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. Staying on the Dole2. The name is absent
3. The name is absent
4. The name is absent
5. Policy Formulation, Implementation and Feedback in EU Merger Control
6. The name is absent
7. Magnetic Resonance Imaging in patients with ICDs and Pacemakers
8. APPLYING BIOSOLIDS: ISSUES FOR VIRGINIA AGRICULTURE
9. The name is absent
10. The name is absent