Table 3.

Results of POLS, fixed and random effects, and system GMM

VARIABLES	POLS	POLS	FE	FE	RE	RE	GMM	GMM
	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)
lnGini	− 0.248*	− 0.264**	− 0.234*	− 0.360***	− 0.248*	− 0.264**	− 0.0806**	− 0.373**
	(0.131)	(0.131)	(0.138)	(0.139)	(0.131)	(0.131)	(0.0409)	(0.185)
lnlag1TFP	0.475***	0.457***	0.461***	0.433***	0.475***	0.457***	0.781***	0.681***
	(0.0272)	(0.0274)	(0.0281)	(0.0283)	(0.0272)	(0.0274)	(0.0511)	(0.0608)
lnTrade	–	0.0310**	–	0.0507***	–	0.0310**	–	0.0973***
		(0.0122)		(0.0177)		(0.0122)		(0.0364)
lnHIV/AIDS	–	− 0.0282	–	− 0.0327	–	− 0.0282	–	− 0.205***
		(0.0179)		(0.0203)		(0.0179)		(0.0501)
lnEDUCAT	–	0.0474***	–	0.127***	–	0.0474***	–	0.0864**
		(0.0180)		(0.0294)		(0.0180)		(0.0407)
Constant	− 0.0767	− 0.378**	− 0.0690	− 0.988***	− 0.0767	− 0.378**	–	–
	(0.0680)	(0.186)	(0.0716)	(0.262)	(0.0680)	(0.186)
Observations	1092	1092	1092	1092	1092	1092	1092	1092
R-squared	0.219	0.232	0.206	0.229	0.219	0.232
Hausman test (χ2)					17.24***
					[0.004]
Wald χ2							243.69	281.57
AR(1)							− 10.61	− 9.34
AR(2)							1.58	1.08
Sargan statistic							140.38***	131.2***
							[0.000]	[0.000]

Standard errors in parentheses, ***p < 0.01, **p < 0.05, *p < 0.1

The Hausman test is performed for regression (4) and (6). $H_0$: RE is appropriate

P-values in []