34
Table 4. Net foreign assets: cross-sectional regressions
(1) |
(2) |
(3) |
(4) |
(5) |
(6) | |
CUMCA |
CUMCA+IIP CUMCA |
CUMCA |
CUMFL |
CUMFL | ||
1990-98 |
1990-98 |
1990-98 |
1990-98 |
1990-98 |
1990-98 | |
Industrial |
Industrial |
Dev_____ |
Dev, no Sing Dev, no |
Sing Dev, no Sing | ||
Log GDP per capita |
0.45 (3.58)** |
0.54 (2.92)** |
0.18 (2.32)** |
0.17 (2.0)** |
0.15 (1.6) |
-1.87 (2.93)** |
Log GDP per capita |
0.13 (3.26)** | |||||
Public Debt |
0.10 |
-0.11 |
-0.44 |
-0.45 |
-0.65 |
-0.71 |
(0.7) |
(0.35) |
(4.52)** |
(4.47)** |
(5.18)** |
(6.55)** | |
χ2 (Demog.) |
3.05 |
2.21 |
35.3 |
33.6 |
36.7 |
1.35 |
(0.38) |
(0.53) |
(0.00)** |
(0.00)** |
(0.00)** |
(0.28) | |
Adjusted R2 |
0.45 |
0.33 |
0.62 |
0.57 |
0.63 |
0.69 |
Countries |
22 |
22 |
39 |
38 |
38 |
38 |
α (POP<15) |
-1.2 |
394.2 |
-489.2 |
-442.3 |
-276.9 |
-2.25 |
α (POP>64) |
-0.44 |
-1314.6 |
1527.8 |
1389.0 |
921.8 |
-0.04 |
α max |
0.62 |
424.3 |
1527.8 |
1389.0 |
921.8 |
1.24 |
(30-34) |
(15-19) |
(65+) |
(65+) |
(65+) |
(50-54) | |
α min |
-1.2 |
-1314.6 |
-511.9 |
-464.0 |
-298.1 |
-2.25 |
(0-14) |
(65+) |
(20-24) |
(20-24) |
(35-39) |
(0.14) |
* Ordinary least squares, heteroskedasticity-corrected !-statistics in parentheses (р-value for the χ2
(Demog.) statistic). * (**) indicates statistical significance at the 5% (1%) confidence level. In regressions
(1) the dependent variable is CUMCA for all countries except Belgium, for which it is the IIP estimate of
net foreign assets minus gold. In regression (2) the dependent variable is the IIP estimate of NFA for
Austria, Belgium, Canada, Finland, Germany, Italy, Japan, Netherlands, Spain, Sweden, Switzerland,
United Kingdom and United States and CUMCA for the remaining countries. Regressions (3)-(6) refer to
the developing country sample, In regressions (3) and (4), the dependent variable is CUMCA, in regression
(5) it is CUMFL. Regressions (4)-(5) exclude Singapore.
More intriguing information
1. Parent child interaction in Nigerian families: conversation analysis, context and culture2. THE USE OF EXTRANEOUS INFORMATION IN THE DEVELOPMENT OF A POLICY SIMULATION MODEL
3. The name is absent
4. The name is absent
5. Change in firm population and spatial variations: The case of Turkey
6. Opciones de política económica en el Perú 2011-2015
7. Imputing Dairy Producers' Quota Discount Rate Using the Individual Export Milk Program in Quebec
8. The name is absent
9. Biologically inspired distributed machine cognition: a new formal approach to hyperparallel computation
10. ‘Goodwill is not enough’