Table 4.

1
Descriptive Statistics

GINI GDRP LNFDI LNDDI HDI

 Mean  0.358204  0.053243  29.18708  28.69963  69.79929
 Median  0.355000  0.053000  29.36020  28.89520  69.95000
 Maximum  0.436000  0.217600  32.08690  31.75970  80.76000
 Minimum  0.266000 -0.157400  24.04770  22.89800  57.25000
 Std. Dev.  0.036805  0.030409  1.585728  1.722524  4.113276
 Skewness  0.007432 -0.445005 -0.445997 -0.852303  0.033912
 Kurtosis  2.415546  24.62344  2.861373  4.080443  4.202765
 Jarque-Bera  2.406895  3298.072  5.738036  28.68100  10.21918
 Probability  0.300158  0.000000  0.056755  0.000001  0.006039
 Sum  60.53650  8.998000  4932.617  4850.238  11796.08
 Sum Sq. Dev.  0.227574  0.155355  422.4417  498.4709  2842.399
 Observations  169  169  169  169  169

Table 4.2
Multicollinearity Test

GDRP LNFDI LNDDI HDI INF

GDRP  1.000000  0.030524 -0.075492 -0.034200  0.058250
LNFDI  0.030524  1.000000  0.482873  0.224163 -0.040756
LNDDI -0.075492  0.482873  1.000000  0.451561 -0.104711
HDI -0.034200  0.224163  0.451561  1.000000 -0.071414
INF  0.058250 -0.040756 -0.104711 -0.071414  1.000000

Table 4.3
Heteroscedasticity Test

Dependent Variable: RESABS

Method: Panel Least Squares
Date: 02/08/23 Time: 13:24
Sample: 2015 2019
Periods included: 5
Cross-sections included: 34
Total panel (unbalanced) observations: 169

Variable CoefficientStd. Error t-Statistic Prob.  

C 0.087148 0.037312 2335659 0.0210
GDRP 0.003000 0.016182 0.185400 0.8532
LNFDI -0.000412 0.000726 -0.568190 0.5709
LNDDI -0.000685 0.000546 -1253146 0.2124
HDI -0.000718 0.000546 -1313045 0.1915
INF 0.047406 0.037141 1276382 0.2041

Effects Specification
Cross-section fixed (dummy variables)
R-squared 0.381445     Mean dependent var 0.006924
Adjusted R-squared 0.200637     S.D. dependent var 0.005726
S.E. of regression 0.005119     Akaike info criterion -7512494
Sum squared resid 0.003407     Schwarz criterion -6790210
Log likelihood 6738058     Hannan-Quinn criter. -7219378
F-statistic 2109666     Durbin-Watson stat 2362959
Prob(F-statistic) 0.001039

Table 4.4
Chow Test

Effects Test Statistic   d.f.  Prob. 

Cross-section F 59942999 -33.13 0.0000
Cross-section Chi-square 470836854 33 0.0000

Table 4.5
Hausman Test

Test Summary Chi-Sq. Statistic Chi-Sq. d.f. Prob. 

Cross-section random 15877102 5 0.0072

Table 4.6
Multiple Linear Regression

Dependent Variable: GINI

Method: Panel Least Squares
Sample: 2015 2019
Periods included: 5
Cross-sections included: 34
Total panel (unbalanced) observations: 169

Variable CoefficientStd. Error t-Statistic Prob.  

C 0.662066 0.073937 8954493 0.0000
GDRP -0.036005 0.032066 -1122837 0.2636
LNFDI 0.002035 0.001438 1415321 0.1594
LNDDI 0.003248 0.001083 2999011 0.0032
HDI -0.006518 0.001083 -6019163 0.0000
INF 0.013983 0.073598 0.189995 0.8496

Effects Specification
Cross-section fixed (dummy variables)
R-squared 0.941219     Mean dependent var 0.358204
Adjusted R-squared 0.924037     S.D. dependent var 0.036805
S.E. of regression 0.010144     Akaike info criterion -6144706
Sum squared resid 0.013377     Schwarz criterion -5422422
Log likelihood 5582277     Hannan-Quinn criter. -5851589
F-statistic 5477934     Durbin-Watson stat 1494313
Prob(F-statistic) 0.000000
INF
 0.029361
 0.029600
 0.067500
-0.000500
 0.013243
 0.142662
 3.237407
 0.970142
 0.615653
 4.962000
 0.029465
 169