20
GALSTYAN AND LANE
Table 4: Relative Sectoral Productivity Levels
|
(1) |
(2) |
(3) |
(4) |
(5) |
(6) | |
|
GDP per capita |
-0.92 |
-1.21 |
-0.89 |
-1.02 |
-0.97 |
-1.05 |
|
(.06)*** |
(.13)*** |
(.07)*** |
(.07)*** |
(.11)*** |
(.08)*** | |
|
Govt. Investment |
3.38 |
-2.31 |
3.94 |
3.26 |
-1.15 |
5.44 |
|
(1.39)** |
(2.76) |
(1.64)** |
(1.31)** |
(2.25) |
(1.40)*** | |
|
R2 |
0.87 |
0.87 |
0.88 |
0.89 |
0.85 |
0.91 |
|
Marginal R2 |
0.72 |
0.81 |
0.70 |
0.79 |
0.79 |
0.80 |
|
Observations |
418 |
66 |
352 |
242 |
88 |
154 |
|
Sample |
All |
G3 |
Non-G3 |
EMU |
E4 |
Non-E4 |
Note: GDP per capita is the log of real GDP per capita; Govt. Investment is government
investments as a share of GDP.
Marginal R2 is constructed by subtracting the ratio of the residual sum of squares of fixed
effects regression with the set of control variables over the residual sum of square of the
regression on the fixed effects only from one.
***,**,* significant at 1,5 and 10 percent respectively.