Model | SAR | SDM | SAC | ||

Pooled | Within | Pooled | Within | Pooled | |

Original Model | |||||

Economic growth rate (t − 1) | 0.187* | 0.214** | 0.037 | 0.046 | 0.0390 |

Log Trade Openness (t) | −0.056 | −0.0630 | −0.126** | −0.168*** | −0.128** |

Log Trade Openness square (t) | 0.004 | 0.0060 | 0.016 | 0.023* | 0.017 |

Log Trade Openness (t − 1) | 0.031 | 0.0230 | 0.029 | 0.023 | 0.029 |

Human Capital Index (t) | 0.611*** | 0.616*** | 2.444*** | 2.39*** | 2.446*** |

Human Capital index (t − 1) | −0.605*** | −0.624*** | −2.384*** | −2.371*** | −2.386*** |

Log Government spending to GDP (t) | −0.057 | −0.0090 | −0.013 | −0.075* | −0.016 |

Log Households Spending to GDP (t) | −0.019 | −0.0110 | 0.093*** | 0.065*** | 0.094*** |

Intercept | 0 | 0.1190 | |||

Model with Spatial Effects | |||||

Economic growth rate (t − 1) | 0.164** | 0.000 | |||

Log Trade Openness (t) | 0.131* | 0.152** | |||

Log Trade Openness squared (t) | −0.014 | 0.167*** | |||

Log Trade Openness (t − 1) | −0.031 | −0.021 | |||

Human Capital Index (t) | −2.49*** | −0.025 | |||

Human Capital index (t − 1) | 2.427*** | −2.442*** | |||

Log Government spending to GDP (t) | 0.03 | 2.417*** | |||

Log Households Spending to GDP (t) | −0.078** | 0.079* | |||

Validation Indicators | |||||

Spatial Correlation | |||||

Rho (ρ) | −0.629*** | −0.596*** | 0.401*** | 0.395*** | −59505 |

Lambda (λ) | 0.991*** | ||||

Spatial Variance | |||||

lgt_theta (log θ) | 0 | 0.9470 | 14274 | 0.000 | |

Sigma (σ) squared_e | 0.009*** | 0.009*** | 0.001*** | 0.001*** | 0.001*** |

R-squared | 27.15% | 23.56% | 22% | 64.36% | 8.99% |

Hausman Test | −1.320 | 1.420 | 1 |