Dep: GDP growth | (25) Control of corruption (Concor) | (26) Government effectiveness (Goveff) | (27) Political stability (Politic) | (28) Regulatory quality (Requa) | (29) Rule of Law (Rulelaw) | (30) Voice & Accountability (Voice) |
L1. GDPg | 0.2486*** [0.0462] | 0.2625*** [0.0423] | 0.2226*** [0.0479] | 0.2010*** [0.0526] | 0.2291*** [0.0462] | 0.2419 [0.0449] |
Loggdppc | −0.8526* [0.4963] | −1.4012*** [0.4439] | −1.1187* [0.5744] | −1.5300*** [0.3998] | −1.0924*** [0.3331] | −1.3661 [0.4123] |
Capg | 0.2410*** [0.0106] | 0.2400*** [0.0097] | 0.2550*** [0.0106] | 0.2523*** [0.0142] | 0.2423*** [0.0108] | 0.2518 [0.0132] |
Tech | 0.1934*** [0.0639] | 0.1567*** [0.0521] | 0.2751*** [0.0920] | 0.2291*** [0.0820] | 0.1759** [0.0644] | 0.1782 [0.0963] |
Humcap | 0.0667 [0.7282] | 0.5417 [0.5589] | 0.3392 [0.9711] | 1.0353* [0.5431] | 0.4188 [0.4742] | 0.8041 [0.4948] |
Popg | 0.4079** [0.1956] | 0.2195** [0.0859] | 0.2443 [0.1887] | 0.4187* [0.2359] | 0.4895* [0.2435] | 0.4360 [0.2466] |
FDI | 2.1709** [0.8703] | 3.4587** [1.2694] | 1.6079 [1.0958] | 2.8189*** [0.9326] | 2.1747*** [0.6599] | 3.0573 [1.3057] |
Trade | 1.6511*** [0.3780] | 2.3589*** [0.4328] | 1.8513*** [0.5957] | 2.1147*** [0.5443] | 1.8476*** [0.3168] | 1.9541 [0.6773] |
Inst | 19.2223 [14.3523] | 10.8902* [6.3954] | 3.6832 [8.2781] | 2.4483 [3.6222] | 10.8101 [7.0245] | 5.0460 [4.4149] |
Trade*Fdi | −0.4749** [0.1886] | −0.7678* [0.2737] | −0.3812 [0.2574] | −0.6377*** [0.1961] | −0.4807*** [0.1378] | −0.6559 [0.2862] |
Inst*Trade | −4.5542 [3.4630] | −2.3409 [1.4330] | −0.8113 [1.9992] | −0.5867 [0.8620] | −2.2846 [1.4802] | −0.9764 [1.0487] |
Inst*Fdi | −3.9483* [2.2542] | −4.2323*** [1.2988] | −2.6174** [1.2795] | −1.1435 [0.8396] | −3.6231* [2.0299] | −3.6142 [1.4751] |
Inst*Trade*Fdi | 0.9398* [0.5107] | 0.9615*** [0.2878] | 0.6174* [0.3140] | 0.2981* [0.1748] | 0.7888* [0.4072] | 0.7680 [0.3082] |
N | 261 | 261 | 260 | 233 | 261 | 261 |
No. of Group | 29 | 29 | 29 | 29 | 29 | 29 |
No. of IVs | 33 | 33 | 33 | 31 | 33 | 31 |
AR(2) test | 0.422 | 0.652 | 0.679 | 0.911 | 0.652 | 0.542 |
Sargan test | 0.335 | 0.319 | 0.452 | 0.142 | 0.233 | 0.805 |
Hansen test | 0.817 | 0.873 | 0.740 | 0.820 | 0.835 | 0.944 |