for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table...
Transcript of for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table...
![Page 1: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/1.jpg)
Tab
le 3
a. D
eter
min
ants
of T
rans
pare
ncy:
Lin
ear
Reg
ress
ion
Mod
els
for
1998
-200
4 A
vera
ge
I
II
III
IV
Con
stan
t -6
.92*
-7
.43*
-5
.59*
-4
.81
(-
2.78
) (-
3.08
) (-
2.84
) (-
1.77
) Pa
st in
flatio
n 2.
20
1.44
2.
94
3.49
(1.0
3)
(0.7
1)
(1.5
7)
(1.5
7)
Ope
nnes
s -0
.01
-0.0
1 -0
.01
-0.0
1
(-1.
12)
(-1.
40)
(-1.
42)
(-1.
07)
Fina
ncia
l Dep
th
-0.0
0 0.
00
0.00
-0
.00
(-
0.23
) (0
.08)
(0
.50)
(-
0.42
) G
DP
per C
apita
1.
19*
1.31
* 0.
88*
0.80
*
(3.3
5)
(4.0
8)
(3.3
0)
(1.9
2)
Rul
e of
Law
0.
02
(1.5
7)
Po
litic
al S
tabi
lity
0.
02
(1.3
5)
Voi
ce a
nd A
ccou
ntab
ility
0.
05*
(4.4
4)
G
over
nmen
t Eff
icie
ncy
0.
05*
(2.3
5)
R
-Squ
ared
0.
43
0.43
0.
53
0.45
*
deno
tes s
igni
fican
ce a
t 5%
![Page 2: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/2.jpg)
Tab
le 3
b. D
eter
min
ants
of T
rans
pare
ncy:
Lin
ear
Reg
ress
ion
Mod
els
for
1998
-200
4 A
vera
ge
I
II
III
IV
Con
stan
t -8
.69*
-9
.49*
-7
.29*
-7
.01*
(-3.
31)
(-3.
85)
(-3.
12)
(-2.
46)
Past
infla
tion
-1.1
7 -1
.90
-0.5
0 0.
02
(-
0.53
) (-
0.88
) (-
0.24
) (0
.01)
Ex
chan
ge R
ate
Reg
ime
0.29
* 0.
30*
0.24
* 0.
28*
(4
.66)
(4
.77)
(4
.09)
(4
.52)
Fi
nanc
ial D
epth
-0
.00
-0.0
0 0.
00
-0.0
1
(-0.
63)
(-0.
37)
(0.3
0)
(-0.
85)
GD
P pe
r Cap
ita
1.10
* 1.
25*
0.86
* 0.
80
(3
.07)
(3
.88)
(2
.81)
(1
.90)
R
ule
of L
aw
0.03
(1
.66)
Polit
ical
Sta
bilit
y
0.02
(1
.43)
V
oice
and
Acc
ount
abili
ty
0.04
*
(3
.41)
Gov
ernm
ent E
ffic
ienc
y
0.04
*
(2
.18)
R-S
quar
ed
0.55
0.
54
0.60
0.
56
* de
note
s sig
nific
ance
at 5
%
![Page 3: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/3.jpg)
Tab
le 3
c. D
eter
min
ants
of T
rans
pare
ncy:
Lin
ear
Reg
ress
ion
Mod
els
for
1998
-200
4 A
vera
ge
I
II
III
IV
Con
stan
t -9
.41
-10.
07
-7.9
7*
-7.5
7
(-3.
50)
(-3.
80)
(-3.
16)
(-2.
61)
Past
infla
tion
-1.6
7 -2
.23
-0.8
3 -0
.36
(-
0.74
) (-
1.00
) (-
0.38
) (-
0.15
) O
penn
ess
0.00
0.
00
0.00
0.
00
(0
.78)
(0
.41)
(0
.28)
(0
.78)
Ex
chan
ge R
ate
Reg
ime
0.32
* 0.
32*
0.26
* 0.
30*
(4
.85)
(4
.83)
(3
.98)
(4
.73)
Fi
nanc
ial D
epth
-0
.01
-0.0
0 0.
00
-0.0
1
(-0.
74)
(-0.
33)
(0.2
2)
(-0.
94)
GD
P pe
r Cap
ita
1.13
* 1.
27*
0.94
* 0.
79
(3
.15)
(3
.85)
(2
.94)
(1
.91)
R
ule
of L
aw
0.03
(1
.74)
Polit
ical
Sta
bilit
y
0.02
(1
.40)
V
oice
and
Acc
ount
abili
ty
0.04
*
(3
.01)
Gov
ernm
ent E
ffic
ienc
y
0.04
*
(2
.34)
R-S
quar
ed
0.57
0.
56
0.61
0.
59
* de
note
s sig
nific
ance
at 5
%
![Page 4: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/4.jpg)
Tab
le 3
d. D
eter
min
ants
of T
rans
pare
ncy:
Lin
ear
Reg
ress
ion
Mod
els
for
1998
-200
4 A
vera
ge
I
II
III
IV
Con
stan
t -7
.02*
-8
.04*
-5
.51*
-4
.87
(2
.46)
(2
.83)
(-
2.13
) (-
1.60
) Pa
st in
flatio
n -0
.65
-1.2
7 0.
35
0.83
(-0.
27)
(-0.
52)
(0.1
5)
(0.3
3)
Ope
nnes
s -0
.01*
-0
.01*
-0
.01*
-0
.01*
(-2.
17)
(-2.
28)
(-2.
12)
(-2.
13)
Ope
nnes
s*ER
Reg
ime
0.
00*
0.00
* 0.
00*
0.00
*
(3.1
8)
(3.0
6)
(2.3
0)
(3.1
4)
Fina
ncia
l Dep
th
-0.0
0 0.
00
0.00
-0
.00
(-
0.38
) (0
.01)
(0
.57)
(-
0.62
) G
DP
per C
apita
1.
14*
1.35
* 0.
87*
0.73
(2.9
3)
(3.7
4)
(2.5
3)
(1.6
2)
Rul
e of
Law
0.
03
(1.7
0)
Po
litic
al S
tabi
lity
0.
02
(1.1
3)
Voi
ce a
nd A
ccou
ntab
ility
0.
04*
(3.2
8)
G
over
nmen
t Eff
icie
ncy
0.
05*
(2.4
6)
R
-Squ
ared
0.
49
0.48
0.
55
0.52
*
deno
tes s
igni
fican
ce a
t 5%
![Page 5: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/5.jpg)
Tab
le 4
a. F
urth
er D
eter
min
ants
of T
rans
pare
ncy:
Lin
ear
Reg
ress
ion
Mod
els
for
1998
-200
4 A
vera
ge
I
II
III
IV
V
VI
Con
stan
t -6
.64*
-6
.08*
-4
.73
-6.5
0*
-4.7
1 -4
.45
(2
.59)
(-
2.66
) (-
1.73
) (-
2.96
) (-
1.70
) (-
176)
Pa
st in
flatio
n 2.
09
2.72
3.
65
2.91
3.
43
3.57
*
(0.9
7)
(1.3
9)
(1.6
2)
(1.5
5)
(1.5
2)
(1.7
3)
Ope
nnes
s -0
.00
-0.0
1 -0
.01
-0.0
1 -0
.01
-0.0
1
(-1.
22)
(-1.
40)
(-1.
01)
(-1.
05)
(-1.
08)
(-1.
40)
Fina
ncia
l Dep
th
-0.0
0 0.
00
-0.0
0 0.
00
-0.0
0 0.
00
(-
0.14
) (0
.59)
(-
0.40
) (0
.53)
(-
0.38
) (0
.29)
G
DP
per C
apita
1.
16*
0.96
* 0.
77
1.01
* 0.
79
0.68
(3.1
8)
(2.9
2)
(1.8
4)
(3.3
6)
(1.8
7)
(1.7
5)
Rul
e of
Law
0.
02
-0.0
1 -0
.02
(0.9
2)
(-0.
43)
(-0.
60)
Po
litic
al S
tabi
lity
0.01
-0
.01
0.00
(0
.49)
(-
0.94
) (0
.22)
Voi
ce a
nd A
ccou
ntab
ility
0.05
*
0.05
*
0.04
*
(4
.09)
(4.2
8)
(3
.70)
G
over
nmen
t Eff
icie
ncy
0.06
*
0.04
0.
01
(1
.82)
(1.9
0)
(0.7
3)
R
-Squ
ared
0.
44
0.53
0.
46
0.54
0.
46
0.54
*
deno
tes s
igni
fican
ce a
t 5%
![Page 6: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/6.jpg)
Tab
le 4
b. F
urth
er D
eter
min
ants
of T
rans
pare
ncy:
Lin
ear
Reg
ress
ion
Mod
els
for
1998
-200
4 A
vera
ge
I
II
III
IV
V
VI
Con
stan
t -8
.56*
-7
.51*
-6
.95*
-7
.52*
-6
.96
-6.4
6*
(-
3.23
) (-
2.98
) (-
2.41
) (-
3.12
) (-
2.42
) (-
2.35
) Pa
st in
flatio
n -1
.33
-0.5
7 0.
15
-0.4
1 -0
.15
-0.0
5
(-0.
59)
(-0.
27)
(0.0
6)
(-0.
20)
(0.0
6)
(-0.
02)
ER R
egim
e D
umm
y 0.
29*
0.24
* 0.
27*
0.24
* 0.
28*
0.24
*
(4.6
6)
(3.9
9)
(4.4
3)
(3.8
6)
(4.4
9)
(4.0
8)
Fina
ncia
l Dep
th
-0.0
0 0.
00
-0.0
1 0.
00
-0.0
1 0.
00
(-
0.59
) (0
.37)
(-
0.84
) (0
.38)
(-
0.81
) (0
.04)
G
DP
per C
apita
1.
08*
0.90
* 0.
79
0.90
* 0.
79
0.71
(2.9
7)
(2.5
9)
(1.8
5)
(2.8
0)
(1.8
7)
(1.7
7)
Rul
e of
Law
0.
02
-0.0
0 -0
.01
(0.9
6)
(-0.
25)
(-0.
25)
Po
litic
al S
tabi
lity
0.01
-0
.01
0.00
(0
.49)
(-
0.43
) (0
.36)
Voi
ce a
nd A
ccou
ntab
ility
0.04
*
0.04
*
0.04
*
(2
.91)
(3.0
6)
(2
.59)
G
over
nmen
t Eff
icie
ncy
0.05
*
0.04
* 0.
01
(1
.39)
(1.6
5)
(0.5
8)
R
-Squ
ared
0.
55
0.60
0.
56
0.60
0.
56
0.60
*
deno
tes s
igni
fican
ce a
t 5%
![Page 7: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/7.jpg)
Tab
le 4
c. F
urth
er D
eter
min
ants
of T
rans
pare
ncy:
Lin
ear
Reg
ress
ion
Mod
els
for
1998
-200
4 A
vera
ge
I
II
III
IV
V
VI
Con
stan
t -9
.21*
-7
.96*
-7
.51*
-8
.14*
-7
.49*
-6
.80*
(-3.
33)
(-2.
99)
(-2.
56)
(-3.
08)
(-2.
54)
(-2.
38)
Past
infla
tion
-1.7
1 -0
.83
-0.2
0 -0
.81
-0.4
3 -0
.19
(-
0.75
) (-
0.38
) (-
0.08
) (-
0.37
) (-
0.18
) (-
0.08
) O
penn
ess
0.00
0.
