Table 3 Arellano-Bond Variable...

Table 3

Arellano-Bond

Variable	Coefficient	Std. error	z	P>\|z\|	95% CI lower	95% CI upper
Labor productivity – with moderation
L1.LabourProductivity_mean	0.484	0.180	2.68	0.007	0.131	0.837
Digitalization Index	0.003	0.027	0.1	0.92	−0.049	0.055
Trade Openness	0.006	0.073	0.08	0.936	−0.137	0.149
Oil Index	0.002	0.052	0.03	0.974	−0.100	0.103
DigiX Smart Gov.	0.047	0.032	1.5	0.133	−0.014	0.109
TradeX Smart Gov.	0.006	0.035	0.17	0.868	−0.063	0.075
OilX Smart Gov.	0.007	0.020	0.38	0.705	−0.031	0.046
Labor productivity – without moderation
L1.LabourProductivity_mean	0.469	0.147	3.19	0.001	0.180	0.757
Digitalization Index	0.083	0.044	1.88	0.06	−0.003	0.169
Trade Openness	0.008	0.050	0.16	0.871	−0.090	0.106
Oil Index	0.042	0.061	0.69	0.493	−0.078	0.163
Economic growth – with moderation
L1.EconomicGrowth_PCA	0.112	0.061	1.84	0.066	−0.008	0.232
DigiX Smart Gov	0.099	0.082	1.2	0.231	−0.063	0.260
TradeX Smart Gov	0.133	0.247	0.54	0.591	−0.351	0.616
OilX Smart Gov	0.059	0.152	0.39	0.697	−0.239	0.357
Digitalization Index	0.039	0.050	0.77	0.443	−0.060	0.137
Trade Openness	0.028	0.217	0.13	0.898	−0.398	0.454
Oil Index	0.122	0.067	1.81	0.07	−0.010	0.253
Economic growth – without moderation
L1.EconomicGrowth_PCA	0.142	0.081	1.75	0.079	−0.017	0.301
Digitalization Index	0.158	0.115	1.37	0.172	−0.068	0.384
Trade Openness	0.107	0.124	0.87	0.386	−0.135	0.350
Oil Index	0.174	0.132	1.32	0.187	−0.085	0.433

Variable	Coefficient	Std. error	z	P>\|z\|	95% CI lower	95% CI upper
Labor productivity – with moderation
L1.LabourProductivity_mean	0.484	0.180	2.68	0.007	0.131	0.837
Digitalization Index	0.003	0.027	0.1	0.92	−0.049	0.055
Trade Openness	0.006	0.073	0.08	0.936	−0.137	0.149
Oil Index	0.002	0.052	0.03	0.974	−0.100	0.103
DigiX Smart Gov.	0.047	0.032	1.5	0.133	−0.014	0.109
TradeX Smart Gov.	0.006	0.035	0.17	0.868	−0.063	0.075
OilX Smart Gov.	0.007	0.020	0.38	0.705	−0.031	0.046
Labor productivity – without moderation
L1.LabourProductivity_mean	0.469	0.147	3.19	0.001	0.180	0.757
Digitalization Index	0.083	0.044	1.88	0.06	−0.003	0.169
Trade Openness	0.008	0.050	0.16	0.871	−0.090	0.106
Oil Index	0.042	0.061	0.69	0.493	−0.078	0.163
Economic growth – with moderation
L1.EconomicGrowth_PCA	0.112	0.061	1.84	0.066	−0.008	0.232
DigiX Smart Gov	0.099	0.082	1.2	0.231	−0.063	0.260
TradeX Smart Gov	0.133	0.247	0.54	0.591	−0.351	0.616
OilX Smart Gov	0.059	0.152	0.39	0.697	−0.239	0.357
Digitalization Index	0.039	0.050	0.77	0.443	−0.060	0.137
Trade Openness	0.028	0.217	0.13	0.898	−0.398	0.454
Oil Index	0.122	0.067	1.81	0.07	−0.010	0.253
Economic growth – without moderation
L1.EconomicGrowth_PCA	0.142	0.081	1.75	0.079	−0.017	0.301
Digitalization Index	0.158	0.115	1.37	0.172	−0.068	0.384
Trade Openness	0.107	0.124	0.87	0.386	−0.135	0.350
Oil Index	0.174	0.132	1.32	0.187	−0.085	0.433

Source(s): Authors’ estimations using World Bank (2024) and Worldwide Governance Indicators (2024) data

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