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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 7 Fully modified OLS results (export is dependent variable)

From: Does infrastructure increase exports and reduce trade deficit? Evidence from selected South Asian countries using a new Global Infrastructure Index

Variables

Transport infrastructure

Telecommunication infrastructure

Energy infrastructure

Financial infrastructure

Aggregate infrastructure

Long-run results

 Exchange rate

− 0.546***

− 0.469***

− 0.545***

− 0.595***

− 0.126*

 Std. error

0.067

0.070

0.069

0.052

0.071

 Human capital

0.441***

0.336***

0.343***

0.505***

0.329***

 Std. error

0.060

0.063

0.065

0.046

0.056

 Per capita GDP

1.181***

1.254***

1.152***

1.210***

0.975***

 Std. error

0.040

0.043

0.041

0.306

0.040

 Institutional quality

0.614***

0.507***

0.675***

0.592***

0.467***

 Std. error

0.090

0.098

0.096

0.071

0.088

 Transport infrastructure

0.025

    

 Std. error

0.026

    

 Telecommunication infrastructure

 

0.240***

   

 Std. error

 

0.048

   

 Energy infrastructure

  

0.091***

  

 Std. error

  

0.020

  

 Financial infrastructure

   

0.089***

 

 Std. error

   

0.009

 

 Aggregate infrastructure

    

0.305***

 Std. error

    

0.024

 ADJ. R2

0.84

0.84

0.84

0.85

0.86

Dynamic ordinary least square

 Exchange rate

− 0.443**

− 0.531***

− 0.560***

− 0.480***

− 0.473***

 Std. error

0.264

0.242

0.224

0.209

0.210

 Human capital

0.735***

0.609***

0.727***

0.606***

0.460***

 Std. error

0.288

0.204

0.192

0.185

0.143

 Per capita GDP

1.143***

1.196***

1.204***

1.197***

0.748***

 Std. error

0.150

0.159

0.129

0.109

0.130

 Institutional quality

0.038

0.396

0.165

0.008

0.009

 Std. error

0.456

0.340

0.355

0.265

0.242

 Transport infrastructure

0.183

    

 Std. error

0.209

    

 Telecommunication infrastructure

 

0.016

   

 Std. error

 

0.175

   

 Energy infrastructure

  

0.073**

  

 Std. error

  

0.014

  

 Financial infrastructure

   

0.123***

 

 Std. error

   

0.036

 

 Aggregate infrastructure

    

0.357***

 Std. error

    

0.067

 ADJ. R2

0.84

0.85

0.84

0.85

0.86

  1. ****, ** and * denote the significance at 1%, 5%, and 10%, respectively