00
0.00
0.
00
0.00
0.
00
(0
.59)
(0
.28)
(0
.79)
(0
.33)
(0
.65)
(0
.34)
ER
Reg
ime
Dum
my
0.32
* 0.
26*
0.30
* 0.
26*
0.30
* 0.
26*
(4
.81)
(3
.89)
(4
.65)
(3
.86)
(4
.69)
(4
.02)
Fi
nanc
ial D
epth
-0
.00
0.00
-0
.01
0.00
-0
.01
-0.0
0
(-0.
63)
(0.2
0)
(-0.
94)
(0.2
4)
(-0.
87)
(-0.
13)
GD
P pe
r Cap
ita
1.11
* 0.
94*
0.77
0.
96*
0.78
0.
71
(3
.02)
(2
.64)
(1
.84)
(2
.85)
(1
.86)
(1
.76)
R
ule
of L
aw
0.02
0.
00
-0.0
3
(1
.08)
(0
.02)
(-
0.33
)
Polit
ical
Sta
bilit
y 0.
01
-0.0
0 0.
00
(0.3
7)
(-0.
24)
(0.2
2)
V
oice
and
Acc
ount
abili
ty
0.
04*
0.
04*
-6
.80*
(2
.38)
(2.6
1)
(-
2.38
) G
over
nmen
t Eff
icie
ncy
0.06
0.04
-0
.19
(1
.56)
(1.8
5)
(-0.
08)
R
-Squ
ared
0.
57
0.61
0.
59
0.61
0.
59
0.61
*
deno
tes s
igni
fican
ce a
t 5%
![Page 8: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/8.jpg)
Tab
le 4
d. F
urth
er D
eter
min
ants
of T
rans
pare
ncy:
Lin
ear
Reg
ress
ion
Mod
els
for
1998
-200
4 A
vera
ge
I
II
III
IV
V
VI
Con
stan
t -6
.99*
-5
.71*
-4
.78*
-6
.07*
-4
.94
-4.3
1
(-2.
37)
(-2.
07)
(-1.
56)
(-2.
22)
(-1.
59)
(-1.
45)
Past
infla
tion
-0.6
5 0.
30
1.10
0.
37
0.87
0.
98
(-
0.26
) (0
.13)
(0
.43)
(0
.16)
(0
.34)
(0
.40)
O
penn
ess
-0.0
1*
-0.0
1*
-0.0
1*
-0.0
1 -0
.01
-0.0
1*
(-
2.06
) (-
2.08
) (-
2.06
) (-
1.79
) (-
1.97
) (-
2.13
) O
penn
ess*
ER R
egim
e
0.00
* 0.
00*
0.00
* 0.
00*
0.00
* 0.
00*
(3
.13)
(2
.21)
(3
.09)
(2
.24)
(3
.11)
(2
.38)
Fi
nanc
ial D
epth
-0
.00
0.00
-0
.00
0.00
-0
.01
0.00
(-0.
36)
(0.6
0)
(-0.
62)
(0.5
9)
(-0.
63)
(0.2
1)
GD
P pe
r Cap
ita
1.14
* 0.
90*
0.00
* 0.
94*
0.73
0.
64
(2
.86)
(2
.37)
(1
.54)
(2
.59)
(1
.62)
(1
.47)
R
ule
of L
aw
0.03
-0
.00
-0.0
2
(1
.25)
(-
0.21
) (-
0.55
)
Polit
ical
Sta
bilit
y 0.
00
-0.0
1 -0
.00
(0.0
5)
(-0.
65)
(-0.
16)
V
oice
and
Acc
ount
abili
ty
0.
04*
0.
05*
0.
03
(2.7
3)
(3
.10)
(2.2
3)
Gov
ernm
ent E
ffic
ienc
y
0.
07
0.
05*
0.02
(1.8
1)
(2
.415
) (0
.83)
R-S
quar
ed
0.49
0.
55
0.52
0.
55
0.52
0.
55
* de
note
s sig
nific
ance
at 5
%
![Page 9: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/9.jpg)
Tab
le 5
a. D
eter
min
ants
of T
rans
pare
ncy,
Fix
ed E
ffec
ts M
odel
s
I
II
III
IV
Con
stan
t -2
7.23
-3
2.82
-3
3.63
-3
3.48
(-0.
08)
(-0.
10)
(-0.
10)
(-0.
10)
Past
infla
tion
-0.1
0 0.
10
0.08
-0
.03
(-
0.30
) (0
.27)
(0
.21)
(-
0.09
) O
penn
ess
0.00
0.
01
0.00
0.
00
(0
.48)
(1
.18)
(0
.82)
(0
.77)
Fi
nanc
ial D
epth
-0
.00
-0.0
0 -0
.00
-0.0
0
(-0.
35)
(-0.
49)
(-0.
28)
(-0.
37)
GD
P pe
r Cap
ita
3.87
* 4.
31*
4.38
* 4.
40*
(8
.82)
(9
.75)
(1
0.11
) (1
0.16
) R
ule
of L
aw
-0.0
4*
(-4.
37)
Po
litic
al S
tabi
lity
-0
.01
(-1.
47)
Voi
ce a
nd A
ccou
ntab
ility
-0
.01
(-0.
56)
G
over
nmen
t Eff
icie
ncy
-0
.01
(-1.
24)
H
ausm
ann
test
14
.61*
20
.48*
28
.11*
23
.10*
R
-Squ
ared
0.
97
0.97
0.
97
0.97
*
deno
tes s
igni
fican
ce a
t 5%
![Page 10: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/10.jpg)
Tab
le 5
b. D
eter
min
ants
of T
rans
pare
ncy,
Fix
ed E
ffec
ts M
odel
s
I
II
III
IV
Con
stan
t -3
4.52
-4
0.65
-4
1.50
-4
0.87
(-0.
09)
(-0.
11)
(-0.
11)
(-0.
11)
Past
infla
tion
-0.0
3 0.
10
0.10
-0
.04
(-
0.09
) (0
.25)
(0
.27)
(-
0.11
) ER
Reg
ime
Dum
my
0.09
* 0.
12*
0.12
* 0.
11*
(2
.52)
(3
.41)
(3
.39)
(3
.19)
Fi
nanc
ial D
epth
-0
.00
-0.0
0 -0
.00
-0.0
0
(-0.
16)
(-0.
10)
(-0.
13)
(-0.
19)
GD
P pe
r Cap
ita
4.61
* 5.
05*
5.11
* 5.
15*
(9
.35)
(1
0.41
) (1
0.70
) (1
0.79
) R
ule
of L
aw
-0.0
4*
(-3.
22)
Po
litic
al S
tabi
lity
-0
.00
(-0.
47)
Voi
ce a
nd A
ccou
ntab
ility
0.
00
(0.3
3)
G
over
nmen
t Eff
icie
ncy
-0
.01
(-1.
27)
H
auss
man
n te
st
15.9
6*
22.6
1*
25.5
8*
23.7
0*
R-S
quar
ed
0.97
0.
97
0.97
0.
97
* de
note
s sig
nific
ance
at 5
%
![Page 11: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/11.jpg)
Tab
le 5
c. D
eter
min
ants
of T
rans
pare
ncy,
Fix
ed E
ffec
ts M
odel
s
I
II
III
IV
Con
stan
t -3
4.37
-4
0.44
-4
1.16
-4
0.26
(-0.
09)
(-0.
11)
(-0.
11)
(-0.
11)
Past
infla
tion
-0.0
8 0.
05
0.06
-0
.08
(-
0.22
) (0
.14)
(0
.16)
(-
0.19
) O
penn
ess
-0.0
0 0.
00
0.00
0.
00
(-
0.01
) (0
.34)
(0
.34)
(0
.39)
ER
Reg
ime
Dum
my
0.10
* 0.
13*
0.12
* 0.
12*
(2
.76)
(3
.63)
(3
.56)
(3
.39)
Fi
nanc
ial D
epth
-0
.01
-0.0
1 -0
.01
-0.0
1
(-0.
83)
(-0.
88)
(-0.
92)
(-0.
96)
GD
P pe
r Cap
ita
4.63
* 5.
04*
5.07
* 5.
10*
(9
.00)
(9
.90)
(1
0.09
) (1
0.14
) R
ule
of L
aw
-0.0
4*
(-3.
08)
Po
litic
al S
tabi
lity
-0
.00
(-0.
14)
Voi
ce a
nd A
ccou
ntab
ility
0.
01
(0.7
0)
G
over
nmen
t Eff
icie
ncy
-0
.01
(-1.
19)
H
auss
man
n te
st
15.2
9*
20.5
2*
22.7
4*
21.1
7*
R-S
quar
ed
0.97
0.
97
0.97
0.
97
* de
note
s sig
nific
ance
at 5
%
![Page 12: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/12.jpg)
Tab
le 5
d. D
eter
min
ants
of T
rans
pare
ncy,
Fix
ed E
ffec
ts M
odel
s
I
II
III
IV
Con
stan
t -3
1.95
-3
8.33
-3
9.40
-3
8.37
(-0.
08)
(-0.
10)
(-0.
10)
(-0.
10)
Past
infla
tion
-0.0
9 0.
07
0.09
-0
.12
(-
0.24
) (0
.19)
(0
.22)
(-
0.29
) O
penn
ess
-0.0
0 -0
.00
-0.0
0 -0
.00
(-
0.70
) (-
0.43
) (-
0.40
) (-
0.37
) O
penn
ess*
ER D
umm
y 0.
00
0.00
* 0.
00*
0.00
*
(1.9
7)
(2.3
3)
(2.2
6)
(2.2
9)
Fina
ncia
l Dep
th
-0.0
1 -0
.01
-0.0
1 -0
.01
(-
0.55
) (-
0.54
) (-
0.61
) (-
0.69
) G
DP
per C
apita
4.
46*
4.89
* 4.
94*
4.99
*
(8.7
1)
(9.5
4)
(9.7
6)
(9.8
7)
Rul
e of
Law
-0
.04*
(-
3.68
)
Polit
ical
Sta
bilit
y
-0.0
0
(-
0.31
)
V
oice
and
Acc
ount
abili
ty
0.01
(0
.83)
Gov
ernm
ent E
ffic
ienc
y
-0.0
2*
(-1.
72)
H
auss
man
n te
st
13.3
6*
19.1
0*
21.9
2*
19.4
7*
R-S
quar
ed
0.97
0.
97
0.97
0.
97
* de
note
s sig
nific
ance
at 5
%
![Page 13: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/13.jpg)
Tab
le 6
a. D
eter
min
ants
of T
rans
pare
ncy
Inde
x, F
ixed
Eff
ects
Mod
els,
Mul
tiple
Pol
itica
l Var
iabl
es
I
II
III
IV
V
VI
Con
stan
t -2
7.50
-2
7.32
-2
6.98
-3
2.90
-3
2.79
-3
3.21
(-0.
08)
(-0.
08)
(-0.
09)
(-0.
10)
(-0.
10)
(-0.
10)
Past
infla
tion
-0.0
9 -0
.11
-0.0
6 0.
10
0.02
-0
.04
(-
0.26
) (-
0.30
) (-
0.17
) (0
.28)
(0
.06)
(-
0.10
) O
penn
ess
0.00
0.
