Table 4 Baseline short-term two-step...

Table 4

Baseline short-term two-step system GMM estimates of the effect of per capita income growth on bipolar and depression disorders

	Bipolar	Depression
L.Bipolar	0.9791*** (0.0070)
Per capita income growth	−0.0012*** (0.0002)	−0.0010* (0.0006)
Health expenditure	−0.0021** (0.0008)	−0.0008 (0.0027)
Population growth	−0.0184*** (0.0027)	−0.0268*** (0.0046)
Physician density	−0.0215*** (0.0034)	−0.0207*** (0.0044)
L.Depression		0.9705*** (0.0084)
Constant	−0.0320 (0.0317)	−0.0112 (0.0309)
Observations	145	145
No. of groups	42	42
No. of instruments	35	22
ARB test	−0.4523	−1.6419
ARB test p-value	0.6511	0.1006
Hansen j	32.7000	10.0479
Hansen j p-value	0.1710	0.6900
F-stat.	33,571.7069	4,092.2117
F-stat. p-value	0.0000	0.0000

	Bipolar	Depression
L.Bipolar	0.9791*** (0.0070)
Per capita income growth	−0.0012*** (0.0002)	−0.0010* (0.0006)
Health expenditure	−0.0021** (0.0008)	−0.0008 (0.0027)
Population growth	−0.0184*** (0.0027)	−0.0268*** (0.0046)
Physician density	−0.0215*** (0.0034)	−0.0207*** (0.0044)
L.Depression		0.9705*** (0.0084)
Constant	−0.0320 (0.0317)	−0.0112 (0.0309)
Observations	145	145
No. of groups	42	42
No. of instruments	35	22
ARB test	−0.4523	−1.6419
ARB test p-value	0.6511	0.1006
Hansen j	32.7000	10.0479
Hansen j p-value	0.1710	0.6900
F-stat.	33,571.7069	4,092.2117
F-stat. p-value	0.0000	0.0000

Notes:

Standard errors in parentheses; *p < 0.1, **p < 0.05, ***p < 0.01; ARB test = Arellano–Bond second-order serial correlation test; Hansen j = Hansen overidentification test; L. = first lag; Bipolar and depression indicators are log-transformed; for brevity, year dummies are not reported

Source: Authors’ computation using data from the GBD and WDI databases

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