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Table 3 GDP per capita growth models with commodity boom and Latin American dummies and breakdown of commodity exports

From: Does the commodities boom support the export led growth hypothesis? Evidence from Latin American countries

Variables Model ore Model agri Model fuel Model food Model manu
Constant 0.5207 0.2199 0.3791 1.3822* 0.3157 
Capital formation 0.1238*** 0.1226*** 0.1239*** 0.1231*** 0.1251***
Export growth 0.1493*** 0.1515*** 0.1520*** 0.1446*** 0.1391***
Trade partner growth −0.0061 −0.0055 −0.0078 −0.0035 −0.0077
GDP 1990 0.0092 0.0157  0.0251  −0.0681  −0.1237*
Boom comm. period dummy −0.0395 0.1728 −0.1946 0.1026 0.2171
LAC × boom −0.3265 0.3340 −0.2970 0.1358 0.8854
Capital formation × boom −0.0228 −0.0220 −0.0251 −0.0243 −0.0232
Export growth × boom 0.0433** 0.0420** 0.0432** 0.0426** 0.0389**
Trade partner growth × boom 0.0599*** 0.0594*** 0.0610*** 0.0572*** 0.0606***
Capital formation × LAC × boom 0.0078 0.0076 0.0086 0.0085 0.0075
Export growth × LAC × boom 0.0272 0.0317 0.0320 0.0363 0.0351
Trade partner growth × LAC × boom 0.0009 −0.0046 −0.0010 −0.0054 0.0006
DEXPO_? −0.0533*** −0.0534*** −0.0548*** −0.0506*** −0.0482***
DEXPO_?(1) 0.0114 0.0127 0.0120 0.0106 0.0077
DEXPO_?(−1) −0.0307*** −0.0303*** −0.0311*** −0.0289*** −0.0277***
Ore and mineral exports −0.0297***     
Ore and mineral exports × boom 0.0095     
Ore and mineral exports × boom × LAC 0.0276**     
Agricultural raw mat. exports   0.0080    
Agricultural raw mat. exports × boom   −0.0283**    
Agricultural raw mat. exports × boom × LAC   −0.1437**    
Fuel exports    −0.0159***   
Fuel exports × boom    0.0179***   
Fuel exports × boom × LAC    0.0085   
Food exports     −0.0180***  
Food exports × boom     −0.0110*  
Food exports × boom × LAC     −0.0003  
Manufactured exports      0.0220***
Manufactured exports × boom      −0.0043
Manufactured exports × boom × LAC      −0.0194***
R 2 0.4596 0.4568 0.4600 0.4656 0.4716
Adjusted R 2 0.4535 0.4507 0.4539 0.4594 0.4656
Log likelihood −3856 −3868 −3843 −3855 −3846
F-statistic 74.79 74.15 74.77 76.79 78.69
Prob (F-statistic) 0.0000 0.0000 0.0000 0.0000 0.0000
Akaike info criterion 4.8383 4.8410 4.8312 4.8249 4.8134
Schwarz criterion 4.9021 4.9046 4.8950 4.8885 4.8771
Hannan-Quinn criter. 4.8619 4.8646 4.8549 4.8485 4.8370
Durbin-Watson stat 1.2698 1.2537 1.2679 1.2744 1.2968
  1. ***, **, * Mean statistical significance at 1, 5 and 10 %