Table 11

Cox model for the macroeconomic level

a) Developed economiesb) Emerging economies
VariableHaz. ratioVariableHaz. ratio
TGDPG0.9696TGDPG0.1.009
(0.0201) (0.0142)
GDPCG0.2065GDPCG768.5523
(0.7995) (3318.45)
GDPG1.000GDPG0.9997
(0.0004) (0.0001)
GDPPG7.4659GDPPG0.1516
(12.9854) (0.2677)
INFG0.9998INFG0.9984
(0.0007) (0.0009)
INFDG0.9999INFDG0.9970
(0.0002) (0.0017)
REEG1.0409REEG0.9720
(0.0277) (0.0174)
LOG0.9140LOG0.9987
(0.1881) (0.0003)

Note(s): *p-value <0.10, **p-value <0.05, ***p-value <0.001

Source(s): Authors’ computations

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