Table 6 Coefficient estimation Dep. Var.... | Emerald Publishing

Table 6

Coefficient estimation

Dep. Var. = GDPPCGR	Coefficient	Std. Error	Coefficient	Std. Error	Coefficient	Std. Error
Dep. Var. = GDPPCGR	Model one (Polity2)		Model two (CL)		Model three (PR)
Long-run coefficient
FDI	0.255**	0.121	0.248*	0.129	0.264**	0.128
TLF	0.00002**	8.79e-06	0.00002**	8.38e-06	0.00002**	8.43e-06
GFCF	−0.028	0.114	−0.027	0.115	−0.036	0.117
Democ	−0.146	2.993	−1.780	11.932	2.494	7.696
FinDev	0.131**	0.058	0.130**	0.055	0.129**	0.056
PTS	−21.670*	11.417	−20.987*	11.831	−22.316*	11.665
Short-run coefficient
Coint. Eqn	−0.793***	0.067	−0.794***	0.067	−0.790***	0.067
D.FDI	−0.046	0.097	−0.045	0.098	−0.047	0.098
D.TLF	−0.0004**	0.0002	−0.0004**	0.0002	−0.0004**	0.0002
D.GFCF	−0.029	0.094	−0.029	0.094	−0.027	0.094
D.Democ	0.036	2.544	−0.341	12.153	2.418	7.168
D.FinDev	−0.111*	0.060	−0.111*	0.060	−0.111*	0.059
D.PTS	1.122	8.612	1.123	8.881	1.022	8.635

Dep. Var. = GDPPCGR	Coefficient	Std. Error	Coefficient	Std. Error	Coefficient	Std. Error
Dep. Var. = GDPPCGR	Model one (Polity2)		Model two (CL)		Model three (PR)
Long-run coefficient
FDI	0.255**	0.121	0.248*	0.129	0.264**	0.128
TLF	0.00002**	8.79e-06	0.00002**	8.38e-06	0.00002**	8.43e-06
GFCF	−0.028	0.114	−0.027	0.115	−0.036	0.117
Democ	−0.146	2.993	−1.780	11.932	2.494	7.696
FinDev	0.131**	0.058	0.130**	0.055	0.129**	0.056
PTS	−21.670*	11.417	−20.987*	11.831	−22.316*	11.665
Short-run coefficient
Coint. Eqn	−0.793***	0.067	−0.794***	0.067	−0.790***	0.067
D.FDI	−0.046	0.097	−0.045	0.098	−0.047	0.098
D.TLF	−0.0004**	0.0002	−0.0004**	0.0002	−0.0004**	0.0002
D.GFCF	−0.029	0.094	−0.029	0.094	−0.027	0.094
D.Democ	0.036	2.544	−0.341	12.153	2.418	7.168
D.FinDev	−0.111*	0.060	−0.111*	0.060	−0.111*	0.059
D.PTS	1.122	8.612	1.123	8.881	1.022	8.635

Note(s): ***, ** and * denote significance at 1%, 5% and 10% respectively

Source(s): Authors' computation