Public Spending, Corruption, and Human Development: Empirical Evidence in Middle-Income Countries
Table 6: Estimation Result from Two-step system GMM: Dependent Variable HD, measured by HDI.
|
Without Interaction Term |
With Interaction Term |
|
CPI(1) |
CPI(3) |
| CORR |
-0.00004**(0.00006) |
-0.0006***(0.0004) |
| PSH |
-0.0001(0.0003) |
0.0038***(0.0046) |
| CORR x PSH |
|
-0.00006***(0.00007) |
| PSE |
0.00039***(0.0004) |
0.0043***(0.0037) |
| CORR x PSE |
|
-0.00006***(0.00005) |
| GDP |
0.0004***(0.0001) |
0.0005***(0.0001) |
| ELECT |
-0.00002(0.00006) |
0.0001***(0.00009) |
| EMISS |
0.0010***(0.0006) |
0.0015***(0.0008) |
| Constant |
0.0094***(0.0071) |
-0.0312***(0.0248) |
| HD(t-1) |
0.9935***(0.0124) |
0.9788***(0.0155) |
| Observation |
343 |
343 |
| Group/ Instruments |
49/46 |
49/46 |
| AB Test for AR1 |
0.001 |
0.001 |
| AB test for AR2 |
0.311 |
0.544 |
| Sargan (Prob > χ2) |
0.000 |
0.000 |
| Hansen (Prob > χ2) |
0.144 |
0.121 |
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