Dependent variable: Log TFP

Independent variable:

A. Percentage of GDP

B. Per capita

Log (public consumption): LG

−0.690066*

[−4.19086]

−0.593109*

[−3.75748]

Log (public investment): LIG

0.147636

[1.44583]****

0.280652**

[2.39343]

Log (imports): LM

0.020417

[0.25688]

0.173842***

[1.93741]

Trend (initial year 1960)

−0.000148

[−0.38153]

−0.000383

[−1.05744]

Constant

5.960275

5.778675

Determinant resid covariance (dof adj.)

4.08E−09

3.89E−09

Determinant resid covariance

3.97E−09

3.71E−09

Log likelihood

3389.438

3353.193

Akaike information criterion

−7.925562

−7.952387

Schwarz criterion

−7.763365

−7.696891

Adjustment coefficients

alpha 1

−0.032384*

[−6.92493]

−0.025891*

[−6.59271]

alpha 2

−0.004961

[−1.03658]

−0.020946*

[−5.35026]

alpha 3

0.017037

[1.59783]

−0.002611

[−0.27082]

alpha 4

−0.000177

[−0.01920]

−0.018276**

[−2.01146]