Dependent variable: Log TFP

Independent variable:

A. Percentage of GDP

B. Per capita

Log (public consumption): LG

−0.72642*

[−4.22412]

−0.814318*

[−5.19468]

Log (public investment): LIG

0.203577***

[1.71819]

0.546306*

[4.26199]

Log (imports): LM

−0.016385

[−0.18674]

0.14147****

[1.39349]

Trend (initial year 1960)

−0.00017

[−0.37265]

−0.000915

[−2.25671]**

Constant

6.102227

6.205452

Determinant resid covariance (dof adj.)

3.97E−09

4.25E−09

Determinant resid covariance

3.85E−09

4.13E−09

Log likelihood

3189.309

3161.951

Akaike information criterion

−7.950462

−7.881638

Schwarz criterion

−7.779805

−7.710981

Adjustment coefficients

alpha 1

−0.02964*

[−6.30310]

−0.019958*

[−5.43227]

alpha 2

−0.00677

[−1.39669]

−0.020189*

[−5.43967]

alpha 3

0.020548***

[1.85256]

0.012336

[1.34119]

alpha 4

0.001967

[0.21192]

−0.00419

[−0.48932]