Table 4 Robustness test with system GMM...

Table 4

Robustness test with system GMM

Dependent variable: per capita growth rate of GDP [grow]
Variables [Notations]	Robust system GMM 1	Robust system GMM 2	Robust system GMM 3	Robust system GMM 4	Robust system GMM 5	Robust system GMM 6	Robust system GMM 7
Share of mineral rents of GDP [MINE]	0.377** (2.63)	0.309* (2.42)	0.312* (2.46)	0.307* (2.35)	0.333* (2.43)	0.333* (2.43)	0.328* (2.38)
Population growth rate [POPR]	−4.303 (−1.94)	−4.473* (−1.97)	−4.553* (−1.97)	−4.603* (−2.07)	−4.630* (−1.96)	−4.630* (−1.96)	−4.611* (−1.96)
Border proximity [BORD]	0.520 (0.72)	0.696 (0.87)	0.626 (0.76)	0.628 (0.79)	0.615 (0.77)	0.615 (0.77)	0.610 (0.74)
Prevalence of civil war [CIVI]	−5.881* (−2.28)	−6.458* (−2.36)	−6.561* (−2.38)	−6.467* (−2.35)	−6.320* (−2.38)	−6.320* (−2.38)	−6.282* (−2.38)
Population growth rate * Civil war [PGCW	2.386** (2.71)	2.510** (2.71)	2.579** (2.71)	2.593** (2.79)	2.572** (2.79)	2.572** (2.79)	2.570** (2.79)
Mineral rents * Civil war [MRWC]	−0.0553* (−2.04)	−0.0451* (−2.00)	−0.0422 (−1.88)	−0.0452* (−2.03)	−0.0485* (−2.00)	−0.0485* (−2.00)	−0.0520* (−2.10)
Democratic institution quality [DEMO]	0.0331 (1.39)	0.0391 (1.76)	0.0398 (1.78)	−0.0567 (−0.27)	−0.631 (−1.23)	−0.631 (−1.23)	−0.623 (−1.22)
Lag one of dependent variable	0.0334 (0.35)	0.0319 (0.33)	0.0326 (0.35)	0.0344 (0.37)	0.0313 (0.33)	0.0313 (0.33)	0.0309 (0.32)
FDI net inflow of GDP [FDIN]	0.0270 (0.89)	−0.292 (−1.73)	−0.277 (−1.65)	−0.270 (−1.64)	−0.256 (−1.63)	−0.256 (−1.63)	−0.268 (−1.71)
Mineral rents* FDI [DFIM]		0.006* (2.40)	0.007* (2.35)	0.005* (2.35)	0.005* (2.40)	0.005* (2.40)	0.006* (2.49)
Civil violence prevalence [VOCI]			−2.572 (−1.21)	−3.019 (−1.48)	−3.020 (−1.44)	−3.020 (−1.44)	−2.743 (−1.29)
Effectiveness of governance institutional quality [EFGI]				−0.0982 (−0.43)	−0.158 (−0.83)	−0.158 (−1.83)	−0.169 (−0.90)
Quality of accountability institution [QAIS]					−0.522 (−0.97)	−0.522 (−0.97)	−0.500 (−1.94)
Intensity of civil war (Uppsala Model) [ICWU]						2.468* (2.33)	2.479* (2.33)
Dummy variable for severity of civil war (Uppsala Model) [DVSW]							2.552* (2.48)
Constant	36.35 (0.28)	−12.97 (−0.11)	18.43 (0.14)	41.28 (0.34)	34.67 (0.28)	−459.2* (−2.03)	−469.3* (−2.07)
N	483	483	483	483	483	483	483
Countries	13	13	13	13	13	13	13
Fixed effect	Y	Y	Y	Y	Y	Y	Y
Time dummy variable	Y	Y	Y	Y	Y	Y	Y
Arellano bond two [ ${A R}_{2}$ ]	0.2188	0.7101	0.6898	0.6968	0.6130	0.6130	0.6067

