	(1)	(2)	(3)	(4)	(5)	(6)
VARIABLES	Primary balance	Government debt	Interest payments	Real GDP growth	Inflation	Current account balance
						
rules_in_place	0.83***	0.72**	0.69**	0.79***	0.77***	0.83***
	(0.24)	(0.29)	(0.29)	(0.24)	(0.28)	(0.24)
c.rules_in_place#cL.GGXONLB_NGDP	-0.04					
	(0.03)					
L.GGXONLB_NGDP	-0.03*	-0.05***	-0.05***	-0.05***	-0.05***	-0.05***
	(0.02)	(0.02)	(0.02)	(0.02)	(0.02)	(0.02)
L.GGXWDG_NGDP	0.01***	0.01***	0.01***	0.01***	0.01***	0.01***
	(0.00)	(0.00)	(0.00)	(0.00)	(0.00)	(0.00)
L.INTP_GGR	0.05***	0.05***	0.05***	0.05***	0.05***	0.05***
	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)
L.NGDP_RPCH	0.00	0.00	0.00	-0.00	0.00	0.00
	(0.01)	(0.01)	(0.01)	(0.02)	(0.01)	(0.01)
L.lnNGDP_D_fd2	-0.07*	-0.07*	-0.08*	-0.08**	-0.09*	-0.08*
	(0.04)	(0.04)	(0.04)	(0.04)	(0.05)	(0.04)
L.BCA_NGDPD	0.05***	0.05***	0.05***	0.05***	0.05***	0.06***
	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)
hipc	-0.05	-0.05	-0.04	-0.03	-0.04	-0.04
	(0.38)	(0.39)	(0.38)	(0.38)	(0.38)	(0.38)
imf_support	0.10	0.08	0.06	0.06	0.07	0.08
	(0.36)	(0.36)	(0.36)	(0.36)	(0.36)	(0.36)
POLenv	0.14	0.14	0.13	0.14	0.14	0.14
	(0.12)	(0.12)	(0.12)	(0.12)	(0.12)	(0.12)
ear90s	-1.47***	-1.51***	-1.49***	-1.48***	-1.50***	-1.48***
	(0.54)	(0.55)	(0.54)	(0.53)	(0.54)	(0.53)
mid90s	-0.63	-0.64	-0.58	-0.62	-0.62	-0.61
	(0.45)	(0.46)	(0.44)	(0.44)	(0.44)	(0.44)
ear00s	-1.10**	-1.12**	-1.05**	-1.08**	-1.09**	-1.10**
	(0.46)	(0.47)	(0.45)	(0.45)	(0.45)	(0.45)
mid00s	-1.04**	-1.06**	-0.98**	-1.02**	-1.04**	-1.05**
	(0.46)	(0.46)	(0.45)	(0.45)	(0.45)	(0.45)
ear10s	-1.11**	-1.11**	-1.02**	-1.05**	-1.07**	-1.09**
	(0.48)	(0.48)	(0.46)	(0.46)	(0.46)	(0.46)
mid10s	-1.27**	-1.29***	-1.20**	-1.25***	-1.25***	-1.26***
	(0.49)	(0.50)	(0.48)	(0.48)	(0.48)	(0.48)
ear20s	-2.12***	-2.13***	-2.05***	-2.07***	-2.08***	-2.09***
	(0.62)	(0.62)	(0.60)	(0.60)	(0.60)	(0.60)
emde	-0.33	-0.30	-0.40	-0.30	-0.31	-0.32
	(0.42)	(0.43)	(0.44)	(0.42)	(0.42)	(0.42)
Commodity	0.55**	0.55**	0.55**	0.53**	0.53**	0.52*
	(0.26)	(0.27)	(0.27)	(0.27)	(0.27)	(0.27)
ss	-0.20	-0.23	-0.24	-0.24	-0.23	-0.23
	(0.39)	(0.41)	(0.41)	(0.40)	(0.40)	(0.40)
lnsig2u	0.09	0.14	0.18	0.11	0.11	0.09
	(0.36)	(0.36)	(0.37)	(0.36)	(0.36)	(0.36)
c.rules_in_place#cL.GGXWDG_NGDP		0.00				
		(0.00)				
c.rules_in_place#cL.INTP_GGR			0.01			
			(0.02)			
c.rules_in_place#cL.NGDP_RPCH				0.02		
				(0.02)		
c.rules_in_place#cL.lnNGDP_D_fd2					0.03	
					(0.08)	
c.rules_in_place#cL.BCA_NGDPD						-0.02
						(0.02)
Constant	-2.03***	-1.98***	-1.98***	-2.00***	-1.98***	-2.00***
	(0.52)	(0.52)	(0.51)	(0.51)	(0.52)	(0.51)
						
Observations	2,816	2,816	2,816	2,816	2,816	2,816
Number of ccode	122	122	122	122	122	122
Log likelihood	-709.4	-710.7	-710.2	-710.9	-711	-710
