| Variable | Coefficient | Std. Error | t-Statistic | Prob.* |
| Logdp/capita | 3.25E−05 | 9.73E−05 | 0.333381 | 0.7403 |
| Trade | 0.000295 | 4.96E−05 | 5.943882 | 0 |
| Gfcf | −0.000203 | 0.000348 | −0.585235 | 0.5611 |
| Pop | 0.022543 | 0.011172 | 2.01781 | 0.0491 |
| df | −0.006421 | 0.002635 | −2.436719 | 0.0185 |
| Infl | 9.97E−05 | 2.54E−05 | 3.931391 | 0.0003 |
| df*ins | 0.003656 | 0.001672 | 2.186203 | 0.0336 |