051*** (4.50) | 187.0969*** (5.78) |
Observations | 19 | 19 | 19 | 19 | 19 | 19 | 18 | 19 | 18 | 19 | 19 |
Adjusted R-squared | 0.4127 | −0.0018 | −0.0008 | −0.0364 | 0.3290 | 0.4734 | 0.1021 | 0.3375 | 0.1784 | 0.1171 | 0.1365 |