From: An empirical inquiry into the determinants of public education spending in Europe
SUR estimates for the model specifications: | Baseline | Baseline & GDP per capita | Extended | Extended & GDP per capita | Extended & country dummies | Extended & output gap |
---|---|---|---|---|---|---|
Specification | (1) | (2) | (3) | (4) | (5) | (6) |
Δlog (spending per student, FTE, at ISCED 0–1) [eq1] | ||||||
Δlog (ULC) | 1.18*** | 1.11*** | 1.00*** | 1.03*** | 0.93*** | 0.66*** |
(7.00) | (6.96) | (4.94) | (5.22) | (4.30) | (3.01) | |
Δlog (real GDP per capita) | 0.81*** | 0.64*** | ||||
(5.46) | (3.49) | |||||
Ouput gap | 0.85*** | |||||
(3.43) | ||||||
Δlog (pupil/teacher ratio) (−1) | −0.16 | −0.12 | −0.11 | −0.12 | ||
(−1.26) | (−0.92) | (−0.79) | (−0.95) | |||
Δlog (share of capital expenditure) (−1) | 0.07** | 0.05 | 0.06* | 0.06* | ||
(2.15) | (1. 35) | (1.89) | (1.90) | |||
Δlog (share of teachers’ wages expenditure) (−1) | 0.45** | 0.46** | 0.55*** | 0.37* | ||
(2.24) | (2.36) | (2.64) | (1.92) | |||
Constant | 3.48*** | 2.31*** | 4.27*** | 3.26*** | 4.17 | 4.89*** |
(4.70) | (3.17) | (5.28) | (3.89) | (1.46) | (6.05) | |
Δlog (spending per student, FTE, at ISCED 2–4) [eq2] | ||||||
Δlog (ULC) | 0.69*** | 0.64*** | 0.61*** | 0.64*** | 0.43* | 0.31 |
(3.93) | (3.74) | (2.79) | (2.97) | (1.88) | (1.28) | |
Δlog (real GDP per capita) | 0.61*** | 0.60*** | ||||
(3.81) | (3.02) | |||||
Ouput gap | 0.76*** | |||||
(2.83) | ||||||
Δlog (pupil/teacher ratio) (−1) | −0.33** | −0.29** | −0.35** | −0.30** | ||
(−2.36) | (−2.07) | (−2.40) | (−2.11) | |||
Δlog (share of capital expenditure) (−1) | 0.05 | 0.03 | 0.04 | 0.04 | ||
(1.28) | (0.72) | (1.12) | (1.05) | |||
Δlog (share of teachers’ wages expenditure) (−1) | 0.47** | 0.48** | 0.58*** | 0.41* | ||
(2.20) | (2.29) | (2.65) | (1.92) | |||
Constant | 3.71*** | 2.84*** | 3.98*** | 3.03*** | 3.42 | 4.54*** |
(4.82) | (3.63) | (4.56) | (3.32) | (1.14) | (5.15) | |
Δlog (spending per student, FTE, at ISCED 5–6) [eq3] | ||||||
Δlog (ULC) | 1.11*** | 1.06*** | 0.80*** | 0.82*** | 0.83*** | 0.70*** |
(5.90) | (5.75) | (3.75) | (3.88) | (3.50) | (2.90) | |
Δlog (real GDP per capita) | 0.66*** | 0.49** | ||||
(3.87) | (2.48) | |||||
Ouput gap | 0.27 | |||||
(1.00) | ||||||
Δlog (share of capital expenditure) (−1) | 0.07** | 0.06* | 0.07* | 0.07** | ||
(2.12) | (1.65) | (1.78) | (2.02) | |||
Δlog (share of teachers’ wages expenditure) (−1) | 0.46** | 0.46** | 0.55** | 0.43** | ||
(2.16) | (2.22) | (2.37) | (2.04) | |||
Constant | 0.56 | −0.39 | 1.70** | 0.90 | −0.29 | 1.89** |
(0.68) | (−0.46) | (2.00) | (1.00) | (−0.09) | (2.17) | |
Observations | 247 | 247 | 206 | 206 | 206 | 206 |
R 2 [eq1] | 0.17 | 0.26 | 0.18 | 0.22 | 0.28 | 0.22 |
R 2 [eq2] | 0.06 | 0.11 | 0.10 | 0.14 | 0.25 | 0.14 |
R 2 [eq3] | 0.13 | 0.18 | 0.12 | 0.15 | 0.18 | 0.13 |
AIC | 5474.48 | 5440.62 | 4570.36 | 4556.55 | 4635.34 | 4560.56 |
BIC | 5495.53 | 5472.20 | 4616.95 | 4613.12 | 4911.55 | 4617.14 |
Breusch-Pagan test of independence stat. (p-val.) | 53.77 (0.00) | 34.67 (0.00) | 29.95 (0.00) | 21.27 (0.00) | 27.04 (0.00) | 24.46 (0.00) |