00
0.00
0.
01
0.01
0.
00
(0
.64)
(0
.41)
(0
.47)
(1
.15)
(1
.18)
(0
.81)
Fi
nanc
ial D
epth
-0
.00
-0.0
0 -0
.00
-0.0
0 -0
.01
-0.0
0
(-0.
44)
(-0.
35)
(-0.
32)
(-0.
50)
(-0.
55)
(-0.
37)
GD
P pe
r Cap
ita
3.90
* 3.
86*
3.84
* 4.
30*
4.34
* 4.
39*
(8
.70)
(8
.77)
(8
.61)
(9
.73)
(9
.78)
(1
0.13
) R
ule
of L
aw
-0.0
4*
-0.0
4*
-0.0
4*
(-3.
77)
(-4.
38)
(-4.
22)
Po
litic
al S
tabi
lity
0.00
-0
.01
-0.0
1
(0
.33)
(-
1.47
) (-
1.18
)
Voi
ce a
nd A
ccou
ntab
ility
0.01
0.00
-0.0
0
(0
.62)
(0.2
8)
(-
0.49
) G
over
nmen
t Eff
icie
ncy
0.00
-0.0
1 -0
.01
(0
.51)
(-0.
80)
(-1.
21)
H
auss
man
Tes
t 13
.67*
18
.38*
14
.79*
24
.42*
19
.86*
25
.74*
R
-Squ
ared
0.
97
0.97
0.
97
0.97
0.
97
0.97
*
deno
tes s
igni
fican
ce a
t 5%
![Page 14: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/14.jpg)
Tab
le 6
b. D
eter
min
ants
of T
rans
pare
ncy
Inde
x, F
ixed
Eff
ects
Mod
els,
Mul
tiple
Pol
itica
l Var
iabl
es
I
II
III
IV
V
VI
Con
stan
t -3
4.84
-3
4.76
-3
4.62
-4
0.85
-4
0.78
-4
1.19
(-0.
09)
(-0.
09)
(-0.
09)
(-0.
11)
(-0.
11)
(-0.
11)
Past
infla
tion
-0.0
5 -0
.03
-0.0
6 0.
10
-0.0
4 -0
.04
(-
0.13
) (-
0.09
) (-
0.14
) (0
.27)
(-
0.10
) (-
0.10
) ER
Reg
ime
Dum
my
0.08
* 0.
08*
0.09
* 0.
11*
0.11
* 0.
11*
(2
.44)
(2
.24)
(2
.49)
(3
.30)
(3
.18)
(3
.11)
Fi
nanc
ial D
epth
-0
.00
-0.0
0 -0
.00
-0.0
0 -0
.00
-0.0
0
(-0.
18)
(-0.
24)
(-0.
17)
(-0.
13)
(-0.
19)
(-0.
21)
GD
P pe
r Cap
ita
4.64
* 4.
59*
4.64
* 5.
05*
5.14
* 5.
16*
(9
.40)
(9
.31)
(9
.22)
(1
0.40
) (1
0.48
) (1
0.78
) R
ule
of L
aw
-0.0
4*
-0.0
4*
-0.0
4*
(-3.
41)
(-3.
45)
(-2.
96)
Po
litic
al S
tabi
lity
0.01
-0
.00
-0.0
0
(1
.21)
(-
0.60
) (-
0.07
)
Voi
ce a
nd A
ccou
ntab
ility
0.01
0.01
0.00
(1
.26)
(0.5
0)
(0
.43)
G
over
nmen
t Eff
icie
ncy
-0.0
0
-0.0
1 -0
.01
(-
0.24
)
(-1.
18)
(-1.
30)
H
auss
man
Tes
t 16
.02*
17
.35*
16
.29*
23
.47*
21
.87*
23
.91*
R
-Squ
ared
0.
97
0.97
0.
97
0.97
0.
97
0.97
*
deno
tes s
igni
fican
ce a
t 5%
![Page 15: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/15.jpg)
Tab
le 6
c. D
eter
min
ants
of T
rans
pare
ncy
Inde
x, F
ixed
Eff
ects
Mod
els,
Mul
tiple
Pol
itica
l Var
iabl
es
I
II
III
IV
V
VI
Con
stan
t -3
4.73
-3
4.73
-3
4.44
-4
0.79
-4
0.56
-4
0.86
(-0.
09)
(-0.
09)
(-0.
09)
(-0.
11)
(-0.
11)
(-0.
11)
Past
infla
tion
-0.1
1 -0
.09
-0.1
0 0.
06
-0.0
8 -0
.07
(-
0.28
) (-
0.23
) (-
0.25
) (0
.16)
(-
0.21
) (-
0.19
) O
penn
ess
0.00
-0
.00
0.00
0.
00
0.00
0.
00
(0
.03)
(-
0.11
) (0
.01)
(0
.31)
(0
.41)
(0
.37)
ER
Reg
ime
Dum
my
0.09
* 0.
09*
0.10
* 0.
12*
0.12
* 0.
12*
(2
.66)
(2
.43)
(2
.73)
(3
.50)
(3
.38)
(3
.28)
Fi
nanc
ial D
epth
-0
.01
-0.0
1 -0
.01
-0.0
1 -0
.01
-0.0
1
(-0.
90)
(-0.
91)
(-0.
84)
(-0.
90)
(-0.
98)
(-1.
00)
GD
P pe
r Cap
ita
4.66
* 4.
61*
4.64
* 5.
04*
5.12
* 5.
12*
(9
.06)
(8
.98)
(8
.89)
(9
.90)
(9
.98)
(1
0.17
) R
ule
of L
aw
-0.0
4*
-0.0
4*
-0.0
4*
(-3.
44)
(-3.
43)
(-2.
83)
Po
litic
al S
tabi
lity
0.01
-0
.00
0.00
(1
.53)
(-
0.37
) (0
.26)
Voi
ce a
nd A
ccou
ntab
ility
0.02
0.01
0.01
(1
.66)
(0.7
8)
(0
.78)
G
over
nmen
t Eff
icie
ncy
-0.0
0
-0.0
1 -0
.01
(-
0.18
)
(-1.
21)
(-1.
24)
H
auss
man
Tes
t 15
.46*
16
.07*
15
.65*
21
.29*
20
.04*
21
.41*
R
-Squ
ared
0.
97
0.97
0.
97
0.97
0.
97
0.97
*
deno
tes s
igni
fican
ce a
t 5%
![Page 16: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/16.jpg)
Tab
le 6
d. D
eter
min
ants
of T
rans
pare
ncy
Inde
x, F
ixed
Eff
ects
Mod
els,
Mul
tiple
Pol
itica
l Var
iabl
es
I
II
III
IV
V
VI
Con
stan
t -3
2.45
-3
2.65
-3
2.18
-3
8.84
-3
8.68
-3
9.14
(-0.
09)
(-0.
09)
(-0.
08)
(-0.
10)
(-0.
10)
(-0.
10)
Past
infla
tion
-0.1
2 -0
.10
-0.1
4 0.
08
-0.1
2 -0
.11
(-
0.31
) (-
0.25
) (-
0.34
) (0
.21)
(-
0.31
) (-
0.38
) O
penn
ess
-0.0
0 -0
.00
-0.0
0 -0
.00
-0.0
0 -0
.00
(-
0.65
) (-
0.72
) (-
0.67
) (-
0.43
) (-
0.35
) (-
0.36
) O
penn
ess*
ER D
umm
y 0.
00
0.00
0.
00*
0.00
* 0.
00*
0.00
*
(1.9
3)
(1.7
2)
(1.9
7)
(2.2
1)
(2.2
9)
(2.1
9)
Fina
ncia
l Dep
th
-0.0
1 -0
.01
-0.0
1 -0
.01
-0.0
1 -0
.01
(-
0.64
) (-
0.68
) (-
0.59
) (-
0.59
) (-
0.70
) (-
0.75
) G
DP
per C
apita
4.
50*
4.45
* 4.
50*
4.89
* 5.
02*
5.02
*
(8.8
0)
(8.7
4)
(8.6
3)
(9.5
6)
(9.7
2)
(9.9
1)
Rul
e of
Law
-0
.05*
-0
.05*
-0
.04*
(-
4.03
) (-
4.05
) (-
3.26
)
Polit
ical
Sta
bilit
y 0.
01
-0.0
0 0.
00
(1.6
6)
(-0.
59)
(0.2
7)
V
oice
and
Acc
ount
abili
ty
0.
02
0.
01
0.
01
(1.8
8)
(0
.96)
(0.9
2)
Gov
ernm
ent E
ffic
ienc
y
-0
.00
-0
.02
-0.0
2
(-0.
44)
(-
1.71
) (-
1.77
)
Hau
ssm
an T
est
13.5
8*
14.6
1*
13.8
0*
20.3
3*
18.4
4*
20.2
2*
R-S
quar
ed
0.97
0.
97
0.97
0.
97
0.97
0.
97
* de
note
s sig
nific
ance
at 5
%
![Page 17: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/17.jpg)
Tab
le 7
aa. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of P
oliti
cal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -1
.47
-1.0
8 -0
.22
-1.5
4
(-1.
68)
(-1.
18)
(-0.
25)
(-1.
44)
Past
infla
tion
0.10
0.
30
0.24
0.
17
(0
.06)
(0
.18)
(0
.14)
(0
.10)
O
penn
ess
0.00
0.
00
0.00
0.
00
(1
.07)
(1
.04)
(0
.53)
(0
.87)
Fi
nanc
ial D
epth
-0
.01*
-0
.01*
-0
.01*
-0
.01*
(-2.
86)
(-3.
08)
(-2.
81)
(-2.
72)
GD
P pe
r Cap
ita
0.46
* 0.
39*
0.24
* 0.
47*
(3
.91)
(3
.34)
(2
.21)
(3
.04)
R
ule
of L
aw
-0.0
1
(-
1.19
)
Polit
ical
Sta
bilit
y
-0.0
0
(-
0.35
)
V
oice
and
Acc
ount
abili
ty
0.01
*
(2
.32)
Gov
ernm
ent E
ffic
ienc
y
-0.0
1
(-
0.89
)
R-S
quar
e 0.
29
0.27
0.
33
0.28
*
deno
tes s
igni
fican
ce a
t 5%
![Page 18: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/18.jpg)
Tab
le 7
ab. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of P
oliti
cal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -1
.23
-0.4
2 0.
01
-1.2
8
(-1.
18)
(-0.
34)
(0.0
1)
(-1.
09)
Past
infla
tion
-1.1
3 -1
.06
-0.6
6 -1
.11
(-
0.66
) (-
0.59
) (-
0.34
) (-
0.64
) ER
Reg
ime
Dum
my
0.04
0.
04*
0.03
0.
04
(1
.91)
(1
.94)
(1
.42)
(1
.92)
Fi
nanc
ial D
epth
-0
.01*
-0
.01*
-0
.01*
-0
.01*
(-2.
32)
(-2.
76)
(-2.
36)
(-2.
35)
GD
P pe
r Cap
ita
0.41
* 0.
28
0.21
0.
41*
(2
.99)
(1
.77)
(1
.54)
(2
.56)
R
ule
of L
aw
-0.0
0
(0
.40)
Polit
ical
Sta
bilit
y
0.00
(0
.71)
V
oice
and
Acc
ount
abili
ty
0.01
(1
.81)
Gov
ernm
ent E
ffic
ienc
y
-0.0
0
(-
0.68
)
R-S
quar
e 0.
