Correction

This article refers to:

The effects of institutional typologies on the performance of state-sponsored local government investment pools

Article title: The effects of institutional typologies on the performance of state-sponsored local government investment pools

Authors: Julius A. Nukpesah

Journal: Public Money & Management

Bibliometrics: Volume 38, Number 3, pages 213 – 222

DOI: https://doi.org/10.1080/09540962.2018.1434344

A data entry error was identified in the institutional typology variables, which has been corrected.

The rerun model is more appropriately specified as a random effects regression with robust standard errors. The levels of significance for the main independent variables in the rerun model remain unchanged, and the conclusion that institutional typologies with which LGIPs operate affect their performance confirmed. However, both Contracted LGIPs and Competition are not significant predictors of performance in the rerun model.

Table 3. Descriptive statistics for 18 LGIPs (January 2008 to December 2014).

Variable	No. of observations	Mean	SD	Minimum	Maximum
Performance (basis point)	1,512	24.745	39.318	-65.5	247.4
Yield (%)	1,512	0.633	0.926	0.01	5.293
Closed LGIPs	1,512	0.500	0.500	0	1
Semi-open LGIPs	1,512	0.278	0.448	0	1
Open LGIPs	1,512	0.222	0.416	0	1
Rated/rule 2a-7	1,512	0.444	0.497	0	1
Contracted LGIPs	1,512	0.222	0.415	0	1
Competition	1,512	0.500	0.500	0	1
Economic recession	1,512	0.214	0.410	0	1

Table 5. Regression results for the determinants of LGIP performance.

	Model 1		Model 2
	β	RSE	β	RSE
Performance (t-1) in basis points	0.586	0.025**	0.585 9.361 16.366 1.208 0.014 18.199 -3.888 1511 0.754 4067**	0.280** 1.412** 3.399** 2.464 0.570 2.508** 2.188*
Yield (%)	9.475	1.431**
Recession = 1	16.115	3.043**
Competition = 1	0.364	2.360
Rated/rule 2a-7 = 1	-8.44	2.215**
Contracted = 1	1.620	1.695
Open = 1 (versus semi-open)
Closed = 1 (versus semi-open)
Constant	3.986	1.850*
Number of observations	1511
R2	0.753
Wald Chi2 statistic Notes: *p < 0.05; **p < 0.01.	3819**