| Panel Data (FE) | |||
Model 1 | Model 2 | |||
Normal | Arellano | Normal | Arellano | |
Physical Capital | 0.4583*** (0.000) | 0.4583*** (0.000) | 0.4735*** (0.000) | 0.4735*** (0.000) |
Human Capital | 0.4045*** (0.000) | 0.4045*** (0.000) | 0.3744*** (0.000) | 0.3744*** (0.000) |
Unemployment | −0.0766*** (0.004) | −0.0766** (0.037) | −0.0790*** (0.003) | −0.0790** (0.028) |
Investment | 0.0464*** (0.000) | 0.0464*** (0.002) | 0.0476*** (0.000) | 0.0476*** (0.000) |
Corruption 1 | −0.0510* (0.093) | −0.0510 (0.109) |
|
|
Corruption 2 |
|
| −0.0274** (0.014) | −0.0274* (0.066) |
R-Squared | 0.7896 | 0.7896 | 0.7927 | 0.7927 |
Adj. R-Squared | 0.7587 | 0.7587 | 0.7622 | 0.7622 |