Variables

Southern Africa

OPEN1

OPEN2

OPEN3

OPEN4

OPEN’

−0.468**

−0.974***

0.695***

−0.153**

(0.187)

(0.127)

(0.121)

(0.0610)

InGFCF

0.919***

0.990***

0.652***

0.919***

(0.104)

(0.0866)

(0.0924)

(0.104)

InLF

−0.240***

−0.324***

−0.108***

−0.240***

(0.0406)

(0.0343)

(0.0327)

(0.0406)

InEXC

0.0153

0.00751

0.0380**

0.0153

(0.0172)

(0.0150)

(0.0159)

(0.0172)

InFD

0.894***

0.843***

0.866***

0.894***

(0.0542)

(0.0485)

(0.0510)

(0.0542)

InFDI

−0.545***

−0.419***

−0.518***

−0.545***

(0.0740)

(0.0678)

(0.0693)

(0.0740)

InCPI

0.186

0.157

0.0736

0.186

(0.116)

(0.103)

(0.110)

(0.116)

Constant

8.065***

10.78***

2.797***

5.993***

(1.292)

(0.974)

(0.867)

(0.806)

Observations

190

190

190

190

R-squared

0.722

0.783

0.757

0.722

F statistics

67.63

93.63

80.91

80.91