Overall

Central Africa

East Africa

Variables

Coefficient

Std. Error

Coefficient

Std. Error

Coefficient

Std. Error

Long-run coefficients

lnInfrastQual

0.884***

(0.19)

0.454

(0.33)

0.934***

(0.20)

lnNRE

−0.591

(0.54)

−2.097***

(0.76)

−0.428

(0.57)

lnMktSize

2.321***

(0.41)

−1.227

(0.76)

2.850***

(0.45)

lnTradeOpen

1.273*

(0.72)

2.585**

(1.21)

1.25

(0.76)

Error-correction Coeff.

−0.715***

(0.13)

−0.708*

(0.40)

−0.974***

(0.07)

Short-run coefficients

∆lnInfrastQual

−0.767**

(0.34)

−1.414***

(0.37)

−0.277

(0.34)

∆lnNRE

−1.034

(2.15)

−1.829

(4.46)

0.515

(0.89)

∆lnMktSize

0.0291

(1.16)

1.957

(1.40)

−0.0784

(1.90)

∆lnTradeOpen

3.645

(4.23)

6.076

(8.78)

0.681

(1.82)

Intercept

39.38

(50.19)

−26.09

(61.13)

84.74

(59.39)

Country

6

3

3

Observation

168

84

84