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Fig 1.

Current statistics about national income accounting and economic welfare.

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Fig 2.

Conceptual framework.

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Table 1.

Measurement of independent variable.

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Table 2.

Measurement of dependent variables.

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Table 3.

Descriptive statistics.

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Table 4.

Correlation matrix.

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Table 5.

Results of regression.

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Table 6.

Cointegration test.

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Table 7.

Robustness analysis: Generalized method of movement (GMM).

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Table 8.

Decision of the hypothesis.

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