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Table 5 Dynamic System GMM Regression Model (Middle Income countries)

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 0.705*** 0.722*** 0.669*** 0.733*** 0.725*** 0.746***
(0.032) (0.032) (0.034) (0.031) (0.030) (0.030)
ln TRit 0.112***     0.141***  
(0.034)     (0.032)  
ln DTit   0.025*     0.017
  (0.013)     (0.013)
ln ITit   −0.012     0.012
  (0.018)     (0.018)
FBit    −0.005***   −0.005*** −0.004***
   (0.001)   (0.001) (0.001)
ln DEBTit     −0.020* −0.032*** −0.025**
    (0.010) (0.009) (0.010)
ln PCGDPit −0.003 0.0005 0.030* −9.37e-05 −0.025 −0.010
(0.016) (0.016) (0.015) (0.017) (0.016) (0.016)
ln AGINGit 0.021 0.026 0.092** 0.043 0.049 0.036
(0.043) (0.042) (0.046) (0.044) (0.037) (0.040)
ln IMRit −0.094*** −0.097*** −0.015 −0.067* − 0.082*** −0.065**
(0.035) (0.034) (0.035) (0.035) (0.030) (0.030)
Constant 0.307 0.540** 0.022 0.482* 0.341 0.468**
(0.250) (0.257) (0.265) (0.274) (0.231) (0.235)
AB test AR(2) (p -level) 0.576 0.549 0.699 0.575 0.659 0.729
Sargan test (p -level) 1.000 1.000 1.000 1.000 1.000 1.000
Observations 37 37 37 37 37 37
No. of Country 405 405 405 405 405 405
  1. Note: Middle income includes the sample of Upper middle-income countries (Please see Table A1). Standard errors in parentheses; ***, **, * denotes the level of significance at 1, 5, and 10% respectively; ln = natural logarithm
  2. Source: Author’s estimation