Amparo Castelló-Climent, Universidad Carlos III de Madrid ... - Ivie

Table 5- Cross-Section and Pool Regressions
OLS Cross-Section
OLS POOL
dlny dlny lns k dlny dlny lns k
(1) (2) (3) (4) (5) (6)
constant -0.146* -0.169* -3.719 -0.306 ∗∗∗ -0.361 ∗∗∗ -4.080
(0.080) (0.093) (7.128) (0.110) (0.114) (3.669)
lny 0.053** 0.072*** 1.851 0.095 ∗∗∗ 0.118 ∗∗∗ 1.700 ∗
(0.020) (0.022) (1.718) (0.027) (0.028) (0.876)
lny 2 -0.004*** -0.005*** -0.117 -0.007 ∗∗∗ -0.008 ∗∗∗ -0.096 ∗
(0.001) (0.001) (0.104) (0.002) (0.002) (0.052)
school m 0.001 0.002 0.010 0.002 ∗ 0.002 ∗ -0.007
(0.001) (0.001) (0.031) (0.001) (0.001) (0.022)
Gini h 0.001 -0.012 -0.984** 0.005 -0.007 -0.920 ∗∗∗
(0.009) (0.010) (0.422) (0.009) (0.008) (0.196)
G/GDP -0.073*** -0.097*** -1.578 -0.047 ∗ -0.067 ∗∗∗ -1.468 ∗∗
(0.023) (0.019) (0.9979 (0.025) (0.025) (0.654)
ASSAS -0.009 -0.014 -0.416 -0.031 ∗ -0.036 ∗∗ -0.369 ∗∗
(0.018) (0.014) (0.614) (0.016) (0.015) (0.179)
lns k 0.013*** 0.014 ∗∗∗
(0.004) (0.003)
lnFERT -0.017*** -0.018** 0.009 -0.020 ∗∗∗ -0.019 ∗∗∗ 0.067
(0.006) (0.007) (0.250) (0.005) (0.006) (0.105)
TOT 0.057 0.065 0.580 0.056 ∗∗ 0.060 ∗∗ 0.300
(0.066) (0.075) (2.874) (0.026) (0.028) (0.544)
laam -0.003 -0.008* -0.337** -0.005 -0.010 ∗∗∗ -0.361 ∗∗∗
(0.003) (0.004) (0.148) (0.004) (0.004) (0.064)
safrica -0.005 -0.009** -0.305* -0.007 -0.011 ∗∗ -0.312 ∗∗∗
(0.004) (0.004) (0.172) (0.005) (0.005) (0.095)
asiae 0.005 0.007 0.100 0.000 0.001 0.022
(0.004) (0.004) (0.152) (0.004) (0.004) (0.080)
Time
dummies yes yes yes
R 2 0.667 0.594 0.504 0.358 0.300 0.500
Countries 81 81 81 89 89 89
Obs 81 81 81 385 385 385
Period 1960-1985 1960-1985 1960-1985 1960-1985 1960-1985 1960-1985
Note- Robust standard errors in parenthesis. *** 1 per cent significance level,
** 5 per cent significance level, * 10 per cent significance level. See Table
2fordefinition of variables. R 2 is overall for random effectsandwithinfor
fixed effects. Time dummies for the years 1965, 1970, 1975, 1980 and 1985 are
included in columns (4)-(6).
Table 6 reports the results of the model controlling for fixed effects. With
reference to the dynamic panel data model where the dependent variable is the
growth rate of per capita income, some results differ if the model is estimated
taking first differences (DIF-GMM) or, if in addition to estimate a first differ-
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