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Table 1 Dynamic System GMM Regression Model (Full Sample) Dep: ln PHEit

From: Impact of macro-fiscal determinants on health financing: empirical evidence from low-and middle-income countries

VARIABLES (1) (2) (3) (4) (5) (6)
ln PHEit-1 0.650*** 0.655*** 0.658*** 0.630*** 0.679*** 0.674***
(0.014) (0.018) (0.005) (0.014) (0.014) (0.013)
ln TRit 0.057***     0.040***  
(0.017)     (0.014)  
ln DTit   0.025***     0.023***
  (0.004)     (0.008)
ln ITit   −0.037***     −0.061***
  (0.005)     (0.003)
FBit    −0.002***   −0.002*** − 0.003***
   (3.66e-05)   (7.26e-05) (0.0001)
ln DEBTit     0.0003 0.0002 0.0024
    (0.0020) (0.0021) (0.002)
ln PCGDPit −0.003 0.007* 0.020*** 0.012** 0.015* 0.001
(0.007) (0.004) (0.004) (0.005) (0.008) (0.005)
ln AGINGit 0.049*** 0.063*** 0.104*** 0.064*** 0.077** 0.065*
(0.008) (0.018) (0.035) (0.012) (0.038) (0.037)
ln IMRit −0.095*** −0.066*** −0.013 −0.034* − 0.023 − 0.069***
(0.020) (0.017) (0.019) (0.017) (0.027) (0.020)
Constant 0.458*** 0.462*** 0.069 0.281*** 0.042 0.573***
(0.123) (0.099) (0.154) (0.106) (0.203) (0.156)
AB test AR(2) (p -level) 0.233 0.214 0.541 0.222 0.551 0.609
Sargan test (p -level) 1.000 1.000 1.000 1.000 1.000 1.000
Mean VIF 1.69 1.66 1.67 1.76 1.57 1.58
Observations 893 893 893 893 893 893
No. of Country 85 85 85 85 85 85
  1. Note: Sargan Chi-Square test used for over-identified restriction of the instrument in the model, AB test AR (2) to detect autocorrelation in the level series, and mean VIF for multicollinearity. Standard errors in parentheses; ***, **, * denotes the level of significance at 1, 5, and 10% respectively. ln = natural logarithm
  2. Source: Author’s estimation