Table 3.
OLS | ||||||||||
GDP per capita | 3.582* | (2.068) | 3.430 | (2.215) | 3.103* | (1.548) | 3.254* | (1.688) | 3.510* | (2.080) |
Public Health Expenditure | 0.195 | (0.714) | 0.337 | (0.713) | 0.261 | (0.706) | 0.092 | (0.687) | 0.232 | (0.784) |
Female literacy | 0.101*** | (0.030) | 0.093*** | (0.029) | 0.097*** | (0.029) | 0.101*** | (0.030) | 0.093*** | (0.029) |
Sanitation | 2.909* | (1.635) | 3.494** | (1.574) | 3.525** | (1.519) | 3.474** | (1.520) | 3.663** | (1.450) |
Government Effectiveness | 2.007** | (0.899) | ||||||||
Regulatory Quality | 0.833 | (1.283) | ||||||||
Control of Corruption | 1.190 | (0.948) | ||||||||
Rule of Law | 2.362* | (1.234) | ||||||||
Voice and Accountability | 0.776 | (1.151) | ||||||||
Constant | 14.178 | (14.12) | 12.993 | (15.23) | 15.204 | (12.85) | 14.896 | (13.32) | 11.851 | (13.77) |
Adjusted R-squared | 0.45 | 0.44 | 0.44 | 0.46 | 0.44 | |||||
F | 25.01 | 28.15 | 25.76 | 24.45 | 24.85 | |||||
Observations | 372 | 372 | 372 | 372 | 372 | |||||
IV | ||||||||||
GDP per capita | 2.017* | (1.267) | 1.876 | (1.616) | 2.521* | (1.683) | 2.052* | (1.602) | 2.825** | (1.688) |
Public Health Expenditure | 0.601*** | (0.264) | 0.803 | (0.595) | 0.622*** | (0.201) | 0.349* | (0.590) | 0.690 | (0.637) |
Female literacy | 0.131*** | (0.020) | 0.112*** | (0.020) | 0.125*** | (0.021) | 0.134*** | (0.020) | 0.122*** | (0.021) |
Sanitation | 0.551 | (1.364) | 1.832 | (1.281) | 2.306* | (1.321) | 1.550 | (1.268) | 2.342* | (1.348) |
Government Effectiveness | 3.602*** | (0.942) | ||||||||
Regulatory Quality | 3.522*** | (0.847) | ||||||||
Control of Corruption | 1.289* | (0.743) | ||||||||
Rule of Law | 4.448*** | (0.923) | ||||||||
Voice and Accountability | 0.124 | (0.817) | ||||||||
Sargan (p-value) | 0.481 | 0.237 | 0.174 | 0.290 | 0.187 | |||||
Adjusted R-squared | 0.33 | 0.34 | 0.29 | 0.36 | 0.28 | |||||
F | 28.70 | 29.55 | 24.99 | 31.44 | 24.04 | |||||
Observations | 223 | 223 | 223 | 223 | 223 |
Standard errors in parentheses
* p < 0.10, ** p < 0.05, *** p < 0.01