(1)

(2)

(3)

GDP per capita

−0.78^***

1.37^*

1.04

(0.13)

(0.77)

(0.98)

Domestic credit to private sector as % of GDP

−0.10^**

(0.04)

0.02

(0.17)

−0.11

(0.26)

Openness

0.10

0.26

0.55

(0.11)

(0.50)

(0.69)

Restrictions

Inflation below 50%

Inflation above 50%

Inflation above 100%

N

2377

148

80

adj. R²

0.10

0.02

0.05