Dependent variable: Log TFP
Independent variables	GDP percentage		Per capita
Independent variables	All	Latin Am.	Asia	Latin Am.
Log (public spending): LG	−2.938516*	−0.275916	−1.235985*	−0.109866
Log (public spending): LG	[−8.53294]		[−7.03479]
Log (public investment): LIG	1.632265*	0.146014	0.484514*	0.1229
Log (public investment): LIG	[5.42014]		[3.28599]
Log (imports): LM	−0.217724****	0.168652	0.401786*	0.212018
Log (imports): LM	[−1.33729]		[5.38025]
DUM_REG*LGPIB	2.6626*		1.126119*
DUM_REG*LGPIB	[4.89859]		[4.59117]
DUM_REG*LIGPIB	−1.486251*		−0.361614**
DUM_REG*LIGPIB	[−4.16271]		[−2.05842]
DUM_REG*LMPIB	0.386376		−0.189768
DUM_REG*LMPIB	[1.21830]		[−1.11493]
Trend (year one: 1960)	0.010887	−0.020291	0.00795****	−0.02493
Trend (year one: 1960)	[1.18676]		[1.44271]
DUM_REG*TIEMPO	−0.031178**		−0.03288*
DUM_REG*TIEMPO	[−2.24810]		[−3.72004]
Determinant resid covariance (dof adj.)	3.20E−76		6.63E−76
Determinant resid covariance	2.86E−76		5.92E−76
Log likelihood	61757.35		60832.38
Akaike information criterion	−155.1154		−152.7884
Schwarz criterion	−154.5328		−152.2058
Adjustment coefficients
alpha 1	−0.003605		−0.017844*
alpha 1	[−1.33759]		[−3.72807]
alpha 2	−0.012951*		−0.014316*
alpha 2	[−6.87216]		[−3.71357]
alpha 3	0.009577**		0.011445
alpha 3	[2.55951]		[1.66943]
alpha 4	0.01129*		0.030135*
alpha 4	[3.60262]		[4.30811]