- In the equation GEXR the coefficients are significant; the emigration is negatively correlated with the growth rate of the public local expenditure.
- A negative coefficient of MYHR in the equation GEXR indicates the fact that the regions with a high growth rate of the average net monthly salaries correspond with a situation of decrease of the growth of local expenditure.
The results of the GEXR equation are mostly consistent from the point of view of the theoretical expectations.
Error t-Statistic D(INMR?) -0.002250 0.001594 -1.411916 D(OTMR?) 0.004297 0.001136 3.782701 D(MYHR?) 0.202015 0.037376 5.404966 D(GEXR
?) 0.000943 0.000166 5.669024 OTMR_RO -0.000180 1.57E-05 -11.45982 MYHR_RO 0.291378 0.024935 11.68542 GEXR_RO -0.007818 0.000674 -11.59702 R-squared 0.400763 Mean dependent var Adjusted R-squared 0.360365 S.D.