Primary OLS Regression Analysis

Primary Regression Analysis of Economic Freeedom (model 1), Components of Economic Freedom (areas 1-5)(model 2), Area 5 expanded to sub cat. 5A, 5B, 5C (model 3) and Area 5 expanded to sub cat. 5Ai-iii, 5Bi-vi, 5Ci-vi
Dependent variable:
TFP_index
(1) (2) (3) (4)
primary1.lm primary2.lm primary3.lm primary4.lm
Economic_Freedom_Summary_Index 27.376***
(1.611)
Area_1_Size_of_Government 3.869*** 2.696 -3.384*
(1.369) (1.767) (2.001)
Area_2_Legal_System_and_Property_Rights 18.543*** 26.348*** 19.387***
(1.532) (2.335) (3.727)
Area_3_Sound_Money 7.434*** 6.865*** 5.911**
(1.337) (2.036) (2.345)
Area_4_Freedom_to_trade_internationally 5.555*** 6.425** 16.147***
(1.628) (3.116) (3.919)
Area_5_Regulation -9.530***
(2.024)
A5A_Credit_market_regulations -5.902***
(1.824)
A5B_Labor_market_regulations -12.253***
(1.575)
A5C_Business_regulations 3.647
(2.706)
A5Ai_Ownership_of_banks -4.090***
(0.900)
A5Aii_Private_sector_credit 0.082
(1.171)
A5Aiii_Interest_rate_controls_etc -3.401**
(1.633)
A5Bi_Hiring_regulations_minimum_wage -2.846***
(0.891)
A5Bii_Hiring_and_firing_regulations 6.389***
(2.174)
A5Biii_Centralized_collective_bargaining -3.926**
(1.766)
A5Biv_Hours_Regulations 5.716***
(1.246)
A5Bv_Mandated_cost_of_worker_dismissal -3.379***
(0.769)
A5Bvi_Conscription -6.728***
(0.537)
A5Ci_Administrative_requirements -8.933***
(2.699)
A5Cii_Bureaucracy_costs -5.664***
(1.412)
A5Ciii_Starting_a_business 6.068**
(2.384)
A5Civ_Extra_payments_bribes_favoritism 3.242
(2.603)
A5Cv_Licensing_restrictions 0.286
(1.320)
A5Cvi_Tax_compliance -0.734
(1.236)
scaled_lat -6.489*** -14.280*** -22.171*** -20.877***
(1.085) (1.366) (1.737) (1.839)
Constant -2.537 37.991*** 64.240*** 67.136**
(9.818) (12.055) (19.919) (26.077)
Observations 2,259 2,156 1,606 978
R2 0.114 0.149 0.192 0.390
Adjusted R2 0.113 0.147 0.188 0.377
Residual Std. Error 81.555 (df = 2256) 81.123 (df = 2149) 85.377 (df = 1597) 62.579 (df = 957)
F Statistic 144.563*** (df = 2; 2256) 62.654*** (df = 6; 2149) 47.307*** (df = 8; 1597) 30.535*** (df = 20; 957)
Note: p<0.1; p<0.05; p<0.01





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