Table 2 reports the regression results selected from
various estimation specifications. Per capita GDP
and the square of it are revealed to be significant at
the 1% significance level in Asia in specification 1.
The estimated signs of the coefficients show inverted
U-shape, consistent with the Kuznets hypothesis in
specifications 1, 2 and 3 even if there are insignificant
coefficients under specifications 2 and 3. Without
globalization variables, the turning point is predicted
to occur US$9375 (see column 1 in Table 2).