The name is absent



Table 4 - Estimations for Moody’s

Pooled OLS                Random Effects                Fixed Effects

(1)

(2)

(3)

(4)

(5)

(6)

Constant

3.618***

3.934***

3.431

8.291

10.064***

9.952

(2.85)

(3.22)

(0.95)

(12.49)

(99.36)

(143.93)

GDP per capita

1.686***

1.607***

1.779***

1.789***

1.800***

1.876

(5.07)

(4.91)

(7.61)

(8.03)

(7.53)

(9.61)

GDP per capita Avg.

0.664***

0.631***

0.650

(4.11)

(3.92)

(1.46)

GDP growth

7.431***

9.044***

8.643***

8.768***

8.971***

5.909

(2.04)

(2.76)

(3.07)

(3.26)

(3.14)

(2.44)

GDP growth Avg.

0.527

5.237

(0.12)

(0.46)

Unemployment

-0.044

-0.069**

0.014

0.024

(-1.43)

(-2.34)

(0.52)

(0.87)

Unemployment Avg.

-0.049***

-0.051***

-0.072*

-0.073*

(-3.68)

(-3.67)

(-1.78)

(-1.70)

Inflation

-0.452***

-0.497***

-0.124*

-0.145**

-0.105**

-0.136

(-2.64)

(-2.95)

(-1.79)

(-2.11)

(-2.01)

(-2.66)

Inflation Avg.

-0.648***

-0.712****

-0.360*

-0.347**

(-3.55)

(-4.05)

(-1.84)

(-2.00)

Gov Debt

-0.008

-0.014**

-0.014**

-0.014**

-0.016***

-0.015

(-1.21)

(-2.40)

(-2.38)

(-2.53)

(-2.65)

(-3.54)

Gov Debt Avg.

-0.013***

-0.016***

-0.011

-0.014**

(-4.12)

(-4.81)

(-1.49)

(-2.24)

Gov Balance

6.995*

7.740***

6.991***

7.598***

6.056

(1.94)

(2.77)

(2.54)

(2.58)

(2.99)

Gov Balance Avg.

6.311*

6.122*

7.893

(1.80)

(1.67)

(0.80)

Gov Effectiveness

0.277

0.242

0.205

0.542

(0.88)

(1.18)

(0.98)

(2.90)

Gov Effectiveness Avg.

1.927***

1.756***

1.906***

2.470***

(10.89)

(9.78)

(4.06)

(6.80)

External Debt

-0.010***

-0.009***

-0.004*

-0.004*

-0.003

(-5.84)

(-5.60)

(-1.79)

(-1.95)

(-1.27)

External Debt Avg.

-0.007***

-0.006***

-0.004**

-0.004**

(-6.54)

(-5.82)

(-2.20)

(-2.47)

Current Account

-8.334***

-8.881***

-7.246***

-8.760***

-7.074***

-2.605

(-3.84)

(-4.27)

(-3.67)

(-4.84)

(-3.37)

(-1.96)

Current Account Avg.

-1.320

-3.321

(-0.77)

(-0.78)

Reserves

1.689***

1.891***

1.423**

1.710***

1.488***

1.132

(3.02)

(3.52)

(3.63)

(4.61)

(3.84)

(3.56)

Reserves Avg.

1.758***

1.788***

1.475

1.254

(3.85)

(4.03)

(1.60)

(1.43)

Def 1

-1.667***

-1.671***

-1.998***

-2.075***

-2.109***

-2.244

(-6.19)

(-6.72)

(-6.87)

(-8.11)

(-6.77)

(-7.71)

Def 2

0.065***

0.089***

-0.015

-0.049

(2.67)

(3.88)

(-0.32)

(-0.76)

EU (2)

1.220***

1.273***

1.598***

1.650***

1.704***

1.376

(6.97)

(7.22)

(6.63)

(6.69)

(6.84)

(6.51)

IND

2.176***

2.653***

2.289***

3.157***

(6.08)

(7.57)

(2.89)

(4.61)

LAC

-1.072***

-1.282***

-0.903*

(-5.44)

(-6.39)

(-1.93)

R2

0.950

0.948

0.945

0.940

0.984

0.980

Countries

66

66

66

66

66

78

Observations

551

557

551

557

551

699

Hausman Test$_________

21.93 (0.06)

14.30 (0.160)

Notes: White diagonal standard errors & covariance (d.f. corrected). The t statistics are in parentheses. *, **, *** - statistically significant at
the 10, 5, and 1 per cent. $ The null is that RE estimation is consistent and therefore preferable to fixed effects. The test statistic is to be
compared to a Qui-Square with 13 and 10 degrees of freedom respectively (the number of time-varying regressors). The p-value is in
brackets.

36



More intriguing information

1. A Consistent Nonparametric Test for Causality in Quantile
2. The name is absent
3. The name is absent
4. Testing Hypotheses in an I(2) Model with Applications to the Persistent Long Swings in the Dmk/$ Rate
5. Research Design, as Independent of Methods
6. Sector Switching: An Unexplored Dimension of Firm Dynamics in Developing Countries
7. A Dynamic Model of Conflict and Cooperation
8. Trade Liberalization, Firm Performance and Labour Market Outcomes in the Developing World: What Can We Learn from Micro-LevelData?
9. Epistemology and conceptual resources for the development of learning technologies
10. Weather Forecasting for Weather Derivatives