Table 2 SGMM Estimates of Extended Production Function LYL = A0 +( g 0 + g 1 GLO + g 2 GRAT + G3INSTI + G4 DLP + G5( GLO × Z ) )× T +aLKL | ||||
1 |
2 |
3 |
4 | |
A |
-1.324 (0.00) |
-1.341 (0.00) |
-1.322 (0.00) |
-1.328 (0.00) |
g 0 |
-0.026 (0.00) |
-0.026 (0.00) |
-0.025 (0.00) |
-0.025 (0.00) |
a |
0.370 |
0.354 |
0.372 (0.00) |
0.369 |
g1 |
O.543E-03 (0.00) |
O.6O2E-03 (0.00) |
O.543E-03 (0.00) |
O.541E-03 (0.00) |
g5 ( Z = INSTI ) |
— |
-O.123E-03 (0.48) |
-- |
— |
g5 ( Z = GRAT ) |
— |
— |
-O.214E-06 (0.75) |
— |
g5 ( Z = DLP ) |
— |
— |
-- |
-0.049 (0.73) |
2 R |
Levels: 0.861 Diff: 0.033 |
Levels: 0.880 Diff: 0.036 |
Levels: 0.880 Diff: 0.036 |
Levels: 0.880 Diff: 0.036 |
estimated specifications where the positive growth effects of GLO are conditional on these
additional control variables. In the estimates of column 2 it is assumed that the positive
growth effect of GLO is conditional to good institutions. Likewise, estimates in columns 3
and 4 assume that the positive GLO effect is conditional on low government expenditure and
low inflation rate respectively. One would expect that the coefficients of these conditional
variables should be positive. However, none of these coefficients are significant and even
have the expected positive signs. In all these estimates the coefficients of trend, capital stock
and GLO have remained stable. This result may be partly due to the fact that Dreher’s
globalization index is comprehensive and captures the economic, social and political
dimensions of globalization. Therefore, estimates in column 1 with GLO alone as a measure
10
More intriguing information
1. The name is absent2. The name is absent
3. Gianluigi Zenti, President, Academia Barilla SpA - The Changing Consumer: Demanding but Predictable
4. The name is absent
5. Linking Indigenous Social Capital to a Global Economy
6. Une Classe de Concepts
7. Reconsidering the value of pupil attitudes to studying post-16: a caution for Paul Croll
8. Searching Threshold Inflation for India
9. Towards Learning Affective Body Gesture
10. Critical Race Theory and Education: Racism and antiracism in educational theory and praxis David Gillborn*