Table 2 Regression results Independent...

Table 2

Regression results

Independent variables	Robust ordinary least squares (OLS)		Feasible GLS (FGLS)
Independent variables	Coef.	p-value	Coef.	p-value
Equation (1). Dependent Variable: labor productivity
Human Capital Index (HCI)	−9642.861	0.572	−4884.162	0.658
Investment	104.4128	0.607	−8.317466	0.953
Digital Evolution Index (DEI)	19032.87	0.001***	18990.47	0.000***
Constant	−26707.24	0.004***
Weights			−26471.72	0.000***
Equation (2). Dependent Variable: log Per capita GNI
Human Capital Index (HCI)	1.726857	0.142	1.142373	0.409
Investment	0.0034545	0.792	−0.0001841	0.987
Log Population	−0.0117252	0.05763*	0.0041507	0.935
DEI	1.319593	0.002***	1.450012	0.001***
Constant	4.722352	0.000
Weights			4.581438	0.000**
Equation (3). Dependent Variable: Employment rate
Labor cost	−0.1806375	0.374	−0.1166276	0.336
Log Real GDP	−5.065997	0.330	−10.40436	0.016**
Log Population	−0.3929043	0.870	−0.2250237	0.909
Digital Evolution Index (DEI)	10.50348	0.341	28.26779	0.001***
Constant	88.42046	0.151
Weights			90.79594	0.085**
Equation (4). Dependent Variable: Vulnerable Employment
Labor cost	−0.1280957	0.608	−0.106873	0.627
Log Real GDP	−12.34068	0.031**	−15.4004	0.001***
Log Population	3.622302	0.215	4.218689	0.031***
DEI	−9.435915	0.507	−5.400603	0.623
Constant	102.4988	0.139
Weights			108.6521	0.031***

Independent variables	Robust ordinary least squares (OLS)		Feasible GLS (FGLS)
Independent variables	Coef.	p-value	Coef.	p-value
Equation (1). Dependent Variable: labor productivity
Human Capital Index (HCI)	−9642.861	0.572	−4884.162	0.658
Investment	104.4128	0.607	−8.317466	0.953
Digital Evolution Index (DEI)	19032.87	0.001***	18990.47	0.000***
Constant	−26707.24	0.004***
Weights			−26471.72	0.000***
Equation (2). Dependent Variable: log Per capita GNI
Human Capital Index (HCI)	1.726857	0.142	1.142373	0.409
Investment	0.0034545	0.792	−0.0001841	0.987
Log Population	−0.0117252	0.05763*	0.0041507	0.935
DEI	1.319593	0.002***	1.450012	0.001***
Constant	4.722352	0.000
Weights			4.581438	0.000**
Equation (3). Dependent Variable: Employment rate
Labor cost	−0.1806375	0.374	−0.1166276	0.336
Log Real GDP	−5.065997	0.330	−10.40436	0.016**
Log Population	−0.3929043	0.870	−0.2250237	0.909
Digital Evolution Index (DEI)	10.50348	0.341	28.26779	0.001***
Constant	88.42046	0.151
Weights			90.79594	0.085**
Equation (4). Dependent Variable: Vulnerable Employment
Labor cost	−0.1280957	0.608	−0.106873	0.627
Log Real GDP	−12.34068	0.031**	−15.4004	0.001***
Log Population	3.622302	0.215	4.218689	0.031***
DEI	−9.435915	0.507	−5.400603	0.623
Constant	102.4988	0.139
Weights			108.6521	0.031***

Notes: Both the dependent and the independent variables in the FGLS model are weighted variables calculated using the weights obtained from the OLS. Those weights are then added as an explanatory variable in the FGLS model. *, ** and ***indicates 90, 95 and 99% confidence levels respectively

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