Dependent Variable: LN_LEB
Method: Panel EGLS (Cross-section random effects)
Date: 05/01/17 Time: 19:07
Sample: 1990 2015
Periods included: 26
Cross-sections included: 56
Total panel (balanced) observations: 1456
Swamy and Arora estimator of component variances
Variable	Coefficient	Std. Error	t-Statistic	Prob.
C	3.768913	0.019567	192.6153	0.0000
LN_IPC	0.050412	0.002060	24.46688	0.0000
Effects Specification
			S.D.	Rho
Cross-section random			0.093839	0.8154
Idiosyncratic random			0.044652	0.1846
Weighted Statistics
R-squared	0.289621	Mean dependent var		0.384235
Adjusted R-squared	0.289132	S.D. dependent var		0.053220
S.E. of regression	0.044872	Sum squared resid		2.927559
F-statistic	592.7945	Durbin-Watson stat		0.429430
Prob(F-statistic)	0.000000
Unweighted Statistics
R-squared	0.479554	Mean dependent var		4.135306
Sum squared resid	18.62735	Durbin-Watson stat		0.067491