26
0.26
0.
29
0.25
*
deno
tes s
igni
fican
ce a
t 5%
![Page 19: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/19.jpg)
Tab
le 7
ac. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of P
oliti
cal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -1
.87
-1.5
4 -0
.90
-1.9
7
(-1.
95)
(-1.
45)
(-0.
87)
(-1.
82)
Past
infla
tion
-1.8
2 -1
.66
-1.3
7 -1
.80
(-
0.99
) (-
0.92
) (-
0.70
) (-
0.97
) O
penn
ess
0.00
0.
00
0.00
0.
00
(1
.99)
(1
.96)
(1
.45)
(1
.84)
ER
Reg
ime
Dum
my
0.06
* 0.
06*
0.05
* 0.
06*
(2
.59)
(2
.53)
(2
.23)
(2
.64)
Fi
nanc
ial D
epth
-0
.01*
-0
.01*
-0
.01*
-0
.01*
(-4.
04)
(-4.
23)
(-3.
45)
(-3.
84)
GD
P pe
r Cap
ita
0.45
* 0.
39*
0.29
* 0.
46*
(3
.48)
(2
.81)
(2
.23)
(2
.93)
R
ule
of L
aw
-0.0
0
(-
0.99
)
Polit
ical
Sta
bilit
y
-0.0
0
(-
0.18
)
V
oice
and
Acc
ount
abili
ty
0.01
(1
.16)
Gov
ernm
ent E
ffic
ienc
y
-0.0
0
(-
0.78
)
R-S
quar
e 0.
36
0.35
0.
37
0.35
*
deno
tes s
igni
fican
ce a
t 5%
![Page 20: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/20.jpg)
Tab
le 7
ad. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of P
oliti
cal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -1
.38
-1.1
3 -0
.32
-1.3
5
(-1.
37)
(-1.
02)
(-0.
30)
(-1.
14)
Past
infla
tion
-0.7
9 -0
.63
-0.3
9 -0
.72
(-
0.43
) (-
0.35
) (-
0.20
) (-
0.39
) O
penn
ess
0.00
0.
00
0.00
0.
00
(0
.50)
(0
.53)
(0
.28)
(0
.36)
O
penn
ess*
ER D
umm
y 0.
00
0.00
0.
00
0.00
(1.4
2)
(1.4
1)
(1.0
0)
(1.4
5)
Fina
ncia
l Dep
th
-0.0
1*
-0.0
1*
-0.0
1*
-0.0
1*
(-
3.25
) (-
3.47
) (-
2.92
) (-
3.20
) G
DP
per C
apita
0.
45
0.40
* 0.
26
0.44
*
(3.3
7)
(2.8
3)
(1.9
2)
(2.5
8)
Rul
e of
Law
-0
.00
(-0.
96)
Po
litic
al S
tabi
lity
-0
.00
(-0.
35)
Voi
ce a
nd A
ccou
ntab
ility
0.
01
(1.4
6)
G
over
nmen
t Eff
icie
ncy
-0
.00
(-0.
58)
R
-Squ
are
0.30
0.
29
0.32
0.
29
* de
note
s sig
nific
ance
at 5
%
![Page 21: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/21.jpg)
Tab
le 7
ba: L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of P
oliti
cal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -1
.04
-0.8
7 -0
.35
-0.4
5
(-1.
32)
(-1.
14)
(-0.
51)
(-0.
51)
Past
infla
tion
0.18
0.
326
0.52
0.
48
(0
.26)
(0
.41)
(0
.81)
(0
.67)
O
penn
ess
0.00
0.
00
0.00
0.
00
(0
.80)
(0
.75)
(0
.68)
(0
.78)
Fi
nanc
ial D
epth
-0
.01*
-0
.01*
-0
.00*
-0
.01*
(-2.
08)
(-2.
18)
(-2.
04)
(-2.
28)
GD
P pe
r Cap
ita
0.37
* 0.
34*
0.23
0.
26
(3
.24)
(3
.30)
(2
.55)
(1
.94)
R
ule
of L
aw
-0.0
0
(-
0.36
)
Polit
ical
Sta
bilit
y
0.00
(-
0.02
)
V
oice
and
Acc
ount
abili
ty
0.01
*
(1
.79)
Gov
ernm
ent E
ffic
ienc
y
0.00
(0
.67)
R-S
quar
e 0.
21
0.21
0.
24
0.22
*
deno
tes s
igni
fican
ce a
t 5%
![Page 22: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/22.jpg)
Tab
le 7
bb: L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of P
oliti
cal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -0
.74
-0.2
9 0.
36
-0.0
8
(-0.
83)
(-0.
35)
(0.4
5)
(-0.
08)
Past
infla
tion
-0.3
1 -0
.19
0.10
-0
.03
(-
0.42
) (-
0.26
) (0
.14)
(-
0.04
) ER
Reg
ime
Dum
my
0.02
0.
02
0.01
0.
01
(0
.75)
(0
.75)
(0
.28)
(0
.67)
Fi
nanc
ial D
epth
-0
.01*
-0
.01*
-0
.00*
-0
.01*
(-2.
23)
(-2.
48)
(-2.
19)
(-2.
51)
GD
P pe
r Cap
ita
0.36
* 0.
28*
0.16
0.
24
(2
.91)
(2
.54)
(1
.50)
(1
.65)
R
ule
of L
aw
-0.0
0
(-
0.65
)
Polit
ical
Sta
bilit
y
0.00
(0
.32)
V
oice
and
Acc
ount
abili
ty
0.01
(1
.97)
Gov
ernm
ent E
ffic
ienc
y
0.00
(0
.52)
R-S
quar
e 0.
19
0.19
0.
23
0.19
*
deno
tes s
igni
fican
ce a
t 5%
![Page 23: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/23.jpg)
Tab
le 7
bc: L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of P
oliti
cal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -1
.21
-0.9
4 -0
.07
-0.5
3
(-1.
33)
(-1.
05)
(-0.
08)
(-0.
53)
Past
infla
tion
-0.7
0 -0
.58
-0.2
3 -0
.41
(-
0.91
) (-
0.77
) (-
0.30
) (-
0.50
) O
penn
ess
0.00
0.
00
0.00
0.
00
(1
.91)
(1
.83)
(1
.49)
(1
.81)
ER
Reg
ime
Dum
my
0.03
0.
03
0.02
0.
03
(1
.38)
(1
.35)
(0
.81)
(1
.29)
Fi
nanc
ial D
epth
-0
.01*
-0
.01*
-0
.01*
-0
.01*
(-2.
82)
(-3.
02)
(-2.
64)
(-3.
03)
GD
P pe
r Cap
ita
0.38
* 0.
33*
0.19
0.
26
(3
.14)
(2
.96)
(1
.58)
(1
.82)
R
ule
of L
aw
-0.0
0
(-
0.79
)
Polit
ical
Sta
bilit
y
-0.0
0
(-
0.26
)
V
oice
and
Acc
ount
abili
ty
0.01
(1
.58)
Gov
ernm
ent E
ffic
ienc
y
0.00
(0
.43)
R-S
quar
e 0.
24
0.23
0.
26
0.23
*
deno
tes s
igni
fican
ce a
t 5%
![Page 24: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/24.jpg)
Tab
le 7
bd: L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of P
oliti
cal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -0
.99
-0.7
6 0.
10
-0.2
8
(-1.
10)
(-0.
86)
(0.1
2)
(-0.
29)
Past
infla
tion
-0.6
1 -0
.51
-0.1
5 -0
.31
(-
0.80
) (-
0.68
) (-
0.19
) (-
0.39
) O
penn
ess
0.00
0.
00
0.00
0.
00
(0
.90)
(0
.91)
(0
.92)
(0
.86)
O
penn
ess*
ER D
umm
y 0.
00
0.00
0.
00
0.00
(1.0
7)
(1.0
7)
(0.5
2)
(1.0
1)
Fina
ncia
l Dep
th
-0.0
1*
-0.0
1*
-0.0
1 -0
.01*
(-2.
70)
(-2.
90)
(-2.
56)
(-2.
93)
GD
P pe
r Cap
ita
0.38
* 0.
34*
0.19
0.
26
(3
.13)
(3
.01)
(1
.69)
(1
.77)
R
ule
of L
aw
-0.0
0
(-
0.76
)
Polit
ical
Sta
bilit
y
-0.0
0
(-
0.32
)
V
oice
and
Acc
ount
abili
ty
0.01
*
(1
.68)
Gov
ernm
ent E
ffic
ienc
y
0.00
(0
.51)
R-S
quar
e 0.
23
0.22
0.
25
0.22
*
deno
tes s
igni
fican
ce a
t 5%
![Page 25: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/25.jpg)
Tab
le 8
aa. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of E
cono
mic
Tra
nspa
renc
y In
dex
I II
II
I IV
C
onst
ant
-2.1
7*
-2.7
4*
-1.6
0*
-1.1
8
(-3.
04)
(-3.
30)
(-2.
45)
(-1.
25)
Past
infla
tion
0.60
0.
44
0.36
0.
70
(0
.54)
(0
.41)
(0
.28)
(0
.58)
O
penn
ess
-0.0
0 -0
.00
-0.0
0*
-0.0
0
(-1.
91)
(-1.
58)
(-2.
27)
(-1.
71)
Fina
ncia
l Dep
th
0.00
0.
00*
0.01
* 0.
00
(1
.75)
(2
.02)
(2
.48)
(1
.26)
G
DP
per C
apita
0.
31*
0.40
* 0.
20*
0.15
(3.1
0)
(3.5
3)
(2.2
8)
(1.0
6)
Rul
e of
Law
0.
01
(1.1
4)
Po
litic
al S
tabi
lity
-0
.00
(-0.
10)
Voi
ce a
nd A
ccou
ntab
ility
0.
01*
(3.8
6)
G
over
nmen
t Eff
icie
ncy
0.
01*
(2.1
9)
R
-Squ
are
0.28
0.
27
0.39
0.
31
* de
note
s sig
nific
ance
at 5
%
![Page 26: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/26.jpg)
Tab
le 8
ab. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of E
cono
mic
Tra
nspa
renc
y In
dex
I II
II
I IV
C
onst
ant
-3.4
2*
-4.0
8*
-3.3
4*
-2.6
6*
(-
4.65
) (-
5.50
) (-
4.60
) (-
2.80
) Pa
st in
flatio
n -2
.78*
-3
.06*
-2
.69*
-2
.63*
(-2.
31)
(-2.
73)
(-2.
11)
(-2.
03)
ER R
egim
e D
umm
y 0.
12*
0.12
* 0.
11*
0.12
(5.4
0)
(5.4
6)
(4.9
7)
(5.3
4)
Fina
ncia
l Dep
th
0.00
0.
00
0.00
0.
00
(1
.12)
(1
.60)
(1
.82)
(0
.85)
G
DP
per C
apita
0.
33*
0.44
* 0.
32*
0.21
(3.4
6)
(4.4
4)
(3.4
4)
(1.5
6)
Rul
e of
Law
0.
01
(1.8
0)
Po
litic
al S
tabi
lity
0.
00
(0.2
4)
Voi
ce a
nd A
ccou
ntab
ility
0.
