Results of first step GMM model
| Variable name | GMM |
|---|---|
| Lag Working Poverty | 0.54 (0.00) *** |
| Trade Openness (CTS) | −0.006 (0.00) *** |
| Growth Rate | −0.18 (0.00) *** |
| School Enrollment | −0.33 (0.00) *** |
| Labor Productivity | 0.0007 (0.01) * |
| Age Dependency | −0.07 (0.83) |
| Unemployment Rate | −0.39 (0.29) |
| Inflation | 0.0002 (0.72) |
| Number of Observations | 1,470 |
| Number of Groups | 98 |
| Number of Instruments | 90 |
| Diagnostic Test Results | |
| F-value | 17.16 |
| Prob > F | 0.000 |
| Arellano–Bond test for AR (1) | Z = −2.53 and Prob > Z = 0.011 |
| Arellano–Bond test for AR (2) | Z = −1.11 and Prob > Z = 0.265 |
| Hansen test of over identifying restrictions | χ2 (65) = 80.52, Prob > χ2 = 0.09 |
| Variable name | GMM |
|---|---|
| Lag Working Poverty | 0.54 (0.00) *** |
| Trade Openness (CTS) | −0.006 (0.00) *** |
| Growth Rate | −0.18 (0.00) *** |
| School Enrollment | −0.33 (0.00) *** |
| Labor Productivity | 0.0007 (0.01) * |
| Age Dependency | −0.07 (0.83) |
| Unemployment Rate | −0.39 (0.29) |
| Inflation | 0.0002 (0.72) |
| Number of Observations | 1,470 |
| Number of Groups | 98 |
| Number of Instruments | 90 |
| Diagnostic Test Results | |
| 17.16 | |
| Prob > | 0.000 |
| Arellano–Bond test for AR (1) | Z = −2.53 and Prob > Z = 0.011 |
| Arellano–Bond test for AR (2) | Z = −1.11 and Prob > Z = 0.265 |
| Hansen test of over identifying restrictions |
Note(s): p values are shown in the parenthesis. *** indicates significant at 1% level of significance, ** indicates significant at 5% level of significance and finally * indicates significance at 10% level of significance, time dummies are included in the model
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