Dependent variable: Log TFP | ||||
Independent variables | Percentage of GDP | Per capita | ||
All | Latin America | All | Latin America | |
Log (public consumption): LG | −2.117895* | −0.300467 | −0.78601* | −0.108824 |
[−7.87052] | [−5.95696] | |||
Log (public investment): LIG | 0.698088* | 0.13285 | 0.251655** | 0.120606 |
[3.62107] | [2.22520] | |||
Log (imports): LM | 0.088724 | 0.164454 | 0.291973* | 0.212975 |
[0.81718] | [5.00668] | |||
DUM_REG*LGPIB | 1.817428* | 0.677186* | ||
[4.34998] | [3.57364] | |||
DUM_REG*LIGPIB | −0.565238** | −0.131049 | ||
[−2.28820] | [−0.96222] | |||
DUM_REG*LMPIB | 0.07573 | −0.078998 | ||
[0.29319] | [−0.58597] | |||
Trend (initial year 1960) | 0.002442 | −0.019561 | 0.01046** | −0.025087 |
[0.35622] | [2.48781] | |||
DUM_REG*TIEMPO | −0.022003*** | −0.035547* | ||
[−1.87463] | [−5.14054] | |||
Determinant resid covariance (dof adj.) | 4.25E−77 | 6.83E−76 | ||
Determinant resid covariance | 3.82E−77 | 6.14E−76 | ||
Log likelihood | 65475.2 | 65196.25 | ||
Akaike information criterion | −154.1892 | −153.5312 | ||
Schwarz criterion | −153.6354 | −152.9775 | ||
Adjustment Coefficients | ||||
alpha 1 | −0.008084** | −0.034519* | ||
[−2.27783] | [−5.77802] | |||
alpha 2 | −0.016294* | −0.019104* | ||
[−6.52661] | [−4.03264] | |||
alpha 3 | 0.006071 | 0.011845 | ||
[1.25733] | [1.35129] | |||
alpha 4 | 0.015041* | 0.023532** | ||
[3.44586] | [2.58058] |