Table 3 Dynamic panel data estimates, two-step system GMM

GDPPC

− 0.002

− 0.010^a

0.004^a

–

GDPPC²

− 2.07e−07

8.62e−07^a

− 3.83e−07^a

–

GINI

0.818^b

0.179

–

37.289

EDUEXP

1.427

− 0.985

0.359

− 101.523

HEXP

0.007

− 0.008^a

0.001

5.690^a

POVHCR

0.253

–

0.081

− 31.323^b

TOP

− 0.047^c

− 0.076

− 0.009

11.022^c

UNEMP

0.425^b

− 0.017

− 0.010

23.808

CRIME

–

0.304

0.223^a

0.679

Constant

− 41.627^a

38.180^b

29.531^a

695.364

Statistical tests

 F-statistics

13.87^a

4.00^a

30.40^a

49.64

 Sargan-Hansen Test

0.413

0.102

0.756

0.848

 AR(1)

0.284

0.059^c

0.651

0.164

 AR(2)

0.132

0.032^b

0.100

0.153