01*
(2.4
0)
G
over
nmen
t Eff
icie
ncy
0.
01*
(2.3
1)
R
-Squ
are
0.58
0.
57
0.59
0.
59
* de
note
s sig
nific
ance
at 5
%
![Page 27: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/27.jpg)
Tab
le 8
ac. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of E
cono
mic
Tra
nspa
renc
y In
dex
I II
II
I IV
C
onst
ant
-3.3
4*
-3.9
2*
-3.1
9*
-2.5
2*
(-
4.05
) (-
4.63
) (-
3.83
) (-
2.48
) Pa
st in
flatio
n -2
.60
-2.7
9*
-2.3
7 -2
.46
(-
1.98
) (-
2.22
) (-
1.69
) (-
1.76
) O
penn
ess
0.00
0.
00
-0.0
0 0.
00
(0
.03)
(0
.12)
(-
0.36
) (0
.29)
ER
Dum
my
0.11
* 0.
11*
0.10
* 0.
11*
(4
.00)
(4
.01)
(3
.52)
(3
.99)
Fi
nanc
ial D
epth
0.
00
0.00
0.
00
0.00
(0.9
7)
(1.2
6)
(1.5
9)
(0.5
5)
GD
P pe
r Cap
ita
0.33
* 0.
43*
0.31
0.
19
(3
.33)
(3
.99)
(3
.16)
(1
.41)
R
ule
of L
aw
0.01
(1
.53)
Polit
ical
Sta
bilit
y
0.00
(0
.02)
V
oice
and
Acc
ount
abili
ty
0.01
*
(1
.90)
Gov
ernm
ent E
ffic
ienc
y
0.01
*
(2
.27)
R-S
quar
e 0.
48
0.46
0.
49
0.49
*
deno
tes s
igni
fican
ce a
t 5%
![Page 28: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/28.jpg)
Tab
le 8
ad. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of E
cono
mic
Tra
nspa
renc
y In
dex
I II
II
I IV
C
onst
ant
-2.5
0 -3
.23*
-2
.30*
-1
.51
(-
3.45
) (-
3.75
) (-
3.12
) (-
1.69
) Pa
st in
flatio
n -1
.21
-1.3
9 -1
.07
-1.1
1
(-0.
96)
(-1.
09)
(-0.
80)
(-0.
82)
Ope
nnes
s -0
.01*
-0
.00*
-0
.01*
-0
.00*
(-2.
72)
(-2.
24)
(-2.
66)
(-2.
57)
Ope
nnes
s*ER
Dum
my
0.00
* 0.
00*
0.00
* 0.
00*
(2
.71)
(2
.77)
(2
.24)
(2
.77)
Fi
nanc
ial D
epth
0.
00
0.00
0.
01
0.00
(1.3
5)
(1.5
6)
(1.8
7)
(0.8
6)
GD
P pe
r Cap
ita
0.32
* 0.
44*
0.28
0.
15
(3
.39)
(3
.79)
(2
.26)
(1
.20)
R
ule
of L
aw
0.01
(1
.59)
Polit
ical
Sta
bilit
y
-0.0
0
(-
0.23
)
V
oice
and
Acc
ount
abili
ty
0.01
*
(2
.26)
Gov
ernm
ent E
ffic
ienc
y
0.02
*
(2
.66)
R-S
quar
e 0.
41
0.40
0.
44
0.44
*
deno
tes s
igni
fican
ce a
t 5%
![Page 29: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/29.jpg)
Tab
le 8
ba. L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of E
cono
mic
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.69*
-2
.13*
-1
.48*
-1
.26
(-
2.37
) (-
3.04
) (-
2.59
) (-
1.60
) Pa
st in
flatio
n 0.
59
0.28
0.
72
0.88
(0.9
7)
(0.4
7)
(1.3
2)
(1.3
7)
Ope
nnes
s -0
.00*
-0
.00*
-0
.00*
-0
.00
(-
2.12
) (-
2.18
) (-
2.44
) (-
2.05
) Fi
nanc
ial D
epth
0.
00
0.00
0.
00*
0.00
(1.1
5)
(1.5
2)
(2.0
6)
(1.0
5)
GD
P pe
r Cap
ita
0.23
* 0.
31*
0.17
* 0.
15
(2
.22)
(3
.33)
(2
.18)
(1
.21)
R
ule
of L
aw
0.01
(1
.89)
Polit
ical
Sta
bilit
y
0.00
(0
.96)
V
oice
and
Acc
ount
abili
ty
0.01
*
(4
.23)
Gov
ernm
ent E
ffic
ienc
y
0.01
*
(2
.26)
R-S
quar
e 0.
41
0.39
0.
49
0.42
*
deno
tes s
igni
fican
ce a
t 5%
![Page 30: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/30.jpg)
Tab
le 8
bb. L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of E
cono
mic
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -2
.76*
-3
.32*
-2
.72*
-2
.48*
(-3.
81)
(-4.
78)
(-4.
05)
(-3.
10)
Past
infla
tion
-0.3
4 -0
.59
-0.2
9 -0
.08
(-
0.55
) (-
0.97
) (-
0.48
) (-
0.12
) ER
Reg
ime
Dum
my
0.10
* 0.
10*
0.09
* 0.
09*
(5
.57)
(5
.52)
(5
.00)
(5
.39)
Fi
nanc
ial D
epth
0.
00
0.00
0.
00
0.00
(1.0
1)
(1.4
2)
(1.9
4)
(0.9
0)
GD
P pe
r Cap
ita
0.24
* 0.
34*
0.23
* 0.
18
(2
.38)
(3
.71)
(2
.62)
(1
.57)
R
ule
of L
aw
0.01
(1
.93)
Polit
ical
Sta
bilit
y
0.00
(0
.69)
V
oice
and
Acc
ount
abili
ty
0.01
*
(2
.52)
Gov
ernm
ent E
ffic
ienc
y
0.01
*
(2
.01)
R-S
quar
e 0.
58
0.56
0.
60
0.59
*
deno
tes s
igni
fican
ce a
t 5%
![Page 31: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/31.jpg)
Tab
le 8
bc. L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of E
cono
mic
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -2
.70*
-3
.18*
-2
.58*
-2
.39*
(-3.
57)
(-4.
20)
(-3.
53)
(-2.
89)
Past
infla
tion
-0.2
7 -0
.51
-0.1
5 0.
00
(-
0.43
) (-
0.80
) (-
0.24
) (0
.01)
O
penn
ess
-0.0
0 -0
.00
-0.0
0 -0
.00
(-
0.42
) (-
0.54
) (-
0.80
) (-
0.41
) ER
Reg
ime
Dum
my
0.09
* 0.
10*
0.08
* 0.
09*
(5
.13)
(5
.06)
(4
.29)
(4
.98)
Fi
nanc
ial D
epth
0.
00
0.00
0.
00*
0.00
(1.1
8)
(1.6
0)
(2.1
1)
(1.0
7)
GD
P pe
r Cap
ita
0.23
* 0.
32*
0.22
* 0.
17
(2
.30)
(3
.39)
(2
.43)
(1
.46)
R
ule
of L
aw
0.01
(2
.01)
Polit
ical
Sta
bilit
y
0.00
(0
.91)
V
oice
and
Acc
ount
abili
ty
0.01
*
(2
.49)
Gov
ernm
ent E
ffic
ienc
y
0.01
*
(2
.13)
R-S
quar
e 0.
59
0.57
0.
60
0.59
*
deno
tes s
igni
fican
ce a
t 5%
![Page 32: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/32.jpg)
Tab
le 8
bd. L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of E
cono
mic
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.99*
-2
.59*
-1
.84*
-1
.59
(-
2.47
) (-
3.19
) (-
2.46
) (-
1.82
) Pa
st in
flatio
n 0.
01
-0.2
5 0.
17
0.34
(0.0
1)
(-0.
36)
(0.2
6)
(0.4
7)
Ope
nnes
s -0
.01
-0.0
1 -0
.01
-0.0
1*
(-
3.45
) (-
3.33
) (-
3.38
) (-
3.39
) O
penn
ess*
ER D
umm
y 0.
00*
0.00
* 0.
00*
0.00
*
(3.5
1)
(3.8
8)
(2.6
9)
(3.4
4)
Fina
ncia
l Dep
th
0.00
0.
00
0.01
* 0.
00
(1
.41)
(1
.79)
(2
.35)
(1
.26)
G
DP
per C
apita
0.
23*
0.34
* 0.
21*
0.15
(2.1
4)
(3.3
4)
(2.0
7)
(1.2
1)
Rul
e of
Law
0.
01
(1.9
6)
Po
litic
al S
tabi
lity
0.
00
(0.6
6)
Voi
ce a
nd A
ccou
ntab
ility
0.
01*
(2.7
6)
G
over
nmen
t Eff
icie
ncy
0.
01*
(2.2
7)
R
-Squ
are
0.51
0.
49
0.54
0.
52
* de
note
s sig
nific
ance
at 5
%
![Page 33: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/33.jpg)
Tab
le 9
aa. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of P
roce
dura
l Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.35
-1.6
3*
-0.8
5 -0
.88
(-
1.66
) (-
2.09
) (-
1.11
) (-
0.93
) Pa
st in
flatio
n 0.
76
0.68
0.
63
0.81
(0.6
0)
(0.5
5)
(0.5
0)
(0.6
4)
Ope
nnes
s 0.
00
0.00
0.
00
0.00
(0.6
3)
(0.6
5)
(0.3
7)
(0.7
2)
Fina
ncia
l Dep
th
-0.0
0 -0
.00
-0.0
0 -0
.00
(-
0.56
) (-
0.52
) (-
0.06
) (-
0.74
) G
DP
per C
apita
0.
22*
0.27
* 0.
13
0.14
(2.0
1)
(2.6
9)
(1.3
4)
(1.0
7)
Rul
e of
Law
0.
00
(0.4
5)
Po
litic
al S
tabi
lity
-0
.00
(-0.
08)
Voi
ce a
nd A
ccou
ntab
ility
0.
01*
(2.7
0)
G
over
nmen
t Eff
icie
ncy
0.
01
(0.9
9)
R
-Squ
are
0.14
0.
14
0.21
0.
15
* de
note
s sig
nific
ance
at 5
%
![Page 34: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/34.jpg)
Tab
le 9
ab. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of P
roce
dura
l Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.19
-1.0
6 -0
.91
-1.0
8
(-1.
44)
(-1.
45)
(-1.
09)
(-1.
07)
Past
infla
tion
-1.5
2 -1
.76
-1.3
8 -1
.52
(-
1.10
) (-
1.30
) (-
0.97
) (-
1.11
) ER
Reg
ime
Dum
my
0.07
* 0.
08*
0.06
* 0.
07*
(3
.57)
(3
.67)
(3
.40)
(3
.61)
Fi
nanc
ial D
epth
0.
00
0.00
0.
00
0.00
(0.0
6)
(0.1
0)
(0.3
9)
(0.0
5)
GD
P pe
r Cap
ita
0.15
0.
13
0.10
0.
13
(1
.40)
(1
.40)
(1
.02)
(0
.93)
R
ule
of L
aw
0.00
(0
.73)
Polit
ical
Sta
bilit
y
0.00
(1
.10)
V
oice
and
Acc
ount
abili
ty
0.01
*
(1
.83)
Gov
ernm
ent E
ffic
ienc
y
0.00
(0
.65)
R-S
quar
e 0.
