Table 6: Fixed effects OLS regression results of GDP per capita of physical capital. Dependent variable Model.8. Model.9. In(GDP per capita) Physical capital With Physical capital With time Human capital, physical dividend periods periods capital, labor supply With dividend periods and interaction of dividend periods and physical capital. Explanatory variables coefficients P>|t| coefficients P>|t| Coefficients P>|t| Constant 8.165 0.000 6.250 0.000 -5.463 0.005 In (Life expectancy) - - 2.538 0.000 In (total trade) 1.712 0.000 0.328 0.000 0.035 0.795 In(Investment) -0.227 0.055 -0.124 0.049 -0.368 0.010 In(support ratio) - - 2.715 0.000 In(years of schooling) - - 0.431 0.000 First dividend period 0.839 0.000 1.041 0.000 Second dividend period 1.342 0.000 2.539 0.605 Period 1971-1980 0.815 0.000 Period 1981-1990 1.707 0.000 Period 1991-2006 2.348 0.000 Interaction (total trade 0.301 0.007 *first div) Interaction (total trade 1.057 0.404 *second div) Inter(Invest *first div) 0.221 0.155 Inter(Invest*second div) -.263 0.930 R-square(within) 0.644 0.90 0.865 R-square(between) 0.209 0.093 0.842
Table 6: Fixed effects OLS regression results of GDP per capita of physical capital. Dependent variable In(GDP per capita) Physical capital With dividend periods Model.8. Physical capital With time periods Model.9. Human capital, physical capital, labor supply With dividend periods and interaction of dividend periods and physical capital. Explanatory variables coefficients P>|t| coefficients P>|t| Coefficients P>|t| Constant 8.165 0.000 6.250 0.000 -5.463 0.005 In (Life expectancy) - - 2.538 0.000 In (total trade) 1.712 0.000 0.328 0.000 0.035 0.795 In(Investment) -0.227 0.055 -0.124 0.049 -0.368 0.010 In(support ratio) - - 2.715 0.000 In(years of schooling) - - 0.431 0.000 First dividend period 0.839 0.000 1.041 0.000 Second dividend period 1.342 0.000 2.539 0.605 Period 1971-1980 0.815 0.000 Period 1981-1990 1.707 0.000 Period 1991-2006 2.348 0.000 Interaction (total trade *first div) 0.301 0.007 Interaction (total trade *second div) 1.057 0.404 Inter(Invest *first div) 0.221 0.155 Inter(Invest*second div) -.263 0.930 R-square(within) 0.644 0.90 0.865 R-square(between) 0.209 0.093 0.842
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