Dep.var. SPREAD

reg3

reg4

reg5

reg6

Constant

96.0751***

84.5886***

79.1864***

91.4262***

(12.7284)

(10.2745)

(10.3788)

(9.7267)

ln (GDP per capita)

−6.4098***

−5.8241***

−6.5793***

−5.8745***

(0.9561)

(0.9517)

(0.9074)

(0.9648)

Exchange rate

−1.3481

−0.9517

−7.4817

0.0834

(6.1331)

(5.4524)

(6.4036)

(5.2797)

Interest rate

0.6452**

0.6544**

0.6462**

0.6489**

(0.2273)

(0.2184)

(0.2293)

(0.2175)

COVID

−9.1703**

−8.5446**

−8.7923**

−8.7014**

(3.5075)

(3.5432)

(3.4118)

(3.5481)

Economic freedom

−4.2458**

(1.8441)

Sound money

−2.6890**

−2.6485**

(0.9468)

(0.9109)

Regulation

−1.3321

−1.0712

(1.1265)

(1.1005)

sigma_u

7.6345703

6.4071254

8.6100247

0.6539

sigma_e

6.5825307

6.4508106

6.6509587

0.6587

rho

0.5735952

0.49660251

0.6262898

0.6472

R-squared

within

0.6381

0.6525

0.6306

6.0257358

between

0.4500

0.6172

0.3462

6.4535966

overall

0.5390

0.6263

0.4879

0.4657547

N

213

213

213

213