Table 5.
Region | Coefficient | Estimated value | OLS se | tOLS | White se | tWhite |
---|---|---|---|---|---|---|
BRICS | 0.0288 | 0.0152 | 1.8947* | 0.0138 | 2.0869** | |
−0.0028 | 0.0015 | −1.8666* | 0.0017 | −1.6470* | ||
−0.0240 | 0.0203 | −1.1822 | 0.0121 | −1.9834* | ||
ASEAN | 0.0428 | 0.0260 | 1.6461* | 0.0213 | 2.0093** | |
−0.0106 | 0.0038 | −2.7894*** | 0.0082 | −1.2926 | ||
−0.0125 | 0.0054 | −2.3148*** | 0.0079 | −1.5822* |
OLS se (White se) refers to homogeneous (heterogeneous) standard deviations. The estimated coefficients of is for consumer price index, is for disposable income per capita, is for services percent of GDP. ***, **, and *, respectively, indicate significance at the 1, 5, and 10% level.