Dependent variable

Group

Constant

Coefficients of independent variables

R²

Sign. F

Real GDP (diff. from target value, rev.)

C

Gover. debt (rev.)

Unempl. (+1 lag; rev.)

FDI/GDP

Loans/GDP

HTBLFS

−1.79

−0.85

0.85

0.45

−2.44

0.77

0.012

LTBHFS

−

−

−

−

−

−

−

HTBHFS

36.86

2.35

−1.38

16.34

−40.18

0.74

0.019

LTBLFS

−0.57

−0.43

0.34

0.55

1.46

0.59

0.099*

Unemployment (rev.)

C

Real GDP growth

(−1 lag)

Tax burden

FDI/GDP

HTBLFS

0.92

−2.11

0.75

4.44

0.79

0.002

LTBHFS

−0.05

0.44

0.72

0.12

0.89

0.000

HTBHFS

1.23

0.62

0.62

2.47

0.74

0.006

LTBLFS

1.69

−2.32

0.31

−0.14

0.76

0.004

Budget deficit (rev.)

C

Tax burden

GDP

HTBLFS

−0.57

1.12

0.48

0.61

0.009

LTBHFS

−

−

−

−

−

HTBHFS

−3.06

5.12

0.41

0.47

0.040

LTBLFS

−0.28

0.67

0.57

0.43

0.062*

Bond yield (rev.)

C

Tax burden

Real GDP growth

Gover. debt (rev.)

HTBLFS

−3.06

4.24

0.22

2.27

0.72

0.007

LTBHFS

−2.08

3.80

0.08

1.05

0.54

0.061*

HTBHFS

−0.40

0.70

0.11

0.85

0.63

0.024

LTBLFS

0.51

0.70

0.17

0.48

0.52

0.077*