25
0.25
0.
27
0.25
*
deno
tes s
igni
fican
ce a
t 5%
![Page 35: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/35.jpg)
Tab
le 9
ac. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of P
roce
dura
l Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.65
-1.7
8*
-1.4
3 -1
.38
(-
1.81
) (-
2.02
) (-
1.50
) (-
1.35
) Pa
st in
flatio
n -1
.84
-1.9
6 -1
.64
-1.8
0
(-1.
37)
(-1.
50)
(-1.
24)
(-1.
35)
Ope
nnes
s 0.
00
0.00
0.
00
0.00
(1.4
8)
(1.2
9)
(1.2
1)
(1.5
7)
ER R
egim
e D
umm
y 0.
09*
0.09
* 0.
08*
0.09
*
(3.5
4)
(3.5
6)
(3.3
2)
(3.5
3)
Fina
ncia
l Dep
th
-0.0
0 -0
.00
-0.0
0 -0
.00
(-
1.11
) (-
1.00
) (-
0.64
) (-
1.18
) G
DP
per C
apita
0.
18
0.20
* 0.
15
0.13
(1.7
3)
(2.1
0)
(1.4
0)
(1.0
2)
Rul
e of
Law
0.
00
(0.6
4)
Po
litic
al S
tabi
lity
0.
00
(0.3
1)
Voi
ce a
nd A
ccou
ntab
ility
0.
00
(1.3
3)
G
over
nmen
t Eff
icie
ncy
0.
01
(0.8
2)
R
-Squ
are
0.25
0.
25
0.26
0.
25
* de
note
s sig
nific
ance
at 5
%
![Page 36: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/36.jpg)
Tab
le 9
ad. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of P
roce
dura
l Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -0
.96
-1.2
0 -0
.60
-0.5
5
(-1.
09)
(-1.
33)
(-0.
65)
(-0.
55)
Past
infla
tion
-0.4
1 -0
.51
-0.2
3 -0
.37
(-
0.28
) (-
0.35
) (-
0.16
) (-
0.26
) O
penn
ess
-0.0
0 -0
.00
-0.0
0 -0
.00
(-
0.17
) (-
0.14
) (-
0.22
) (-
0.07
) ER
Reg
ime
Dum
my
0.00
0.
00
0.00
0.
00
(1
.54)
(1
.56)
(1
.16)
(1
.53)
Fi
nanc
ial D
epth
-0
.00
-0.0
0 -0
.00
-0.0
0
(-0.
54)
(-0.
46)
(-0.
08)
(-0.
69)
GD
P pe
r Cap
ita
0.17
0.
21
0.11
0.
10
(1
.58)
(1
.99)
(0
.98)
(0
.76)
R
ule
of L
aw
0.00
(0
.59)
Polit
ical
Sta
bilit
y
0.00
(0
.07)
V
oice
and
Acc
ount
abili
ty
0.01
(1
.88)
Gov
ernm
ent E
ffic
ienc
y
0.01
(0
.98)
R-S
quar
e 0.
14
0.13
0.
17
0.14
*
deno
tes s
igni
fican
ce a
t 5%
![Page 37: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/37.jpg)
Tab
le 9
ba. L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of P
roce
dura
l Tra
nspa
renc
y In
dex
I II
II
I IV
C
onst
ant
-1.6
1*
-1.7
0*
-1.3
4 -1
.05
(-
2.33
) (-
2.54
) (-
2.30
) (-
1.38
) Pa
st in
flatio
n 0.
56
0.44
0.
71
0.89
(0.9
4)
(0.7
8)
(1.2
8)
(1.4
2)
Ope
nnes
s 0.
00
0.00
0.
00
0.00
(0.3
0)
(0.1
1)
(0.1
9)
(0.3
4)
Fina
ncia
l Dep
th
-0.0
0 0.
00
0.00
-0
.00
(-
0.08
) (0
.10)
(0
.34)
(-
0.27
) G
DP
per C
apita
0.
24*
0.26
* 0.
18*
0.13
(2.3
9)
(2.8
7)
(2.2
1)
(1.1
4)
Rul
e of
Law
0.
00
(0.8
6)
Po
litic
al S
tabi
lity
0.
00
(0.7
2)
Voi
ce a
nd A
ccou
ntab
ility
0.
01*
(2.5
9)
G
over
nmen
t Eff
icie
ncy
0.
01*
(11.
73)
R
-Squ
are
0.27
0.
26
0.32
0.
29
• de
note
s sig
nific
ance
at 5
%
![Page 38: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/38.jpg)
Tab
le 9
bb. L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of P
roce
dura
l Tra
nspa
renc
y In
dex
I II
II
I IV
C
onst
ant
-1.4
9 -1
.49*
-1
.03
-1.0
8
(-1.
86)
(-2.
00)
(-1.
42)
(-1.
23)
Past
infla
tion
0.02
-0
.09
0.22
0.
28
(0
.03)
(-
0.14
) (0
.34)
(0
.40)
ER
Reg
ime
Dum
my
0.06
* 0.
06*
0.05
* 0.
05
(3
.00)
(3
.11)
(2
.50)
(2
.89)
Fi
nanc
ial D
epth
0.
00
0.00
0.
00
0.00
(0.1
8)
(0.3
1)
(0.8
2)
(0.0
0)
GD
P pe
r Cap
ita
0.17
0.
17
0.09
0.
10
(1
.57)
(1
.79)
(0
.98)
(0
.77)
R
ule
of L
aw
0.00
(0
.92)
Polit
ical
Sta
bilit
y
0.00
(1
.17)
V
oice
and
Acc
ount
abili
ty
0.09
*
(2
.47)
Gov
ernm
ent E
ffic
ienc
y
0.01
*
(1
.41)
R-S
quar
e 0.
29
0.29
0.
34
0.30
*
deno
tes s
igni
fican
ce a
t 5%
![Page 39: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/39.jpg)
Tab
le 9
bc. L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of P
roce
dura
l Tra
nspa
renc
y In
dex
I II
II
I IV
C
onst
ant
-1.8
5*
-1.8
8 -1
.50
-1.3
9
(-2.
29)
(-2.
39)
(-1.
94)
(-1.
59)
Past
infla
tion
-0.2
4 -0
.32
-0.0
6 0.
06
(-
0.35
) (-
0.48
) (-
0.08
) (0
.08)
O
penn
ess
0.00
0.
00
0.00
0.
00
(1
.42)
(1
.10)
(1
.08)
(1
.40)
ER
Reg
ime
Dum
my
0.07
* 0.
07*
0.06
* 0.
07*
(3
.57)
(3
.57)
(2
.93)
(3
.46)
Fi
nanc
ial D
epth
-0
.00
0.00
0.
00
-0.0
0
(-0.
23)
(0.0
1)
(0.3
6)
(-0.
40)
GD
P pe
r Cap
ita
0.19
0.
20
0.14
0.
10
(1
.74)
(2
.03)
(1
.42)
(0
.82)
R
ule
of L
aw
0.00
(0
.97)
Polit
ical
Sta
bilit
y
0.00
(0
.97)
V
oice
and
Acc
ount
abili
ty
0.01
*
(1
.90)
Gov
ernm
ent E
ffic
ienc
y
0.01
(1
.57)
R-S
quar
e 0.
34
0.34
0.
37
0.36
*
deno
tes s
igni
fican
ce a
t 5%
![Page 40: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/40.jpg)
Tab
le 9
bd. L
inea
r R
egre
ssio
n M
odel
s for
199
8-20
04 A
vera
ge: D
eter
min
ants
of P
roce
dura
l Tra
nspa
renc
y In
dex
I II
II
I IV
C
onst
ant
-1.3
0 -1
.40
-0.8
8 -0
.76
(-
1.55
) (-
1.70
) (-
1.13
) (-
0.84
) Pa
st in
flatio
n 0.
06
0.03
0.
31
0.40
(0.0
9)
(-0.
04)
(0.4
4)
(0.5
4)
Ope
nnes
s -0
.00
-0.0
0 -0
.00
-0.0
0
(-0.
66)
(-0.
81)
(-0.
57)
(-0.
62)
Ope
nnes
s*ER
Dum
my
0.00
0.
00
0.00
0.
00
(1
.90)
(1
.83)
(1
.22)
(1
.84)
Fi
nanc
ial D
epth
-0
.00
0.00
0.
00
-0.0
0
(-0.
03)
(0.2
2)
(0.6
1)
(-0.
23)
GD
P pe
r Cap
ita
0.19
0.
22*
0.11
0.
09
(1
.66)
(2
.04)
(1
.11)
(0
.66)
R
ule
of L
aw
0.00
(1
.01)
Polit
ical
Sta
bilit
y
0.00
(0
.85)
V
oice
and
Acc
ount
abili
ty
0.09
*
(2
.31)
Gov
ernm
ent E
ffic
ienc
y
0.01
(1
.73)
R-S
quar
e 0.
25
0.25
0.
30
0.27
•
* de
note
s sig
nific
ance
at 5
%
![Page 41: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/41.jpg)
T
able
10a
a. L
inea
r R
egre
ssio
n M
odel
s for
200
4: D
eter
min
ants
of P
olic
y T
rans
pare
ncy
Inde
x
I II
II
I IV
C
onst
ant
-1.1
1 -1
.38
-1.4
5 -0
.22
(-
1.31
) (-
1.51
) (-
1.97
) (-
0.21
) Pa
st in
flatio
n 2.
53
2.03
2.
06
2.50
(1.4
6)
(1.0
5)
(1.1
6)
(1.5
1)
Ope
nnes
s -0
.00
-0.0
0 -0
.00
-0.0
0
(-1.
35)
(-1.
83)
(-1.
46)
(-0.
99)
Fina
ncia
l Dep
th
0.00
0.
00
0.00
-0
.00
(0
.19)
(0
.79)
(0
.97)
(-
0.22
) G
DP
per C
apita
0.
14
0.20
0.
18
-0.0
1
(1.1
6)
(1.6
8)
(1.8
8)
(-0.
07)
Rul
e of
Law
0.
01*
(2.3
4)
Po
litic
al S
tabi
lity
0.
01
(1.7
6)
Voi
ce a
nd A
ccou
ntab
ility
0.
01*
(3.0
6)
G
over
nmen
t Eff
icie
ncy
0.
02*
(2.7
3)
R
-Squ
are
0.25
0.
23
0.29
0.
27
* de
note
s sig
nific
ance
at 5
%
![Page 42: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/42.jpg)
Tab
le 1
0ab.
Lin
ear
Reg
ress
ion
Mod
els f
or 2
004:
Det
erm
inan
ts o
f Pol
icy
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.88*
-2
.49*
-2
.68*
-1
.14*
(-2.
29)
(-2.
68)
(-3.
16)
(-1.
07)
Past
infla
tion
0.58
-0
.18
0.39
0.
68
(0
.33)
(-
0.08
) (0
.19)
(0
.38)
ER
Reg
ime
Dum
my
0.07
* 0.
08*
0.07
* 0.
07*
(3
.73)
(4
.20)
(3
.23)
(3
.58)
Fi
nanc
ial D
epth
-0
.00
0.00
0.
00
-0.0
0
(-0.
21)
(0.1
9)
(0.6
3)
(-0.
39)
GD
P pe
r Cap
ita
0.13
0.
