Table 6 Vector error correction models

Vector error correction model: healthcare expenditure

 ECT_1

− 0.3587

− 0.53366

− 0.35205

 Healthcare expend.

[− 3.2460]

[− 4.3981]

[− 2.3215]

 Variable

Fertility rate per birth

Infant mortality rate

Under 5 mortality rate

 ECT_1

− 2.45,229

5.141,797

− 7.06507

[− 2.1999]

[1.56118]

[− 2.11050]

Vector error correction model: education expenditure

 ECT_1

− 0.25870

− 0.65832

− 0.89956

− 0.13930

− 050442

 Education expend.

[− 3.04091]

[− 4.15499]

[− 3.76424]

[− 4.09966]

[− 2.63540]

 Variable

Literacy rate (adult)

Literacy rate (elderly)

Literacy rate (youth)

Primary net enrolment rate

Tertiary gross enrolment rate

 ECT_1

− 1.27301

− 0.39567

− 4.58443

0.17322

− 0.33121

[− 2.01647]

[− 0.72101]

[− 1.58182]

[0.54551]

[− 1.60418]

Vector error correction model: per capita GDP

 ECT_1

− 0.053170

− 0.05306

 Per capita GDP

[− 3.52063]

[− 3.53603]

 Variable

Healthcare expenditure

Education expenditure

 ECT_1

− 0.01953

0.15589

[− 0.28580]

[0.25424]