| 2000-2005 | 2006-2019 |
Variables | Coefficients | Coefficients |
TO | 0.123*** (2.61) | 0.006 (0.16) |
FBCF | 0.114* (1.86) | 0.241*** (4.80) |
POP | 2.23 (1.67) | 2.569 (1.78) |
Dummy | 2.7569* (1.65) | 0.104* (1.23) |
SB ≥ δ | 0.096** (1.94) | 0.121** (2.41) |
Constant | −13.205** (−2.23) | −8.221 (−1.98) |
Threshold | | |
IC (δ) | [−10.98; −10.89] | [−5.48; −5.98] |
R2 | 0.6880 | 0.5725 |
F-stat | 4.98 | 5.34 |
Number of countries | 15 | 15 |
Observations | 75 | 195 |