Table 6.

Difference-in-differences results for the debt fiscal limit impact on the debt to revenues ratios

Debt_all_rev_allDebt_per capitaChangeChange/Debt_revDebt_all_revlessgrants_all
Coef.Coef.Coef.Coef.Coef.
Variable(Std. err.)(Std. err.)(Std. err.)(Std. err.)(Std. err.)
Having MOC0.1535 (0.0048)***0.8531 (0.0298)***0.0907 (0.0027)***0.3897 (0.0122)***0.1510 (0.0062)***
Debt fiscal limit−0.0597 (0.0033)***−0.0579 (0.0208)***0.0000 (0.0019)0.0000 (0.0086)−0.0615 (0.0043)***
Did0.0182 (0.0063)***0.1538 (0.0391)***0.0198 (0.0035)***0.1264 (0.0160)***0.0330 (0.0081)***
_cons0.2935 (0.0024)***6.3867 (0.0153)***0.0000 (0.0014)0.0000 (0.0063)0.3906 (0.0032)***
N of observations22,25922,29522,25521,67722,259
F test1035.69***803.04***1174.83***1185.01***661.49***
R-squared0.12250.09750.13670.14090.0819
Source: Authors’ work

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