24
0.26
* 0.
02
(1
.17)
(1
.98)
(2
.43)
(0
.10)
R
ule
of L
aw
0.02
*
(2
.88)
Polit
ical
Sta
bilit
y
0.01
(2
.07)
V
oice
and
Acc
ount
abili
ty
0.01
*
(1
.92)
Gov
ernm
ent E
ffic
ienc
y
0.02
*
(2
.85)
R-S
quar
e 0.
46
0.42
0.
41
0.46
*
deno
tes s
igni
fican
ce a
t 5%
![Page 43: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/43.jpg)
Tab
le 1
0ac.
Lin
ear
Reg
ress
ion
Mod
els f
or 2
004:
Det
erm
inan
ts o
f Pol
icy
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.53
-1.6
2 -1
.99*
-0
.76
(-
1.73
) (-
1.59
) (-
2.13
) (-
0.69
) Pa
st in
flatio
n 0.
61
-0.0
2 0.
66
0.68
(0.3
2)
(-0.
01)
(0.3
1)
(0.3
7)
Ope
nnes
s -0
.00
-0.0
0 -0
.00
-0.0
0
(-0.
42)
(-1.
03)
(-0.
66)
(-0.
11)
ER R
egim
e D
umm
y 0.
07*
0.07
* 0.
05
0.06
*
(2.8
2)
(3.2
7)
(2.1
4)
(2.7
6)
Fina
ncia
l Dep
th
-0.0
0 0.
00
0.00
-0
.00
(-
0.08
) (0
.53)
(0
.67)
(-
0.41
) G
DP
per C
apita
0.
11
0.15
0.
21
-0.0
1
(0.9
6)
(1.2
2)
(1.7
9)
(-0.
06)
Rul
e of
Law
0.
01*
(2.4
9)
Po
litic
al S
tabi
lity
0.
01
(1.9
6)
Voi
ce a
nd A
ccou
ntab
ility
0.
01
(1.6
8)
G
over
nmen
t Eff
icie
ncy
0.
02*
(2.5
3)
R
-Squ
are
0.34
0.
31
0.29
0.
33
* de
note
s sig
nific
ance
at 5
%
![Page 44: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/44.jpg)
Tab
le 1
0ad.
Lin
ear
Reg
ress
ion
Mod
els f
or 2
004:
Det
erm
inan
ts o
f Pol
icy
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.11
-1.2
5 -1
.76*
-0
.27
(-
1.38
) (-
1.32
) (-
2.01
) (-
0.27
) Pa
st in
flatio
n 0.
86
0.33
0.
72
0.85
(0.5
0)
(0.1
6)
(0.3
6)
(0.5
1)
Ope
nnes
s -0
.01*
-0
.01
-0.0
0*
-0.0
0*
(-
2.78
) (-
3.28
) (-
2.70
) (-
2.52
) O
penn
ess*
ER D
umm
y 0.
00*
0.00
* 0.
00*
0.00
*
(5.2
1)
(5.1
9)
(4.2
1)
(5.5
0)
Fina
ncia
l Dep
th
0.00
0.
00
0.00
-0
.00
(0
.23)
(0
.99)
(1
.01)
(-
0.19
) G
DP
per C
apita
0.
10
0.16
0.
21
-0.0
4
(0.9
4)
(1.3
1)
(1.8
8)
(-0.
24)
Rul
e of
Law
0.
01*
(2.6
2)
Po
litic
al S
tabi
lity
0.
01
(1.9
2)
Voi
ce a
nd A
ccou
ntab
ility
0.
01
(1.5
4)
G
over
nmen
t Eff
icie
ncy
0.
02*
(2.7
5)
R
-Squ
are
0.41
0.
37
0.35
0.
42
* de
note
s sig
nific
ance
at 5
%
![Page 45: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/45.jpg)
Tab
le 1
0ba.
Lin
ear
Reg
ress
ion
Mod
els f
or 1
998-
2004
Ave
rage
: Det
erm
inan
ts o
f Pol
icy
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.31
-1.3
0 -1
.43
-1.0
0
(-2.
11)
(-2.
18)
(-2.
78)
(-1.
44)
Past
infla
tion
0.03
-0
.24
0.00
0.
27
(0
.06)
(-
0.48
) (0
.01)
(0
.48)
O
penn
ess
-0.0
0 -0
.00*
-0
.00*
-0
.00*
(-2.
42)
(-3.
09)
(-2.
64)
(-2.
30)
Fina
ncia
l Dep
th
-0.0
0 0.
00
0.00
-0
.00
(-
0.32
) (0
.22)
(0
.56)
(-
0.39
) G
DP
per C
apita
0.
18*
0.19
* 0.
18*
0.12
(2.0
1)
(2.4
3)
(2.6
1)
(1.1
0)
Rul
e of
Law
0.
01
(2.6
0)
Po
litic
al S
tabi
lity
0.
01*
(2.9
3)
Voi
ce a
nd A
ccou
ntab
ility
0.
01*
(3.9
7)
G
over
nmen
t Eff
icie
ncy
0.
01
(2.6
9)
R
-Squ
are
0.43
0.
44
0.48
0.
43
* de
note
s sig
nific
ance
at 5
%
![Page 46: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/46.jpg)
Tab
le 1
0bb.
Lin
ear
Reg
ress
ion
Mod
els f
or 1
998-
2004
Ave
rage
: Det
erm
inan
ts o
f Pol
icy
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -2
.00*
-2
.46*
-2
.38*
-1
.76*
(-3.
10)
(-3.
96)
(-3.
80)
(-2.
43)
Past
infla
tion
-0.7
4 -1
.11*
-0
.83
-0.4
4
(-1.
37)
(-2.
03)
(-1.
49)
(-0.
75)
ER R
egim
e D
umm
y 0.
07*
0.07
* 0.
06*
0.06
*
(4.3
6)
(4.4
9)
(3.5
9)
(4.0
5)
Fina
ncia
l Dep
th
-0.0
0 -0
.00
-0.0
0 -0
.00
(-
1.55
) (-
0.97
) (-
0.26
) (-
1.57
) G
DP
per C
apita
0.
16
0.25
* 0.
23*
0.12
(1.8
5)
(3.0
3)
(2.8
1)
(3.0
1)
Rul
e of
Law
0.
01*
(3.3
8)
Po
litic
al S
tabi
lity
0.
01
(2.6
4)
Voi
ce a
nd A
ccou
ntab
ility
0.
01*
(2.8
0)
G
over
nmen
t Eff
icie
ncy
0.
02*
(3.0
5)
R
-Squ
are
0.58
0.
55
0.56
0.
57
* de
note
s sig
nific
ance
at 5
%
![Page 47: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/47.jpg)
Tab
le 1
0bc.
Lin
ear
Reg
ress
ion
Mod
els f
or 1
998-
2004
Ave
rage
: Det
erm
inan
ts o
f Pol
icy
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.85*
-2
.05*
-2
.11*
-1
.60*
(-2.
76)
(-3.
08)
(-3.
12)
(-2.
13)
Past
infla
tion
-0.6
0 -0
.87
-0.6
2 -0
.29
(-
1.07
) (-
1.55
) (-
1.06
) (-
0.47
) O
penn
ess
-0.0
0 -0
.00
-0.0
0 -0
.00
(-
0.96
) (-
1.66
) (-
1.28
) (-
0.89
) ER
Reg
ime
Dum
my
0.06
* 0.
00*
0.05
* 0.
06*
(3
.85)
(3
.83)
(2
.82)
(3
.58)
Fi
nanc
ial D
epth
-0
.00
-0.0
0 0.
00
-0.0
0
(-0.
90)
(-0.
03)
(0.4
0)
(-0.
96)
GD
P pe
r Cap
ita
0.15
* 0.
21*
0.21
* 0.
10
(1
.72)
(2
.50)
(2
.51)
(0
.96)
R
ule
of L
aw
0.01
*
(3
.51)
Polit
ical
Sta
bilit
y
0.01
(3
.16)
V
oice
and
Acc
ount
abili
ty
0.01
*
(2
.92)
Gov
ernm
ent E
ffic
ienc
y
0.02
*
(3
.21)
R-S
quar
e 0.
59
0.58
0.
57
0.58
*
deno
tes s
igni
fican
ce a
t 5%
![Page 48: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/48.jpg)
Tab
le 1
0bd.
Lin
ear
Reg
ress
ion
Mod
els f
or 1
998-
2004
Ave
rage
: Det
erm
inan
ts o
f Pol
icy
Tra
nspa
renc
y In
dex
I
II
III
IV
Con
stan
t -1
.40*
-1
.68*
-1
.71
-1.1
0
(-2.
08)
(-2.
47)
(-2.
61)
(-1.
49)
Past
infla
tion
-0.4
8 -0
.73
-0.4
9 -0
.14
(-
0.84
) (-
1.27
) (-
0.82
) (-
0.23
) O
penn
ess
-0.0
1*
-0.0
0*
-0.0
0*
-0.0
0*
(-
3.56
) (-
3.94
) (-
3.24
) (-
3.37
) O
penn
ess*
ER D
umm
y 0.
00*
0.00
* 0.
00*
0.00
*
(3.2
8)
(2.9
9)
(2.2
8)
(3.1
4)
Fina
ncia
l Dep
th
-0.0
0 0.
00
0.00
-0
.00
(-
0.58
) (0
.25)
(0
.66)
(-
0.69
) G
DP
per C
apita
0.
16
0.22
* 0.
21*
0.09
*
(1.7
0)
(2.6
0)
(2.3
9)
(0.8
5)
Rul
e of
Law
0.
01*
(3.4
9)
Po
litic
al S
tabi
lity
0.
01*
(2.8
7)
Voi
ce a
nd A
ccou
ntab
ility
0.
01
(3.0
6)
G
over
nmen
t Eff
icie
ncy
0.
02*
(3.3
5)
R
-Squ
are
0.57
0.
54
0.55
0.
56
* de
note
s sig
nific
ance
at 5
%
![Page 49: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/49.jpg)
Tab
le 1
1aa.
Lin
ear
Reg
ress
ion
Mod
els f
or 2
004:
Det
erm
inan
ts o
f Ope
ratio
nal T
rans
pare
ncy
Inde
x
I II
II
I IV
C
onst
ant
-1.5
0*
-1.4
7*
-0.4
3 -1
.39
(-
2.23
) (-
2.10
) (-
0.56
) (-
1.59
) Pa
st in
flatio
n 2.
19
2.41
2.
33
2.29
(1.4
4)
(1.7
5)
(1.4
3)
(1.5
1)
Ope
nnes
s -0
.00
-0.0
0 -0
.00
-0.0
0
(-0.
95)
(-0.
50)
(-1.
25)
(-1.
14)
Fina
ncia
l Dep
th
0.00
0.
00
0.00
0.
00
(1
.89)
(1
.54)
(1
.92)
(1
.79)
G
DP
per C
apita
0.
26*
0.25
0.
08
0.24
(3.0
0)
(2.9
3)
(0.8
5)
(1.8
7)
Rul
e of
Law
-0
.01
(-1.
11)
Po
litic
al S
tabi
lity
-0
.00
(-1.
11)
Voi
ce a
nd A
ccou
ntab
ility
0.
01*
(2.0
2)
G
over
nmen
t Eff
icie
ncy
-0
.00
(-0.
