140
The economics of sovereignty: «secrets of success» of very small countries Table 5.2: OLS regressions for log per capita GDP and log population with control variables Dependent variable: log per capita GDP 1996(1)(2)(3) Constant Log population 1996 Trade openness Freedom index Vulnerability index Transport costs Population density Urbanization ratio War time Revolutions per year War dummy Latin America dummy Sub-Saharan Africa dummy South East Asia dummy OECD dummy Adj. R2 Number of observations3.423
(9.815) –0.030 (–0.560) ––––––––––––– –0.005 1582.068
(3.538) 0.137 (1.718) 0.975** (4.390) –––––––––––– 0.057 984.751
(7.452) –0.047 (–0.637) 1.548** (8.956) –0.091* (–2.393) –2.769** (–6.813) ––––– –0.026 (–0.375) –0.246 (–1.663) –0.615** (–5.819) –0.363* (–2.204) 0.485* (2.440) 0.871 84 Sources: logarithm of GNP, per capita income and population density from Baratta (1999); urbaniza - tion rate from World Bank; vulnerability, transport costs and trade openness from Briguglio (1995) based on IMF and UNCTAD statistics from 1991; freedom index from Freedom House; war dummy, war time and revolutions per year from Barro-Lee.