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

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Table 8 Fully modified OLS results (trade deficit is dependent variable)

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

VariablesTransport infrastructureTelecommunication infrastructureEnergy infrastructureFinancial infrastructureAggregate infrastructure
Long-run results
 Exchange RATE− 0.840***− 0.684***− 0.843***− 0.979***− 0.418**
 Std. error0.1760.1900.1680.1880.191
 Human capital− 1.187***− 1.253***− 1.106***− 0.999***− 1.215***
 Std. error0.1650.1760.1660.1720.158
 Per capita GDP2.061***2.264***2.089***2.181***1.918***
 Std. error0.1050.1180.1000.1090.107
 Institutional quality1.140***0.577**0.963***1.022***0.832***
 Std. error0.2730.2900.2490.2720.252
 Transport infrastructure− 0.163***    
 Std. error0.068    
 Telecommunication infrastructure − 0.484***   
 Std. error 0.133   
 Energy infrastructure  − 0.009  
 Std. error  0.059  
 Financial infrastructure   − 0.161*** 
 Std. error   0.033 
 Aggregate infrastructure    − 0.330***
 Std. error    0.067
 ADJ. R20.830.810.810.830.82
Dynamic ordinary least square
 Exchange rate− 1.225**− 1.075**− 0.015− 0.595− 1.469
 Std. error0.6680.6630.5750.5380.600
 Human capital− 0.951**− 1.497***− 0.869**− 0.841**− 1.337
 Std. error0.6150.4240.4580.4150.386
 Per capita GDP1.461***1.872***1.972***1.647***1.232
Std. error0.3030.3140.2480.2300.304
 Institutional quality− 0.445− 0.139− 0.001− 0.204− 0.374
 Std. error0.9270.6630.7240.6210.599
 Transport infrastructure− 0.415**    
 Std. error0.113    
 Telecommunication infrastructure − 0.363**   
 Std. error 0.144   
 Energy infrastructure  − 0.149  
 Std. error  0.128  
 Financial infrastructure   0.181*** 
 Std. error   0.074 
 Aggregate infrastructure    − 0.461***
 Std. error    0.469
 ADJ. R20.860.840.860.870.89
  1. ****, ** and * denote the significance at 1%, 5%, and 10%, respectively