Table 5.

System three stage least squares SURE estimation

Variables	Globalization	Freedoms	Convergence
A. All countries
Globalization		0.0321***	1.0431***
		(0.002)	(0.021)
Freedoms	4.2185***		0.0641
	(0.132)		(0.226)
Convergence	0.4220***	0.0062***
	(0.008)	(0.001)
B. OECD
Globalization		0.0261***	0.7429***
		(0.002)	(0.051)
Freedoms	8.2812***		11.7841***
	(0.555)		(0.893)
Convergence	0.1749***	0.0117***
	(0.017)	(0.001)
C. Non-OECD
Globalization		0.0306***	0.9174***
		(0.003)	(0.024)
Freedoms	3.8271***		−1.9689***
	(0.142)		(0.219)
Convergence	0.4641***	0.0005
	(0.011)	(0.002)

Each block of results correspond to the system (1) estimated by three-stage least squares seemingly unrelated regression (SURE) with iteratively convergence to ML estimates, as in Tables 1, 2 and 3 for the full sample, OECD and non-OECD (blocks A, B and C, respectively). Other regressors’ coefficient estimates are available upon request. Time and countries dummies are included but not presented for reasons of parsimony. Heteroskedastic-consistent standard errors are in parentheses. ***, ** and * denote significant coefficients, respectively at the 1, 5 and 10% confidence levels