Variables

Main regression

Robustness checks

OPEN1

OPEN2

OPEN3

OPEN4

OPEN1

OPEN2

OPEN3

OPEN4

L. InGDPPC

0.852***

0.836***

0.883***

0.883***

0.852***

0.836***

0.883***

0.883***

(0.026)

(0.034)

(0.034)

(0.034)

(0.076)

(0.097)

(0.077)

(0.077)

OPEN’

0.064**

−0.089***

0.0733**

0.0458**

0.0649

−0.0890

0.0733

0.0458

(0.026)

(0.030)

(0.0286)

(0.017)

(0.060)

(0.080)

(0.063)

(0.039)

InGFCF

0.106***

0.151***

0.088***

0.088***

0.106***

0.151**

0.088***

0.088***

(0.015)

(0.024)

(0.013)

(0.013)

(0.037)

(0.061)

(0.028)

(0.028)

lnLAB

−0.025***

−0.046***

−0.015*

−0.015*

−0.025

−0.046

−0.015

−0.015

(0.008)

(0.0115)

(0.007)

(0.007)

(0.0207)

(0.037)

(0.016)

(0.016)

InEXC

−0.007

−0.0170**

−0.005

−0.005

−0.007

−0.017

−0.005

−0.005

(0.007)

(0.007)

(0.006)

(0.006)

(0.012)

(0.015)

(0.009)

(0.009)

InFD

0.0251*

0.0422***

0.0119

0.0119

0.0251

0.0422

0.0119

0.0119

(0.0137)

(0.013)

(0.011)

(0.011)

(0.030)

(0.042)

(0.024)

(0.024)

InFDI

−0.044***

−0.018*

−0.036***

−0.036***

−0.044*

−0.018

−0.036**

−0.036**

(0.007)

(0.009)

(0.006)

(0.006)

(0.024)

(0.022)

(0.018)

(0.018)

InCPI

−0.0281

−0.0350

−0.0176

−0.0176

−0.0281

−0.0350

−0.0176

−0.0176

(0.053)

(0.045)

(0.047)

(0.047)

(0.101)

(0.098)

(0.0698)

(0.069)

Constant

1.147***

1.748***

0.613*

0.854**

1.147

1.748

0.613

0.854

(0.353)

(0.473)

(0.327)

(0.387)

(0.802)

(1.243)

(0.596)

(0.756)

Year dummies

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Observations

936

936

936

936

936

936

936

936

Number of Country

52

52

52

52

52

52

52

52

Instruments/Groups

45/52

45/52

45/52

45/52

45/52

45/52

45/52

45/52

AR(1)

0.004

0.004

0.004

0.004

0.005

0.006

0.005

0.005

AR(2)

0.851

0.958

0.823

0.823

0.851

0.959

0.823

0.823

Sargan test

0.120

0.008

0.109

0.109

0.120

0.008

0.109

0.109

Hansen test

0.119

0.113

0.169

0.169

0.119

0.113

0.169

0.169