Working Paper Series: Special Edition of 2016 to 2018 Interns

Table 5. OLS and Fixed Effects Estimation Results 41

Variables

OLS

FE

Log per capita GDP

0.806***

0.615***

(0.0465)

(0.0938)

Remittances

-0.0137***

-0.0845**

(0.00492)

(0.0370)

Log openness

-0.0509

-0.0847

(0.0556)

(0.260)

Fiscal Balance

0.00382

0.00760

(0.00763)

(0.00704)

Foreign direct investments

0.00473

0.0179***

(0.00445)

(0.00514)

Log final private consumption

-0.405**

-0.197

(0.190)

(0.211)

Inflation

0.00315

0.00400

(0.00272)

(0.00288)

Population growth

-0.0863**

-0.278

(0.0327)

(0.213)

Intercept

4.029***

5.372**

(1.103)

(2.142)

Observations

90

90

R-squared

0.959

0.778

Number of id

30 42

Robust standard errors in parentheses *** p<0.01, ** p<0.05, * p<0.1

41 All estimations done using the Stata-SE 14 statistical package 42 Missing data for Costa Rice’s final private consumption and Bahamas’ remittances is the reason why the cross section panel was reduced from 32 to 30

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