VARIABLES

Hirshman Diversification Index

Relative share of employment in the industrial sector

Relative share of employment in the services sector

Lagged dependent variable

0.101***

0.054***

0.072***

(0.0474)

(0.0218)

(0.0363)

Structural transformation indicators

0.177*

0.104**

0.0836*

(0.0803)

(0.0501)

(0.0382)

Constant

0.659**

0.192*

1.008

(0.393)

(0.076)

(0.667)

Observations

1015

823

836

Number of countries

46

46

46

Wald chi²

27.81

22.81

36.18

Prob > chi²

0.001

0.000

0.000

Number of instruments

41

40

40

Sargan p-value

0.33

0.30

0.31

AR1 p-value

0.001

0.013

0.002

AR2 p-value

0.510

0.305

0.157