57)
R
-Squ
are
0.12
0.
12
0.15
0.
11
* de
note
s sig
nific
ance
at 5
%
![Page 50: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/50.jpg)
Tab
le 1
1ab.
Lin
ear
Reg
ress
ion
Mod
els f
or 2
004:
Det
erm
inan
ts o
f Ope
ratio
nal T
rans
pare
ncy
Inde
x
I II
II
I IV
C
onst
ant
-2.0
8 -2
.01*
-1
.14
-2.1
8*
(-
2.83
) (-
2.65
) (-
1.38
) (-
2.47
) Pa
st in
flatio
n 0.
69
0.89
1.
04
0.69
(0.4
5)
(0.6
2)
(0.6
3)
(0.4
4)
ER R
egim
e D
umm
y 0.
06*
0.06
* 0.
06*
0.06
*
(3.5
5)
(3.4
5)
(2.9
7)
(3.5
9)
Fina
ncia
l Dep
th
0.00
0.
00
0.00
0.
00
(1
.71)
(1
.59)
(1
.65)
(1
.73)
G
DP
per C
apita
0.
26*
0.25
* 0.
11
0.28
(2.8
4)
(2.7
2)
(1.1
0)
(2.1
7)
Rul
e of
Law
-0
.00
(-0.
81)
Po
litic
al S
tabi
lity
-0
.00
(-0.
74)
Voi
ce a
nd A
ccou
ntab
ility
0.
01
(1.3
8)
G
over
nmen
t Eff
icie
ncy
-0
.00
(-0.
65)
R
-Squ
are
0.26
0.
25
0.27
0.
25
* de
note
s sig
nific
ance
at 5
%
![Page 51: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/51.jpg)
Tab
le 1
1ac.
Lin
ear
Reg
ress
ion
Mod
els f
or 2
004:
Det
erm
inan
ts o
f Ope
ratio
nal T
rans
pare
ncy
Inde
x
I II
II
I IV
C
onst
ant
-1.7
5*
-1.7
6*
-0.9
4 -1
.79
(-
2.32
) (-
2.17
) (-
1.10
) (-
1.94
) Pa
st in
flatio
n 0.
95
1.21
1.
28
0.98
(0.5
9)
(0.8
2)
(0.7
4)
(0.6
0)
Ope
nnes
s 0.
00
0.00
-0
.00
-0.0
0
(0.0
3)
(0.3
4)
(-0.
26)
(-0.
12)
ER R
egim
e D
umm
y 0.
05*
0.05
* 0.
04*
0.05
*
(2.7
5)
(2.6
1)
(2.1
6)
(2.7
5)
Fina
ncia
l Dep
th
0.00
0.
00
0.00
0.
00
(1
.38)
(1
.01)
(1
.28)
(1
.34)
G
DP
per C
apita
0.
25*
0.24
* 0.
11
0.25
(2.6
0)
(2.4
4)
(1.1
0)
(1.8
4)
Rul
e of
Law
-0
.01
(-1.
08)
Po
litic
al S
tabi
lity
-0
.00
(-1.
04)
Voi
ce a
nd A
ccou
ntab
ility
0.
00
(0.7
2)
G
over
nmen
t Eff
icie
ncy
-0
.01
(-0.
72)
R
-Squ
are
0.18
0.
18
0.17
0.
17
* de
note
s sig
nific
ance
at 5
%
![Page 52: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/52.jpg)
Tab
le 1
1ad.
Lin
ear
Reg
ress
ion
Mod
els f
or 2
004:
Det
erm
inan
ts o
f Ope
ratio
nal T
rans
pare
ncy
Inde
x
I II
II
I IV
C
onst
ant
-1.3
6 -1
.45
-0.4
8 -1
.30
(-
1.80
) (-
1.80
) (-
0.55
) (-
1.37
) Pa
st in
flatio
n 1.
74
1.97
2.
06
1.81
(1.0
7)
(1.3
3)
(1.1
9)
(1.1
2)
Ope
nnes
s -0
.00
-0.0
0 -0
.00
-0.0
0
(-1.
16)
(-0.
67)
(-1.
30)
(-1.
33)
Ope
nnes
s*ER
Dum
my
0.00
0.
00
0.00
0.
00
(1
.69)
(1
.67)
(1
.18)
(1
.49)
Fi
nanc
ial D
epth
0.
00
0.00
0.
00
0.00
(1.5
6)
(1.2
3)
(1.5
2)
(1.4
9)
GD
P pe
r Cap
ita
0.24
* 0.
24*
0.09
0.
23
(2
.51)
(2
.51)
(0
.86)
(1
.66)
R
ule
of L
aw
-0.0
1
(-
1.06
)
Polit
ical
Sta
bilit
y
-0.0
1
(-
1.17
)
V
oice
and
Acc
ount
abili
ty
0.00
(1
.03)
Gov
ernm
ent E
ffic
ienc
y
-0.0
0
(-
0.59
)
R-S
quar
e 0.
13
0.13
0.
13
0.12
*
deno
tes s
igni
fican
ce a
t 5%
![Page 53: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/53.jpg)
Tab
le 1
1ba.
Lin
ear
Reg
ress
ion
Mod
els f
or 1
998-
2004
Ave
rage
: Det
erm
inan
ts o
f Ope
ratio
nal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -1
.26*
-1
.43*
-0
.99*
-1
.06
(-
2.14
) (-
2.50
) (-
2.03
) (1
.61)
Pa
st in
flatio
n 0.
84
0.70
0.
99*
0.98
(1.6
6)
(1.4
5)
(2.1
3)
(1.8
2)
Ope
nnes
s -0
.00
-0.0
0 -0
.00
-0.0
0
(-1.
05)
(-1.
14)
(-1.
24)
(-1.
00)
Fina
ncia
l Dep
th
0.00
0.
00
0.00
0.
00
(0
.86)
(1
.07)
(1
.43)
(0
.79)
G
DP
per C
apita
0.
18*
0.21
* 0.
12
0.14
(2.1
5)
(2.8
0)
(1.8
1)
(1.4
2)
Rul
e of
Law
0.
00
(1.0
5)
Po
litic
al S
tabi
lity
0.
00
(0.6
6)
Voi
ce a
nd A
ccou
ntab
ility
0.
01*
(3.1
6)
G
over
nmen
t Eff
icie
ncy
0.
01
(1.2
7)
R
-Squ
are
0.28
0.
27
0.35
0.
29
* de
note
s sig
nific
ance
at 5
%
![Page 54: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/54.jpg)
Tab
le 1
1bb.
Lin
ear
Reg
ress
ion
Mod
els f
or 1
998-
2004
Ave
rage
: Det
erm
inan
ts o
f Ope
ratio
nal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -1
.71*
-1
.93*
-1
.52*
-1
.62*
(-2.
50)
(-3.
02)
(-2.
40)
(-2.
15)
Past
infla
tion
0.20
0.
09
0.29
0.
29
(0
.34)
(0
.15)
(0
.51)
(0
.48)
ER
Reg
ime
Dum
my
0.05
* 0.
05*
0.05
* 0.
05*
(3
.37)
(3
.40)
(2
.96)
(3
.29)
Fi
nanc
ial D
epth
0.
00
0.00
0.
00
0.00
(0.6
6)
(0.8
6)
(1.1
9)
(0.6
3)
GD
P pe
r Cap
ita
0.18
0.
22*
0.14
0.
16
(1
.88)
(2
.57)
(1
.72)
(1
.44)
R
ule
of L
aw
0.00
(0
.91)
Polit
ical
Sta
bilit
y
0.00
(0
.41)
V
oice
and
Acc
ount
abili
ty
0.01
(1
.74)
Gov
ernm
ent E
ffic
ienc
y
0.00
(0
.87)
R-S
quar
e 0.
35
0.34
0.
37
0.35
*
deno
tes s
igni
fican
ce a
t 5%
![Page 55: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/55.jpg)
Tab
le 1
1bc.
Lin
ear
Reg
ress
ion
Mod
els f
or 1
998-
2004
Ave
rage
: Det
erm
inan
ts o
f Ope
ratio
nal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -1
.80*
-2
.01*
-1
.71*
-1
.67*
(-2.
59)
(-2.
94)
(-2.
52)
(-2.
18)
Past
infla
tion
0.15
0.
04
0.22
0.
28
(0
.26)
(0
.07)
(0
.38)
(0
.44)
O
penn
ess
0.00
0.
00
0.00
0.
00
(0
.25)
(0
.14)
(0
.03)
(0
.26)
ER
Reg
ime
Dum
my
0.06
* 0.
06*
0.05
* 0.
06*
(3
.49)
(3
.49)
(2
.96)
(3
.40)
Fi
nanc
ial D
epth
0.
00
0.00
0.
00
0.00
(0.7
0)
(0.9
3)
(1.1
9)
(0.6
4)
GD
P pe
r Cap
ita
0.18
0.
22*
0.17
* 0.
15*
(1
.90)
(2
.52)
(1
.95)
(1
.38)
R
ule
of L
aw
0.00
(1
.05)
Polit
ical
Sta
bilit
y
0.00
(0
.54)
V
oice
and
Acc
ount
abili
ty
0.00
(1
.38)
Gov
ernm
ent E
ffic
ienc
y
0.01
(1
.08)
R-S
quar
e 0.
38
0.38
0.
39
0.39
*
deno
tes s
igni
fican
ce a
t 5%
![Page 56: for 1998-2004 Average * denotes significance at 5%eichengr/cournot_tables_nergiz_xmas.pdf · Table 3a. Determinants of Transparen cy: Linear Regression Models for 1998-2004 Average](https://reader033.fdocuments.us/reader033/viewer/2022050103/5f41f25d651e677a4d064b08/html5/thumbnails/56.jpg)
Tab
le 1
1bd.
Lin
ear
Reg
ress
ion
Mod
els f
or 1
998-
2004
Ave
rage
: Det
erm
inan
ts o
f Ope
ratio
nal T
rans
pare
ncy
Inde
x
I
II
III
IV
Con
stan
t -1
.34
-1.6
2*
-1.1
9 0.
06
(-
1.87
) (-
2.28
) (-
1.75
) (0
.25)
Pa
st in
flatio
n 0.
38
0.25
0.
50
0.48
(0.6
1)
(0.4
2)
(0.8
2)
(0.8
0)
Ope
nnes
s -0
.00
-0.0
0 -0
.00
-0.0
0
(-1.
76)
(-1.
75)
(-1.
69)
(-1.
28)
Ope
nnes
s*ER
Dum
my
0.00
* 0.
00
0.00
0.
00
(2
.08)
(2
.04)
(1
.53)
(1
.86)
Fi
nanc
ial D
epth
0.
00
0.00
0.
00
0.00
(0.8
6)
(1.1
0)
(1.4
1)
(0.5
1)
GD
P pe
r Cap
ita
0.18
0.
23*
0.15
0.
00*
(1
.82)
(2
.54)
(1
.66)
(3
.00)
R
ule
of L
aw
0.00
(1
.08)
Polit
ical
Sta
bilit
y
0.00
(0
.42)
V
oice
and
Acc
ount
abili
ty
0.01
(1
.75)
Gov
ernm
ent E
ffic
ienc
y
0.00
(0
.32)
R-S
quar
e 0.
31
0.30
0.
33
0.39
*
deno
tes s
igni
fican
ce a
t 5%