Dependent variable: per capita growth rate of GDP [grow]
Variables [Notations]	Robust system GMM 1	Robust system GMM 2	Robust system GMM 3	Robust system GMM 4	Robust system GMM 5	Robust system GMM 6	Robust system GMM 7
Share of mineral rents of GDP [MINE]	0.377** (2.63)	0.309* (2.42)	0.312* (2.46)	0.307* (2.35)	0.333* (2.43)	0.333* (2.43)	0.328* (2.38)
Population growth rate [POPR]	−4.303 (−1.94)	−4.473* (−1.97)	−4.553* (−1.97)	−4.603* (−2.07)	−4.630* (−1.96)	−4.630* (−1.96)	−4.611* (−1.96)
Border proximity [BORD]	0.520 (0.72)	0.696 (0.87)	0.626 (0.76)	0.628 (0.79)	0.615 (0.77)	0.615 (0.77)	0.610 (0.74)
Prevalence of civil war [CIVI]	−5.881* (−2.28)	−6.458* (−2.36)	−6.561* (−2.38)	−6.467* (−2.35)	−6.320* (−2.38)	−6.320* (−2.38)	−6.282* (−2.38)
Population growth rate * Civil war [PGCW	2.386** (2.71)	2.510** (2.71)	2.579** (2.71)	2.593** (2.79)	2.572** (2.79)	2.572** (2.79)	2.570** (2.79)
Mineral rents * Civil war [MRWC]	−0.0553* (−2.04)	−0.0451* (−2.00)	−0.0422 (−1.88)	−0.0452* (−2.03)	−0.0485* (−2.00)	−0.0485* (−2.00)	−0.0520* (−2.10)
Democratic institution quality [DEMO]	0.0331 (1.39)	0.0391 (1.76)	0.0398 (1.78)	−0.0567 (−0.27)	−0.631 (−1.23)	−0.631 (−1.23)	−0.623 (−1.22)
Lag one of dependent variable	0.0334 (0.35)	0.0319 (0.33)	0.0326 (0.35)	0.0344 (0.37)	0.0313 (0.33)	0.0313 (0.33)	0.0309 (0.32)
FDI net inflow of GDP [FDIN]	0.0270 (0.89)	−0.292 (−1.73)	−0.277 (−1.65)	−0.270 (−1.64)	−0.256 (−1.63)	−0.256 (−1.63)	−0.268 (−1.71)
Mineral rents* FDI [DFIM]		0.006* (2.40)	0.007* (2.35)	0.005* (2.35)	0.005* (2.40)	0.005* (2.40)	0.006* (2.49)
Civil violence prevalence [VOCI]			−2.572 (−1.21)	−3.019 (−1.48)	−3.020 (−1.44)	−3.020 (−1.44)	−2.743 (−1.29)
Effectiveness of governance institutional quality [EFGI]				−0.0982 (−0.43)	−0.158 (−0.83)	−0.158 (−1.83)	−0.169 (−0.90)
Quality of accountability institution [QAIS]					−0.522 (−0.97)	−0.522 (−0.97)	−0.500 (−1.94)
Intensity of civil war (Uppsala Model) [ICWU]						2.468* (2.33)	2.479* (2.33)
Dummy variable for severity of civil war (Uppsala Model) [DVSW]							2.552* (2.48)
Constant	36.35 (0.28)	−12.97 (−0.11)	18.43 (0.14)	41.28 (0.34)	34.67 (0.28)	−459.2* (−2.03)	−469.3* (−2.07)
N	483	483	483	483	483	483	483
Countries	13	13	13	13	13	13	13
Fixed effect	Y	Y	Y	Y	Y	Y	Y
Time dummy variable	Y	Y	Y	Y	Y	Y	Y
Arellano bond two [ ${A R}_{2}$ ]	0.2188	0.7101	0.6898	0.6968	0.6130	0.6130	0.6067

Note(s): t statistics in parentheses * p < 0.05, **p < 0.01 and ***p < 0.001

Source(s): Author's computations

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