Table 3.

. | Agriculture . | Manufacturing . | Services . |
---|---|---|---|

ln YPC | −41.909^{***} | 8.828 | 10.126 |

(−4.46) | (1.44) | (1.01) | |

ln YPC squared | 2.014^{***} | −0.415 | −0.485 |

(3.99) | (−1.24) | (−0.84) | |

Agricultural endowment | 2.071^{*} | ||

(1.82) | |||

Capital endowment | −1.858 | 4.064 | |

(−1.10) | (1.64) | ||

R-squared (adjusted) | 0.39 | 0.14 | 0.33 |

Observations | 2,504 | 2,409 | 2,500 |

No. of countries | 117 | 116 | 117 |

Country fixed effects | Yes | Yes | Yes |

Year fixed effects | Yes | Yes | Yes |

. | Agriculture . | Manufacturing . | Services . |
---|---|---|---|

ln YPC | −41.909^{***} | 8.828 | 10.126 |

(−4.46) | (1.44) | (1.01) | |

ln YPC squared | 2.014^{***} | −0.415 | −0.485 |

(3.99) | (−1.24) | (−0.84) | |

Agricultural endowment | 2.071^{*} | ||

(1.82) | |||

Capital endowment | −1.858 | 4.064 | |

(−1.10) | (1.64) | ||

R-squared (adjusted) | 0.39 | 0.14 | 0.33 |

Observations | 2,504 | 2,409 | 2,500 |

No. of countries | 117 | 116 | 117 |

Country fixed effects | Yes | Yes | Yes |

Year fixed effects | Yes | Yes | Yes |

GDP = gross domestic product, ln = natural logarithm, YPC = income per capita.

Notes: *t* statistics in parentheses. ^{*}p < 0.1, ^{***}p < 0.01.

Source: Authors’ computations.

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