| 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 |
||