constant | 0.054064 | 0.050927 | 0.046495 | 0.054804 |
ITR on labour | 0.000785 (0.223965) | −0.006572 | −0.007232 | −0.008363 |
gross fixed capital formation as % of GDP | 0.011137 | 0.011561 | 0.005671 | |
net FDI as % of GDP | 0.000653 (1.584466) | 0.000526 (1.138521) | −0.000257 (−0.738284) | |
inflation rate (%) | −0.000518 (−0.511214) | −0.000508 (−0.278744) | 0.001853 (1.361434) | |
exports of goods and services as % of GDP | 0.001758 (2.167463) | 0.002776 | −0.000518 (−0.511687) | |
education | 0.001057 (0.211763) | 0.001713 (0.430490) | ||
property rights | −0.000389 (−0.376706) | 0.001037 (1.330365) | ||
freedom from corruption | 0.001452 (0.970902) | 0.001294 (0.984987) | ||
political stability and absence of violence/terrorism | 0.027440 (1.042311) | 0.059590 | ||
Type of estimation | OLS | OLS | OLS | OLS − FE:CS, PE |
R squared | 0.000496 | 0.435893 | 0.485053 | 0.836564 |
F-test for fixed effects | 6.452260 (0.0000) | |||
Chi-square | 89.516040 (0.0000) |
constant | 1.176472 | 1.159138 | 0.962594 | 1.356994 |
ITR on labour | −0.127108 (−1.068189) | −0.073326 (−0.582976) | −0.082631 (−0.591717) | −0.067955 (−0.466156) |
ln net earnings | 1.805922 (0.780980) | 1.361713 (0.506566) | −6.952759 | |
net FDI as % of GDP | −0.017343 (−0.794479) | −0.017906 (−0.781938) | −0.045757 | |
ln work force | −22.09199 | −23.63137 (−1.527044) | −11.62846 (−0.691677) | |
education | 0.230587 (0.911089) | 0.331204 (1.178688) | ||
freedom from corruption | 0.087352 (1.225601) | 0.168982 | ||
political stability and absence of violence/terrorism | 0.160089 (0.120571) | 0.240086 (0.134896) | ||
Type of estimation | OLS | OLS | OLS | OLS − FE:CS, PE |
R squared | 0.011746 | 0.076357 | 0.085215 | 0.432698 |
F-test for fixed effects | 1.909613 (0.0377) | |||
Chi-square | 37.268137 (0.0031) |
constant | 1.228154 | 1.203238 | 1.016231 | 1.475073 |
ITR on consumption | 0.238745 (−1.643091) | −0.375213 | −0.342861 | −0.334442 |
ln net earnings | 2.359980 (1.064905) | 2.644713 (1.004505) | −6.514668 | |
net FDI as % of GDP | −0.022206 (−1.089116) | −0.023117 (−1.080595) | −0.054292 | |
ln work force | −21.60831 | −19.99538 (−1.319981) | −6.263873 (−0.379454) | |
education | 0.185409 (0.752895) | 0.251259 (0.916263) | ||
freedom from corruption | 0.061421 (0.869799) | 0.147285 (1.619881) | ||
political stability and absence of violence/terrorism | −0.040470 (−0.031196) | 0.004003 (0.002319) | ||
Type of estimation | OLS | OLS | OLS | OLS − FE:CS, PE |
R squared | 0.027353 | 0.137109 | 0.130661 | 0.465192 |
F-test for fixed effects | 1.950139 (0.0332) | |||
Chi-square | 37.894385 (0.0025) |
constant | −0.257278 | 0.333095 (1.539914) | −0.102240 (−0.427883) | −0.411162 (−1.189058) |
ITR on labour | −0.163075 (−1.555866) | −0.204673 | −0.064789 (−0.658486) | −0.033931 (−0.331154) |
ln GDP | −25.33682 | −25.64988 (−5.438959) | −7.323033 (−0.841516) | |
net FDI as % of GDP | 0.002219 (0.116100) | −0.019256 (−1.090233) | −0.003113 (−0.180235) | |
inflation rate (%) | −0.098132 | −0.102411 | −0.016878 (−0.258313) | |
ln population | 0.435765 (0.017769) | 5.794794 (0.187307) | 36.36977 (0.676666) | |
exports of goods and services as % of GDP | 0.059091 (1.644755) | 0.085049 | 0.015900 (0.325546) | |
education | 0.387833 | 0.405549 | ||
