Table A2. Multivariate cross-country models of inflation in developing countries
|
Variable: |
1980-89; new TOR |
1980-89; Cukierman TOR |
1990-98; new TOR |
|
Constant |
-14.30 (-1.39) |
-15.15 (-1.02) |
4.92 (0.56) |
|
CBI |
14.61 (1.33) |
24.04 (1.70) |
15.34 (1.52) |
|
OPEN |
-0.13 (-2.56) |
-0.40 (-3.91) |
-0.09 (-2.77) |
|
GDPCAP |
3.82 (2.30) |
5.40 (2.17) |
1.87 (1.36) |
|
■pi |
16.15 (1.14) |
6.04 (0.21) |
-2.14 (-0.25) |
|
XRATE |
-5.17 (-2.00) |
-1.08 (-0.23) |
-7.15 (-3.24) |
|
DEBT |
0.16 (5.70) |
0.16 (3.97) |
0.04 (3.65) |
|
No. obs. |
55 |
29 |
63 |
|
R2 (adj.) |
046 |
0.53 |
0.27 |
16