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Table 3 Coefficient of variation of social expenditure growth

From: Determinants of social spending in Latin America during and after the Washington consensus: a dynamic panel error-correction model analysis

Tests Total social expenditure Education expenditure Health expenditure Social security expenditure Housing and other expenditure
Coefficient of variation 1991–2012 (average) 1.496 1.341 1.067 1.677 0.524
Augmented Dickey–Fuller, z(t) − 3.230** (0.018) − 3.771*** (0.003) − 3.586*** (0.006) − 3.114** (0.025) − 3.792*** (0.003)
Phillips–Perron, z(t) − 3.780*** (0.003) − 5.452*** (0.000) − 4.574*** (0.000) − 4.553*** (0.000) − 3.907*** (0.002)
  1. pp. Number of lags was selected using the AIC criterion. p values in parenthesis. ***, ** and * denote statistical significance at the 1, 5 and 10% levels, respectively for stationary variables