Model

TER

SEC

PRI

TER_HEA

SEC_HEA

PRI_HEA

(1)

(2)

(3)

(4)

(5)

(6)

Lagged GDP per capita

0.6459***

0.7000***

0.7622***

0.6494***

0.7032***

0.7620***

(0.0774)

(0.0390)

(0.0363)

(0.0771)

(0.0397)

(0.0405)

Inflation

−0.0012

−0.0017**

−0.0003**

−0.0012

−0.0025**

−0.0015

(0.0028)

(0.0008)

(0.0001)

(0.0028)

(0.0011)

(0.0014)

Population growth

0.0483

0.0121

0.0077

0.0468

0.0141

0.0093

(0.0466)

(0.0171)

(0.0111)

(0.0471)

(0.0180)

(0.0115)

FDI Inflows

0.0117

0.0061

−0.0028

0.0109

0.0062

−0.0007

(0.0089)

(0.0104)

(0.0101)

(0.0089)

(0.0104)

(0.0096)

Private domestic investment

0.0730***

0.1023***

0.0904**

0.0757***

0.1006***

0.0880**

(0.0249)

(0.0378)

(0.0368)

(0.0235)

(0.0348)

(0.0356)

Openness

−0.0179

−0.2322**

−0.0170

−0.0210

−0.2159**

−0.0050

(0.0584)

(0.1085)

(0.0887)

(0.0564)

(0.1035)

(0.0898)

Health expenditure

−0.0083

0.0013

0.1072

−0.0101

−0.0102

0.1038

(0.0982)

(0.0763)

(0.0909)

(0.0957)

(0.0792)

(0.0887)

Tertiary Enrolment (5 lags)

0.1118**

0.1526*

(0.0477)

(0.0842)

Secondary Enrolment (5 lags)

0.2403***

0.2039**

(0.0653)

(0.0817)

Primary Enrolment (5 lags)

0.1315

0.1196

(0.1112)

(0.1029)

Tertiary × Health (5 lags)

−0.0224

(0.0370)

Secondary × Health (5 lags)

0.0060

(0.0185)

Primary × Health (5 lags)

0.0033

(0.0102)

Observations

149

184

280

149

182

277

Countries

30

32

35

30

31

34