Variables

Central Africa

Eastern Africa

OPEN1

OPEN2

OPEN3

OPEN4

OPEN1

OPEN2

OPEN3

OPEN4

OPEN’

0.991***

−0.915***

1.329***

0.877***

−0.133

−0.822***

0.354***

−0.0833

(0.262)

(0.261)

(0.131)

(0.0861)

(0.137)

(0.146)

(0.0797)

(0.0857)

InGFCF

0.435**

1.310***

0.183

0.183

1.131***

1.277***

0.821***

1.131***

(0.197)

(0.188)

(0.140)

(0.140)

(0.124)

(0.112)

(0.123)

(0.124)

InLF

−0.484***

−0.607***

−0.314***

−0.314***

−0.321***

−0.408***

−0.256***

−0.321***

(0.0623)

(0.0541)

(0.0515)

(0.0515)

(0.0307)

(0.0299)

(0.0261)

(0.0307)

InEXC

0.634***

0.618***

0.240***

0.240***

−0.00724

−0.0403*

−0.00618

−0.00724

(0.0860)

(0.0886)

(0.0814)

(0.0814)

(0.0246)

(0.0236)

(0.0232)

(0.0246)

InFD

0.438***

0.171*

0.650***

0.650***

0.716***

0.870***

0.536***

0.716***

(0.109)

(0.102)

(0.0872)

(0.0872)

(0.0747)

(0.0683)

(0.0684)

(0.0747)

InFDI

−0.317***

−0.138

−0.154

−0.154

0.308*

0.578***

0.0146

0.308*

(0.119)

(0.124)

(0.0953)

(0.0953)

(0.160)

(0.149)

(0.149)

(0.160)

InCPI

1.466***

0.780**

1.320***

1.320***

−2.446***

−2.030***

−2.257***

−2.446***

(0.368)

(0.383)

(0.289)

(0.289)

(0.503)

(0.477)

(0.484)

(0.503)

Constant

−1.764

8.022***

−1.626

2.993*

16.70***

17.30***

15.41***

16.15***

(2.405)

(2.362)

(1.648)

(1.570)

(2.187)

(2.035)

(2.089)

(2.177)

Observations

152

152

152

152

228

228

228

228

R-squared

0.640

0.636

0.770

0.770

0.761

0.790

0.780

0.761

F statistics

36.62

35.87

68.91

68.91

100.00

118.18

111.18

111.18