Table 5 Controlling effects of fiscal...

Table 5

Controlling effects of fiscal vulnerability

Estimated	Estimators	Coefficient	t-stat	Prob	R²	ΔR²	F-stat
GDP	PD	0.382	0.77	0.450	0.743	0.631	6.623
GDP	DDR	0.694	0.80	0.432	0.743	0.631	6.623
GDP	DSDR	−0.178	−0.73	0.473	0.743	0.631	6.623
GDP	IGDP	−0.217	−0.54	0.594	0.743	0.631	6.623
GDP	IDR	−0.681	−0.71	0.487	0.743	0.631	6.623
GDP	EDE	−0.421	−0.86	0.399	0.743	0.631	6.623
GDP	NIR	0.061	0.15	0.880	0.743	0.631	6.623
INF	PD	0.478	0.90	0.380	0.397	0.133	1.504
INF	DDR	−1.146	−1.24	0.233	0.397	0.133	1.504
INF	DSDR	−0.195	−0.75	0.464	0.397	0.133	1.504
INF	IGDP	−0.523	−1.22	0.239	0.397	0.133	1.504
INF	IDR	1.332	1.29	0.213	0.397	0.133	1.504
INF	EDE	0.624	1.19	0.250	0.397	0.133	1.504
INF	NIR	0.121	0.29	0.779	0.397	0.133	1.504
UNE	PD	0.489	4.22***	0.000	0.887	0.835	16.906
UNE	DDR	−0.634	−3.11***	0.007	0.887	0.835	16.906
UNE	DSDR	−0.515	−8.57***	0.000	0.887	0.835	16.906
UNE	IGDP	−0.758	−7.91**	0.000	0.887	0.835	16.906
UNE	IDR	1.147	5.07***	0.000	0.887	0.835	16.906
UNE	EDE	0.428	3.62***	0.002	0.887	0.835	16.906
UNE	NIR	−0.154	−1.59	0.132	0.887	0.835	16.906
TB	PD	−12.378	−2.02*	0.060	0.564	0.374	2.966
TB	DDR	12.773	1.19	0.248	0.564	0.374	2.966
TB	DSDR	9.645	3.21***	0.005	0.564	0.374	2.966
TB	IGDP	17.441	3.53***	0.002	0.564	0.374	2.966
TB	IDR	−22.525	−1.90*	0.075	0.564	0.374	2.966
TB	EDE	−8.922	−1.47	0.158	0.564	0.374	2.966
TB	NIR	−5.060	−1.03	0.318	0.564	0.374	2.966

Estimated	Estimators	Coefficient	t-stat	Prob	R²	ΔR²	F-stat
GDP	PD	0.382	0.77	0.450	0.743	0.631	6.623
GDP	DDR	0.694	0.80	0.432	0.743	0.631	6.623
GDP	DSDR	−0.178	−0.73	0.473	0.743	0.631	6.623
GDP	IGDP	−0.217	−0.54	0.594	0.743	0.631	6.623
GDP	IDR	−0.681	−0.71	0.487	0.743	0.631	6.623
GDP	EDE	−0.421	−0.86	0.399	0.743	0.631	6.623
GDP	NIR	0.061	0.15	0.880	0.743	0.631	6.623
INF	PD	0.478	0.90	0.380	0.397	0.133	1.504
INF	DDR	−1.146	−1.24	0.233	0.397	0.133	1.504
INF	DSDR	−0.195	−0.75	0.464	0.397	0.133	1.504
INF	IGDP	−0.523	−1.22	0.239	0.397	0.133	1.504
INF	IDR	1.332	1.29	0.213	0.397	0.133	1.504
INF	EDE	0.624	1.19	0.250	0.397	0.133	1.504
INF	NIR	0.121	0.29	0.779	0.397	0.133	1.504
UNE	PD	0.489	4.22***	0.000	0.887	0.835	16.906
UNE	DDR	−0.634	−3.11***	0.007	0.887	0.835	16.906
UNE	DSDR	−0.515	−8.57***	0.000	0.887	0.835	16.906
UNE	IGDP	−0.758	−7.91**	0.000	0.887	0.835	16.906
UNE	IDR	1.147	5.07***	0.000	0.887	0.835	16.906
UNE	EDE	0.428	3.62***	0.002	0.887	0.835	16.906
UNE	NIR	−0.154	−1.59	0.132	0.887	0.835	16.906
TB	PD	−12.378	−2.02*	0.060	0.564	0.374	2.966
TB	DDR	12.773	1.19	0.248	0.564	0.374	2.966
TB	DSDR	9.645	3.21***	0.005	0.564	0.374	2.966
TB	IGDP	17.441	3.53***	0.002	0.564	0.374	2.966
TB	IDR	−22.525	−1.90*	0.075	0.564	0.374	2.966
TB	EDE	−8.922	−1.47	0.158	0.564	0.374	2.966
TB	NIR	−5.060	−1.03	0.318	0.564	0.374	2.966

Note(s): ***p < 0.01, **p < 0.05 and *p < 0.10

Source(s): Authors’ computation, 2024

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