Table 4.

Parameter estimate and the corresponding standard error (in parenthesis) of the indicated model, as well as statistical indicators of goodness-of-fit ($R^2)$ and significance.

	Model 1	Model 2	Model 3	Model 4	Model 5	Model 6
Variable	(Diff3M)	(Diff6M)	(Diff3M)	(Diff6M)	(Diff3M)	(Diff6M)
Health	0.0618	0.0199	0.0312	0.0125	0.0243	0.0064
	(0.141)	(0.145)	(0.149)	(0.154)	(0.150)	(0.155)
Log(Risk)	−1.631	−2.574	−1.477	−2.537	−0.61	−1.773
	(3.026)	(3.111)	(3.056)	(3.156)	(3.239)	(3.353)
Log(StdRisk)	1.712	2.146	1.719	2.148	0.923	1.447
	(2.215)	(2.276)	(2.23)	(2.303)	(2.433)	(2.519)
OECD			1.806	0.437	1.36	0.0449
			(2.766)	(2.857)	(2.827)	(2.927)
Log(GDP)					0.463	0.408
					(0.556)	(0.576)
Constant	18.37	25.6	17.36	25.35	12.49	21.06
	(27.09)	(27.85)	(27.32)	(28.22)	(28.04)	(29.03)
$R^2$	0.026	0.028	0.035	0.029	0.051	0.040
F-statistic	0.376	0.415	0.385	0.31	0.444	0.345
Breusch – Pagan test
${\chi }^2$(1)	4.10	3.92	7.10	4.60	5.29	3.68
Prob $>{\chi }^2$	0.0428	0.0476	0.0077	0.0320	0.0214	0.0551

* p < 0.1, ** p < 0.005, *** p < 0.001.