Table 6 Results of panel VECM of Model 1

∆ECOG

2.828**

1.482

0.344

0.850

0.903

0.727

− 0.814***

(0.023)

(0.204)

(0.847)

(0.493)

(0.460)

(0.573)

(0.000)

∆POLG

2.060*

3.836***

2.581**

0.653

5.177***

1.598

− 0.538**

(0.083)

(0.004)

(0.035)

(0.624)

(0.000)

(0.171)

(0.022)

∆SOCG

5.744***

0.9974

1.516

2.169*

1.632

1.852

− 0.443**

(0.000)

(0.407)

(0.194)

(0.070)

(0.163)

(0.116)

(0.043)

∆Poverty

0.491

0.066

0.528

1.890*

4.339***

2.568**

− 0.520**

(0.742)

(0.991)

(0.714)

(0.104)

(0.001)

(0.036)

(0.012)

∆Unemp

1.260

1.947*

1.276

0.667

4.608***

0.527

− 0.615***

(0.283)

(0.099)

(0.276)

(0.614)

(0.001)

(0.715)

(0.003)

∆HDI

5.708***

2.310*

1.337

3.026**

2.620**

3.570***

− 0.443*

(0.000)

(0.055)

(0.253)

(0.016)

(0.033)

(0.006)

(0.072)

∆Gini

0.468

1.263

0.887

3.421***

0.174

0.584

− 0.314*

(0.759)

(0.282)

(0.470)

(0.008)

(0.951)

(0.673)

(0.101)