2007-2013

2007-2017

High

Fast

High & Fast

High

Fast

High & Fast

xg

−2364.82**

−1641.72*

−3822.88*

−91.37

−1066.80*

−1022.48

(978.91)

(882.06)

(1903.67)

(464.70)

(556.43)

(1014.08)

pop

−54.85**

−48.71**

−64.92

−11.58

−38.89**

−32.41

(23.81)

(22.13)

(42.65)

(10.06)

(18.91)

(33.02)

pergdp

−0.13***

−0.11***

−0.11**

−0.13***

−0.09***

−0.15***

(0.02)

(0.03)

(0.04)

(0.02)

(0.03)

(0.03)

tge

−21.46

−31.41**

−3.99

−21.20*

−21.56*

−25.44

(15.70)

(14.81)

(23.09)

(12.01)

(11.40)

(20.12)

open

290.69**

163.93

−133.30

−69.90

39.17

179.34

(122.28)

(142.84)

(493.24)

(84.76)

(83.99)

(178.91)

inv

15.64***

6.30

13.44

17.23***

7.35

10.61

(5.13)

(5.97)

(8.94)

(4.35)

(4.55)

(9.60)

reiinv

40.04

−29.16

31.36

123.28

12.69

69.46

(104.18)

(40.67)

(168.67)

(75.15)

(36.73)

(135.58)

prop

−49.54

−32.78**

−72.29

−53.53

5.21

−85.14

(85.70)

(13.95)

(176.44)

(33.20)

(9.94)

(95.14)

db

−3.74***

−2.43*

−4.89*

−0.36

0.25

0.67

(1.09)

(1.19)

(2.18)

(0.94)

(0.74)

(1.41)

dr

−508.75

569.36

−923.60

2150.31***

1006.88***

1480.85

(1123.87)

(730.57)

(3346.27)

(559.92)

(268.21)

(1077.74)

trs

25.40***

17.11***

33.95**

1.54

−1.37

−3.73

(5.12)

(5.74)

(12.47)

(4.54)

(2.69)

(5.58)

perdi

0.41**

0.42**

0.64**

0.22*

0.11

0.23

(0.18)

(0.19)

(0.22)

(0.11)

(0.08)

(0.16)

rchpir

145.16

69.52

86.01

96.42

148.28

383.92

(234.92)

(269.34)

(297.89)

(192.60)

(164.47)

(269.96)

m2gr

157.09

85.90

445.04

238.44

−0.29

−211.17

(249.05)

(173.59)

(490.91)

(189.48)

(74.90)

(371.93)

ggr

180.25

344.52

763.51

274.72

25.26

342.90

(499.62)

(236.47)

(1226.02)

(333.19)

(179.93)

(622.03)

cpi

699.46**

6.30

938.40

−258.33

−147.31

−687.78

(327.81)

(134.00)

(800.77)

(255.55)

(129.78)

(406.45)

cci

223.1

−208.55

51.38

−506.49**

−204.40*

−609.44*

(272.97)

(180.37)

(829.11)

(207.56)

(100.87)

(309.41)

cei

−1.10

190.31

56.19

483.11**

197.14*

628.97**

(186.00)

(119.99)

(467.93)

(191.19)

(101.56)

(243.92)