Model

Tertiary

Secondary

Primary

TER_HEA

SEC_HEA

PRI_HEA

(1)

(2)

(3)

(4)

(5)

(6)

Lagged GDP per capita

0.6369***

0.6624***

0.7831***

0.6369***

0.6566***

0.7842***

(0.0571)

(0.0674)

(0.0360)

(0.0540)

(0.0683)

(0.0363)

Inflation

0.0006

0.0006

−0.0002

0.0005

0.0006

−0.0002

(0.0004)

(0.0007)

(0.0004)

(0.0004)

(0.0007)

(0.0004)

FDI Inflows

0.0023

−0.0275***

−0.0117*

0.0021

−0.0285***

−0.0120*

(0.0076)

(0.0079)

(0.0064)

(0.0079)

(0.0084)

(0.0066)

Private Domestic Investment

0.1240***

0.0988***

0.1063***

0.1236***

0.0983**

0.1060***

(0.0415)

(0.0383)

(0.0323)

(0.0417)

(0.0385)

(0.0322)

Population Growth

−0.0052

−0.0298*

−0.0276*

−0.0040

−0.0305*

−0.0279*

(0.0096)

(0.0161)

(0.0150)

(0.0094)

(0.0163)

(0.0152)

Openness

−0.1273

−0.2478*

−0.1182

−0.1273

−0.2415

−0.1187

(0.0946)

(0.1458)

(0.1020)

(0.0928)

(0.1474)

(0.1024)

Health Expenditure

−0.0584

0.0471

−0.0015

−0.0935

−0.2173

−0.3025

(0.0965)

(0.1108)

(0.0823)

(0.0965)

(0.4518)

(0.9678)

Tertiary Enrolment

0.1434***

0.0839

(0.0486)

(0.1308)

Secondary Enrolment

0.4156***

0.2796

(0.1511)

(0.2615)

Primary Enrolment

0.2914**

0.1901

(0.1382)

(0.3849)

Tertiary × Health

0.0378

(0.0816)

Secondary × Health

0.0815

(0.1383)

Primary × Health

0.0648

(0.2120)

Observations

206

227

343

206

227

343

Countries

32

31

35

32

31

35

First order serial correlation (p-value)

0.0095

0.0169

0.0072

0.0095

0.0146

0.0075

Second order serial correlation (p-value)

0.9108

0.3035

0.4997

0.8284

0.2158

0.5089