36
Table 6. Correlation between actual and fitted change in net foreign assets*
|
Industrial countries |
Observ. |
Correlation |
Devel. countries |
Observ. |
Correlation ∖ |
|
Australia |
24 |
0.07 |
Algeria |
8 |
0.49 |
|
Austria |
27 |
0.80 |
Argentina |
7 |
0.90 |
|
Belgium |
16 |
0.40 |
Bolivia |
4 |
0.95 |
|
Canada |
27 |
0.17 |
Botswana |
19 |
0.67 |
|
Denmark |
18 |
0.74 |
Brazil |
18 |
0.79 |
|
Finland |
27 |
0.71 |
Chile |
10 |
0.76 |
|
France |
21 |
0.55 |
Colombia |
27 |
0.81 |
|
Germany |
27 |
0.40 |
Costa Rica |
27 |
0.88 |
|
Greece |
26 |
0.68 |
Côte D'Ivoire |
8 |
0.94 |
|
Iceland |
18 |
0.83 |
Dominic. Rep. |
5 |
0.82 |
|
Ireland |
27 |
0.79 |
Ecuador |
27 |
0.88 |
|
Italy |
27 |
0.69 |
El Salvador |
27 |
0.60 |
|
Japan |
27 |
0.10 |
Guatemala |
24 |
0.32 |
|
Netherlands |
27 |
-0.31 |
India |
24 |
0.42 |
|
New Zealand |
27 |
0.58 |
Indonesia |
26 |
0.50 |
|
Norway |
27 |
0.62 |
Israel |
27 |
0.72 |
|
Portugal |
25 |
0.81 |
Jamaica |
27 |
0.80 |
|
Spain |
22 |
0.46 |
Jordan |
23 |
0.77 |
|
Sweden |
27 |
0.72 |
Korea |
27 |
0.77 |
|
Switzerland |
18 |
-0.35 |
Malaysia |
27 |
0.56 |
|
United Kingdom |
27 |
0.19 |
Mauritius |
26 |
0.81 |
|
United States |
27 |
0.01 |
Mexico |
24 |
0.17 |
|
Morocco |
27 |
0.92 | |||
|
Pakistan |
26 |
0.85 | |||
|
Panama |
27 |
0.21 | |||
|
Paraguay |
22 |
0.77 | |||
|
Peru |
8 |
0.80 | |||
|
Philippines |
27 |
0.60 | |||
|
South Africa |
27 |
0.62 | |||
|
Sri Lanka |
25 |
0.78 | |||
|
Taiwan |
23 |
0.71 | |||
|
Thailand |
27 |
0.44 | |||
|
Trinidad&T. |
21 |
0.75 | |||
|
Tunisia |
27 |
0.76 | |||
|
Turkey |
22 |
0.48 | |||
|
Uruguay |
24 |
0.87 | |||
|
Venezuela |
27 |
0.34 | |||
|
_ |
_ |
Zimbabwe________ |
20 |
_________0.63 |
*Correlation coefficient between actual and fitted values of changes in the ratio of net foreign assets
to GDP. Regressions for the period 1970-98 corresponding to column (1) in Table (5), panel A for
industrial countries and column (5) in Table 5, panel B for developing countries.