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Table 3. 
Determinants of Sectoral Shares of Valued Added, 1991–2014 (% of GDP)
AgricultureManufacturingServices
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 
AgricultureManufacturingServices
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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