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Corruption, Good Governance and Economic Development: Contemporary Analysis and Case Studies
Corruption, Good Governance and Economic Development Table 3.5
Regression analysis with economic growth as dependent variable Dependant variable: Economic growth 1
Initial Per Capita GDP
0.2703
2 −0.7376
3 −1.1700
NON-OECD −1.0665
1.0575
0.9120
0.8819
0.8608
Gross Secondary Enrolments
−3.1905
−0.8113
−0.7053
−1.3542
2.5374
2.1902
2.2353
2.4440
Executive Constraints
−0.1119
−0.1670
−0.0212
−0.0835
0.1999
0.1691
0.1608
0.1991
Energy and Mineral resources (% GDP)
2.1560 5.6740
7.7085 5.8956
9.9687 5.7603 *
8.3036 4.8653 *
Corruption (ICRG)
0.0917
−0.1012
−0.0773 *
0.3399
0.2921
0.2700
0.3093
Population growth
−0.6906
−0.7121
−0.6740
−0.5649
0.1528 *** RI
0.1263 *** 10.5806 3.5696 ***
Investment
−0.1241
0.1346 ***
0.1224 ***
5.2425
6.6260
3.0014 *
4.1725
2.1933
2.0523
0.7552 ***
0.8688 **
Tests ( p-values) Hansen test
0.284
0.207
0.402
0.387
Diff-Hansen
0.194
0.234
0.739
0.647
AR1
0.000
0.000
0.000
0.000
AR2
0.804
0.676
0.965
0.720
Instrument count (collapsed)
49
56
63
63
Countries
91
91
91
71
Observations
583
583
583
426
Note: For GMM-SYS, all variables are treated as potentially endogenous. For all regressions, the instrument count reported is based on the number of ‘collapsed’ instruments. Because of gaps in the panel, orthogonal deviations have been used instead of first differences. Difference-in-Hansen test reports the p-values based on the null hypothesis that the instruments in the levels equation are exogenous. For more details, see Roodman (2006). Coefficients based on the two-step estimation, using the Windmeijer correction. Time dummies employed but not reported. Numbers in italics are robust standard errors. *, **, *** = significant at the 10, 5, and 1% levels respectively.
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