Variables | GDP growth | GDP per capita growth |
---|---|---|
Dependent variables | ||
Investment (gfcf) | − 0.0405*** | − 0.0139*** |
(0.0051) | (0.0005) | |
Population growth (popg) | 6.2430** | 2.5886*** |
(2.2440) | (0.1891) | |
Government consumption (gcon) | − 0.1167* | − 0.0219*** |
(0.0592) | (0.0049) | |
Trade openness (topen) | 0.0061 | 0.0004 |
(0.0051) | (0.0004) | |
Constant | 11.755** | 1.3027** |
(5.5067) | (0.4693) | |
Models’ diagnostic and stability test | ||
Normality test | 0.7087[0.7016] | 1.7814[0.4104] |
Serial correlation | 2.6728 [0.1039] | 2.7964[0.0823] |
Heteroskedasticity test | 0.2797[0.9936] | 0.6255[0.8295] |
Functional form | 1.4264[0.1742] | 1.5986[0.1322] |
CUSUM | Stable | Stable |
CUSUMSQ | Stable | Stable |
ECT(− 1) | − 0.3296*** | − 0.9563*** |
(0.0469) | (0.1207) |