Higher democracy index
| Panel regression results, 2006–2023 | ||
|---|---|---|
| Variables | GDP fixed effects | REM fixed effects |
| GDP | – | −0.03*** |
| (0.01) | ||
| REM | −6.4*** | – |
| (1.65) | ||
| DEM | −21.2** | −3.70*** |
| (7.1) | (0.32) | |
| GMI | −0.02 | −0.004* |
| (0.03) | (0.002) | |
| REM*DEM | 0.88** | 0.16*** |
| (0.33) | (0.016) | |
| POP | 5.79 | 3.08** |
| (3.68) | (0.86) | |
| POL | 2.02* | 0.371 |
| (0.83) | (0.371) | |
| Observations | 108 | 108 |
| R-squared | 0.0036 | 0.9265 |
| Number of groups | 6 | 6 |
| 6528.03 | 155.78 | |
| F-stat | 0.000 | 0.000 |
| Panel regression results, 2006–2023 | ||
|---|---|---|
| Variables | GDP fixed effects | REM fixed effects |
| GDP | – | −0.03*** |
| (0.01) | ||
| REM | −6.4*** | – |
| (1.65) | ||
| DEM | −21.2** | −3.70*** |
| (7.1) | (0.32) | |
| GMI | −0.02 | −0.004* |
| (0.03) | (0.002) | |
| REM*DEM | 0.88** | 0.16*** |
| (0.33) | (0.016) | |
| POP | 5.79 | 3.08** |
| (3.68) | (0.86) | |
| POL | 2.02* | 0.371 |
| (0.83) | (0.371) | |
| Observations | 108 | 108 |
| 0.0036 | 0.9265 | |
| Number of groups | 6 | 6 |
| 6528.03 | 155.78 | |
| F-stat | 0.000 | 0.000 |
Note(s): Robust standard errors in parentheses, ***p < 0.01, **p < 0.05 and *p < 0.1. Countries are grouped based on democracy index. GDP: Gross Domestic Product, REM: Personal Remittances, DEM: Democracy Index, GMI: Gross Militarization Index, POP: Population, POL: Political Stability
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