Table 6 - Estimations for Fitch
|
________Pooled OLS_______ |
Random Effects |
Fixed Effects | ||||
|
(1) |
(2) |
(3) |
(4) |
(5) |
(6) | |
|
Constant |
3.477*** |
3.238*** |
4.409 |
7.179*** |
10.918*** |
11.055*** |
|
(2.97) |
(3.12) |
(1.19) |
(13.16) |
(100.38) |
(183.16) | |
|
GDP per capita |
1.670*** |
1.752*** |
1.697*** |
1.667*** |
1.743*** |
1.820*** |
|
(5.54) |
(6.13) |
(8.83) |
(9.51) |
(9.31) |
(10.87) | |
|
GDP per capita Avg. |
0.562*** |
0.604*** |
0.375 | |||
|
(3.93) |
(4.64) |
(0.87) | ||||
|
GDP growth |
3.468 |
3.385 |
4.110* |
3.277 | ||
|
(1.10) |
(1.39) |
(1.74) |
(1.36) | |||
|
GDP growth Avg. |
0.659 |
3.220 | ||||
|
(0.14) |
(0.26) | |||||
|
Unemployment |
-0.024 |
0.017 |
0.019 | |||
|
(-0.74) |
(0.61) |
(0.64) | ||||
|
Unemployment Avg. |
0.013 |
0.027 | ||||
|
(0.76) |
(0.50) | |||||
|
Inflation |
-0.424*** |
-0.421*** |
-0.107 |
-0.088 |
-0.127*** | |
|
(-3.41) |
(-3.09) |
(-1.24) |
(-0.98) |
(-1.61) | ||
|
Inflation Avg. |
-0.478*** |
-0.464*** |
-0.150 | |||
|
(-3.38) |
(-3.21) |
(-0.66) | ||||
|
Gov Debt |
-0.024*** |
-0.026*** |
-0.022*** |
-0.027*** |
-0.020*** |
-0.023*** |
|
(-3.75) |
(-5.18) |
(-3.82) |
(-7.30) |
(-3.19) |
(-5.51) | |
|
Gov Debt Avg. |
-0.007** |
-0.006* |
-0.007 | |||
|
(-2.15) |
(-1.92) |
(-0.69) | ||||
|
Gov Balance |
0.310 |
4.371 |
4.872 |
4.381* | ||
|
(0.08) |
(1.37) |
(1.53) |
(1.78) | |||
|
Gov Balance Avg. |
9.084*** |
8.223*** |
5.220 | |||
|
(2.94) |
(2.86) |
(0.69) | ||||
|
Gov Effectiveness |
0.715** |
0.869*** |
0.787*** |
0.887*** |
0.807*** |
0.953*** |
|
(2.44) |
(3.22) |
(4.54) |
(5.34) |
(4.69) |
(5.96) | |
|
Gov Effectiveness Avg. |
1.966*** |
1.960*** |
2.155*** |
2.741*** | ||
|
(12.33) |
(12.55) |
(4.23) |
(7.47) | |||
|
External Debt |
-0.007*** |
-0.006*** |
-0.005*** |
-0.005*** |
-0.005*** |
-0.005*** |
|
(-3.17) |
(-2.83) |
(-2.97) |
(-2.76) |
(-2.83) |
(-3.06) | |
|
External Debt Avg. |
-0.010*** |
-0.010*** |
-0.010** |
-0.011*** | ||
|
(-7.12) |
(-7.12) |
(-2.53) |
(-3.34) | |||
|
Current Account |
-3.591 |
-3.137 |
-3.176 | |||
|
(-1.44) |
(-1.16) |
(-1.10) | ||||
|
Current Account Avg. |
0.545 |
2.955 | ||||
|
(0.32) |
(0.63) | |||||
|
Reserves |
0.804 |
-0.100 |
-0.197 | |||
|
(1.34) |
(-0.23) |
(-0.45) | ||||
|
Reserves Avg. |
2.854*** |
2.886*** |
3.090*** |
2.987*** | ||
|
(6.74) |
(6.80) |
(3.59) |
(3.78) | |||
|
Def 1 |
-1.243*** |
-1.257*** |
-1.523*** |
-1.331*** |
-1.501*** |
-1.329*** |
|
(-4.26) |
(-6.32) |
(-4.13) |
(-4.60) |
(-3.92) |
(-3.92) | |
|
Def 2 |
-0.011 |
0.075 |
0.093 | |||
|
(-0.31) |
(1.15) |
(1.08) | ||||
|
EU |
1.063*** |
1.029*** |
0.507** |
0.554** |
0.305 | |
|
(5.57) |
(5.64) |
(2.03) |
(2.40) |
(1.14) | ||
|
IND |
2.246*** |
2.119*** |
2.781*** |
2.634*** | ||
|
(5.90) |
(6.19) |
(2.61) |
(3.55) | |||
|
LAC |
-0.627*** |
-0.738*** |
-0.718 | |||
|
(-3.41) |
(-4.19) |
(-1.29) | ||||
|
R2 |
0.950 |
0.950 |
0.947 |
0.944 |
0.987 |
0.987 |
|
Countries |
58 |
58 |
58 |
58 |
58 |
58 |
|
Observations |
481 |
481 |
480 |
481 |
480 |
481 |
|
Hausman Test $ |
12.68 (0.473) |
3.68 (0.816) | ||||
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 7 degrees of freedom respectively (the number of time-varying regressors).
The p-value is in brackets.
38
More intriguing information
1. Design and investigation of scalable multicast recursive protocols for wired and wireless ad hoc networks2. The name is absent
3. The name is absent
4. Inhimillinen pääoma ja palkat Suomessa: Paluu perusmalliin
5. Government spending composition, technical change and wage inequality
6. Delayed Manifestation of T ransurethral Syndrome as a Complication of T ransurethral Prostatic Resection
7. Estimating the Impact of Medication on Diabetics' Diet and Lifestyle Choices
8. The name is absent
9. Clinical Teaching and OSCE in Pediatrics
10. The name is absent