The following are my STATA commands, dependant variable is delta of log gdp per capita (real) and Im interested in corruption (CPI_est_scale) and interaction term of corruption between democracy (c.polyarchy_scale)
xtabond2 d_ln_gdp_pc l.d_ln_gdp_pc c.CPI_est_scale##c.polyarchy_scale d_money_supply cap_pop openess educ_yrs d_ln_pop i.year_group, gmm(l.d_ln_gdp_pc c.cc_est_scale##c.polyarchy_scale d_money_supply cap_pop openess educ_yrs d_ln_pop) iv(i.year_group, eq(level)) twostep robust
margins, dydx(CPI_est_scale) atmeans at(polyarchy_scale=(0(.5)6))
marginsplot
graph export output/gmm_CPI_est_margins.pdf, replace
this is my STATA output:
Dependant Variable Annual Growth rate of real GDP per capita | (1) | |
Lagged Real GDP/Capita Growth | 0.446*** (0.0745) |
|
Corruption (CPI) ( | -0.0760* (0.0364) |
|
Democracy | -0.0631** | |
(0.0219) | ||
CorruptionCPIxDemocracy | 0.0192* (0.00878) |
|
Delta Money Supply | 0.000771 (0.00111) |
|
Capital Per capita | 0.00000481 (0.00000471) |
|
Economic Freedom | -0.00160 (0.00188) |
|
Educational Attainment | -0.00150 (0.00678) |
|
Population Growth | -0.649** (0.208) |
|
0.year_group | 0 | |
(.) | ||
1.year_group | 0 | |
(.) | ||
2.year_group | 0.0995*** | |
(0.0135) | ||
3.year_group | 0.0317* | |
(0.0133) | ||
4.year_group | 0 | |
(.) | ||
Bureocratic (GE) | ||
Bureocratic (GE) x Demorcacy | ||
_cons | 0.430* | |
Autocorrell-p-values Hansen J-statistic (p-value) |
(0.172) (0.037) (0.200) Robust |
|
N | 331 |
* p < 0.05, ** p < 0.01, *** p < 0.001
Is it correct to intepret these results as follows: At the mean level of democracy of 3.418, the marginal effect of () corruption on economic growth is equal to d (growth rate of real GDP per capita) / d CPI= -0.076+3.418*0.0192= -0.0104, which implies that increasing the corruption score by one standard deviation (1.399), decreases economic growth by 1.45 percentage points? And given theis marginal effects equation: d (growth rate of real GDP per capita) / d CPI= -0.076+DEMOCRACY*0.0192= -0.0104, from a level of 3,96=DEMOCRACY the marginal effect of corrutpion on economic growth rate is positive so greater corruption increaes growth rate of GDPPC? Thanks for any help
0 Response to Interpretation of SYS-GMM coefficients
Post a Comment