Table 6. Regression results Dependent...

Table 6.

Regression results

Dependent variable:	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)
Inclusive growth	Index	Index	Index	Index	Index	Index	Index	Index
IGI(−1)	1.0071*** (0.0243)	0.9048*** (0.0347)	1.0303*** (0.0258)	0.9630*** (0.0247)	0.9110*** (0.0387)	0.9294*** (0.0381)	0.9922*** (0.0227)	0.9649*** (0.0243)
DGN	0.05279*** (0.0108)	0.02483** (0.0124)	0.05489*** (0.0095)	0.05308*** (0.0103)	0.01039 (0.0111)	0.01042 (0.0115)	0.06800*** (0.0111)	0.05916*** (0.0103)
FDI	0.4916*** (0.1764)	0.1317 (0.3988)	0.2521** (0.1222)	0.7111*** (0.1821)	0.01835 (0.3955)	0.1220 (0.3865)	0.5581*** (0.1549)	0.6684*** (0.1579)
CPI	0.4160*** (0.0394)	0.4225*** (0.0383)	0.4824*** (0.0273)	0.3850*** (0.0323)	0.4781*** (0.0386)	0.4647*** (0.0309)	0.3922*** (0.0307)	0.3807*** (0.0339)
GQ	0.03907*** (0.0019)
DFSP	−0.005555*** (0.0021)
DFSP*VC		−0.0009625 (0.0016)
DFSP*PS			−0.008502*** (0.0013)
DFSP*GE				−0.004313** (0.0018)
DFSP*RQ					−0.005992*** (0.0021)
DFSP*RL						−0.006090*** (0.0017)
DFSP*CC							−0.004708*** (0.0015)
DFSP*GQ								−0.009027*** (0.0019)
CONSTANT	−0.3942*** (0.0785)	−0.2338** (0.0925)	−0.4139*** (0.0660)	−0.4313*** (0.0715)	−0.1232 (0.0824)	−0.1237 (0.0846)	−0.5232*** (0.0772)	−0.4745*** (0.0711)
Observations	560	560	560	560	560	560	560	560
Prob > Chi²	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
AR(1)	0.0057	0.0081	0.0046	0.0068	0.0081	0.0077	0.0062	0.0065
AR(2)	0.0523	0.0522	0.0593	0.0621	0.0513	0.0513	0.0589	0.0583
Sargan (p-value)	0.9939	1.0000	0.9788	0.9985	1.0000	1.0000	0.9960	0.9988

Dependent variable:	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)
Inclusive growth	Index	Index	Index	Index	Index	Index	Index	Index
IGI(−1)	1.0071*** (0.0243)	0.9048*** (0.0347)	1.0303*** (0.0258)	0.9630*** (0.0247)	0.9110*** (0.0387)	0.9294*** (0.0381)	0.9922*** (0.0227)	0.9649*** (0.0243)
DGN	0.05279*** (0.0108)	0.02483** (0.0124)	0.05489*** (0.0095)	0.05308*** (0.0103)	0.01039 (0.0111)	0.01042 (0.0115)	0.06800*** (0.0111)	0.05916*** (0.0103)
FDI	0.4916*** (0.1764)	0.1317 (0.3988)	0.2521** (0.1222)	0.7111*** (0.1821)	0.01835 (0.3955)	0.1220 (0.3865)	0.5581*** (0.1549)	0.6684*** (0.1579)
CPI	0.4160*** (0.0394)	0.4225*** (0.0383)	0.4824*** (0.0273)	0.3850*** (0.0323)	0.4781*** (0.0386)	0.4647*** (0.0309)	0.3922*** (0.0307)	0.3807*** (0.0339)
GQ	0.03907*** (0.0019)
DFSP	−0.005555*** (0.0021)
DFSP*VC		−0.0009625 (0.0016)
DFSP*PS			−0.008502*** (0.0013)
DFSP*GE				−0.004313** (0.0018)
DFSP*RQ					−0.005992*** (0.0021)
DFSP*RL						−0.006090*** (0.0017)
DFSP*CC							−0.004708*** (0.0015)
DFSP*GQ								−0.009027*** (0.0019)
CONSTANT	−0.3942*** (0.0785)	−0.2338** (0.0925)	−0.4139*** (0.0660)	−0.4313*** (0.0715)	−0.1232 (0.0824)	−0.1237 (0.0846)	−0.5232*** (0.0772)	−0.4745*** (0.0711)
Observations	560	560	560	560	560	560	560	560
Prob > Chi²	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
AR(1)	0.0057	0.0081	0.0046	0.0068	0.0081	0.0077	0.0062	0.0065
AR(2)	0.0523	0.0522	0.0593	0.0621	0.0513	0.0513	0.0589	0.0583
Sargan (p-value)	0.9939	1.0000	0.9788	0.9985	1.0000	1.0000	0.9960	0.9988

Notes:

Levels of significance: (***) 1 and (**) 5%. Standard errors are in parenthesis; See methodology section for the definitions of variables

Source: Authors

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