| W.AFRICA S_P | S.AFRICA S_P | N.AFRICA S_P |
Bmg | 0.585*** | 0.511** | 0.614 |
| (0.226) | (0.212) | (0.431) |
Infl | −0.272 | −0.657 | −0.022 |
| (0.360) | (2.139) | (0.556) |
Exch | 0.005 | −0.000 | −0.088 |
| (0.017) | (0.000) | (0.096) |
Real_int | −0.844** | 0.136 | −0.855 |
| (0.345) | (0.250) | (0.780) |
Cbol | 0.000 | −0.000 | 0.000 |
| (0.000) | (0.000) | (0.000) |
_cons | 5.452 | 11.709 | 5.269 |
| (10.960) | (15.645) | (8.475) |
Obs. | 81 | 107 | 108 |
R-squared | 0.1310 | 0.0827 | 0.0419 |