Lower democracy index
| Panel regression results, 2006–2023 | ||
|---|---|---|
| Variables | GDP random | REM fixed effects |
| GDP | – | 0.04 |
| (0.03) | ||
| REM | 2.29*** | – |
| (0.51) | ||
| DEM | 5.81** | −4.35** |
| (2.55) | (0.72) | |
| GMI | −0.015*** | 0.000 |
| (0.005) | (0.002) | |
| REM*DEM | −0.26** | 0.19** |
| (0.11) | (0.03) | |
| POP | −0.92*** | 0.476 |
| (0.29) | (0.411) | |
| Observations | 126 | 126 |
| R-squared | 0.1569 | 0.8065 |
| Number of groups | 7 | 7 |
| F-stat | 0.000 | 0.000 |
| Panel regression results, 2006–2023 | ||
|---|---|---|
| Variables | GDP random | REM fixed effects |
| GDP | – | 0.04 |
| (0.03) | ||
| REM | 2.29*** | – |
| (0.51) | ||
| DEM | 5.81** | −4.35** |
| (2.55) | (0.72) | |
| GMI | −0.015*** | 0.000 |
| (0.005) | (0.002) | |
| REM*DEM | −0.26** | 0.19** |
| (0.11) | (0.03) | |
| POP | −0.92*** | 0.476 |
| (0.29) | (0.411) | |
| Observations | 126 | 126 |
| 0.1569 | 0.8065 | |
| Number of groups | 7 | 7 |
| 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
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