rule of law | 4.292476 | 3.005146 (1.260339) | ||
political stability and absence of violence/terrorism | −1.739273 | −1.279629 (−0.911227) | ||
Type of estimation | OLS | OLS | OLS | OLS − FE:CS, PE |
R squared | 0.023407 | 0.305287 | 0.455759 | 0.656699 |
F-test for fixed effects | 1.755958 (0.0622) | |||
Chi-square | 35.941300 (0.0047) |
Unemployment rate | World Bank online database (2018) |
Gross Domestic Product | World Bank online database (2018) |
Gross Domestic Product per capita | Eurostat online database |
Labour productivity | Eurostat online database |
Net earning | Eurostat online database |
Labour force | World Bank online database (2018) |
Population | Eurostat online database |
Gross fixed capital formation as % of GDP | World Bank online database (2018) |
Exports of goods and services as % of GDP | World Bank online database (2018) |
Net FDI as % of GDP | World Bank online database (2018) |
Inflation rate | World Bank online database (2018) |
Freedom from corruption | The Heritage Foundation online data-base (2018) |
Property rights | The Heritage Foundation online data-base (2018) |
Political stability and absence of violence/terrorism | The Worldwide Governance Indicators, 2018 Update |
Rule of law | The Worldwide Governance Indicators, 2018 Update |
Education | Eurostat online database |
constant | 0.054060 | 0.050654 | 0.044323 | 0.051197 |
ITR on labour | −0.000267 (−0.099449) | −0.001157 (−0.531753) | −0.000709 (−0.255699) | 0.000949 (0.425317) |
gross fixed capital formation as % of GDP | 0.010116 | 0.010166 | 0.004193 | |
net FDI as % of GDP | 0.000804 | 0.000668 (1.378082) | −0.000178 (−0.471777) | |
inflation rate (%) | −0.000588 (−0.566179) | −0.000403 (−0.215770) | 0.001833 (1.232545) | |
exports of goods and services as % of GDP | 0.001495 | 0.002408 | −0.000631 (−0.574221) | |
education | 0.002517 (0.491633) | 0.004509 (1.049560) | ||
property rights | −0.000314 (−0.296678) | 0.000984 (1.160071) | ||
freedom from corruption | 0.001701 (1.110678) | 0.001436 (1.000915) | ||
political stability and absence of violence/terrorism | 0.028526 (1.055195) | 0.058371 | ||
Type of estimation | OLS | OLS | OLS | OLS − FE:CS, PE |
R squared | 0.000098 | 0.406943 | 0.457177 | 0.807484 |
F-test for fixed effects | 5.458867 (0.0000) | |||
Chi-square | 80.855030 (0.0000) |
constant | −0.203270 (−1.335573) | 0.317717 (1.460557) | −0.068231 (−0.286392) | −0.167997 (−0.475036) |
ITR on consumption | −0.238274 | −0.220505 | −0.170775 (−1.350053) | −0.278673 |
ln GDP | −24.13938 | −25.34919 | −11.89827 (−1.372951) | |
net FDI as % of GDP | −0.010642 (−0.569761) | −0.061644 (−1.487132) | −0.008073 (−0.487464) | |
inflation rate (%) | −0.088427 | 0.090828 | −0.009435 (0.148657) | |
ln population | −12.79587 (−0.525513) | −0.090236 (−1.525150) | 17.77091 (0.338661) | |
exports of goods and services as % of GDP | 0.063940 | −0.023657 (−1.407357) | 0.007034 (0.149099) | |
education | 0.371631 | 0.358984 | ||
rule of law | 3.585494 (1.585540) | 1.891728 (0.802947) | ||
political stability and absence of violence/terrorism | −1.647705 | −0.895700 (−0.661616) | ||
Type of estimation | OLS | OLS | OLS | OLS − FE:CS, PE |
R squared | 0.029337 | 0.296575 | 0.466586 | 0.682266 |
F-test for fixed effects | 2.036423 (0.0261) | |||
Chi-square | 40.410545 (0.0011) |