The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 6 Current account balance: institutional quality—political stability (1996–2013)
Industrial | High income | Developing | Full sample - | Full sample - | Full sample | |
|---|---|---|---|---|---|---|
Industrial | Africa and Industrial | |||||
GDP | .1797 | − .0296 | .1082 | .01332 | − .0337 | .0393 |
(2.29)** | (− .60) | (1.31) | (.19) | (− .39) | (.64) | |
Fiscal balance | − .0623 | .1841 | .2529 | .2674 | .1454 | .2532 |
(− .36) | (1.48) | (1.85)* | (2.12)** | (1.33) | (2.28)** | |
Terms of trade | .0372 | .0028 | .0947 | .0650 | .0573 | .0605 |
(1.04) | (.16) | (4.39)*** | (3.36)*** | (2.94)*** | (3.34)*** | |
Real effective exchange rate | − .0552 | − .0398 | − .1344 | − .1074 | − .1091 | − .1035 |
(− 1.12) | (− 1.04) | (− 4.32)*** | (− 3.35)*** | (− 2.71)*** | (− 3.78)*** | |
Trade openness | − .0729 | − .0113 | − .2254 | − .1006 | − .0677 | − .0951 |
(− 1.35) | (− .50) | (− 4.47)*** | (− 2.76)*** | (− 1.82)* | (− 2.91)*** | |
Relative income | − 29.4922 | − 7.6128 | − 63.9564 | 18.5286 | 16.7302 | − .2062 |
(− 2.01)** | (− .82) | (− .60) | (1.26) | (1.29) | (− .02) | |
Average net crude oil export/GDP | − .0303 | .5128 | .5694 | .6172 | .8676 | .6048 |
(− .08) | (2.00)** | (3.57)*** | (3.88)*** | (3.00)*** | (3.92)*** | |
Total private credit/GDP | − .0444 | − .0265 | − .0918 | − .0285 | − .0262 | − .0327 |
(− 3.27)*** | (− 3.67)*** | (− 2.61)** | (− 2.44)** | (− 2.87)*** | (− 2.67)*** | |
Political stability and absence of violence | .2175 | − .3655 | − 1.3520 | − 1.3147 | − 2.0465 | − 1.1350 |
(.29) | (− .48) | (− 1.44) | (− 1.67)* | (− 2.11)** | (− 1.72)* | |
R-sq | .1641 | .0953 | .3621 | .2595 | .2100 | .2380 |
Number of observations | 226 | 399 | 447 | 619 | 485 | 845 |