Table 3 Bias corrected LSDV Variables...

Table 3

Bias corrected LSDV

Variables	AH-LSDVC	AB-LSDVC
lagpcgdp	0.995***	0.995***
lagpcgdp	(0.0202)	(0.0291)
corr	0.00748	0.00896
corr	(0.0244)	(0.0358)
corrsq	−0.0629***	−0.0626*
corrsq	(0.0236)	(0.0333)
gfcf	0.000179	0.000260
gfcf	(0.00143)	(0.00229)
govexp	−0.00981***	−0.00973**
govexp	(0.00326)	(0.00447)
pop	−0.0173	−0.0147
pop	(0.0191)	(0.0295)
trade	4.22e-05	4.03e-05
trade	(0.000611)	(0.000900)
inf	−0.000470	−0.000442
inf	(0.000403)	(0.000567)
polsta	−0.00974	−0.00954
polsta	(0.0127)	(0.0200)
rulaw	0.0109	0.00810
rulaw	(0.0280)	(0.0421)
Corr*rulaw	0.0802	0.0776
Corr*rulaw	(0.0587)	(0.0836)
liter	−0.000113	−0.000113
liter	(0.000202)	(0.000294)
Observations	119	119

Variables	AH-LSDVC	AB-LSDVC
lagpcgdp	0.995***	0.995***
lagpcgdp	(0.0202)	(0.0291)
corr	0.00748	0.00896
corr	(0.0244)	(0.0358)
corrsq	−0.0629***	−0.0626*
corrsq	(0.0236)	(0.0333)
gfcf	0.000179	0.000260
gfcf	(0.00143)	(0.00229)
govexp	−0.00981***	−0.00973**
govexp	(0.00326)	(0.00447)
pop	−0.0173	−0.0147
pop	(0.0191)	(0.0295)
trade	4.22e-05	4.03e-05
trade	(0.000611)	(0.000900)
inf	−0.000470	−0.000442
inf	(0.000403)	(0.000567)
polsta	−0.00974	−0.00954
polsta	(0.0127)	(0.0200)
rulaw	0.0109	0.00810
rulaw	(0.0280)	(0.0421)
Corr*rulaw	0.0802	0.0776
Corr*rulaw	(0.0587)	(0.0836)
liter	−0.000113	−0.000113
liter	(0.000202)	(0.000294)
Observations	119	119

Note(s): (*, **, ***) denotes statistical significance at 10%, 5% and 1%. AH-LSDVC refers to the bias corrected Anderson and Hsiao (1981, 1982) estimator while AB-LSDVC denotes the bias corrected Arellano-Bond (1991) estimator that control for both individual and time effects

Source(s): Author's calculations – robust standard errors reported

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