PDM

SDM (W1)

SDM (W2)

Variables

ER1

Panel

0.181*

Main

−0.0237

Wx

0.503***

Main

−0.0204

Wx

0.290

(0.0935)

(0.0807)

(0.143)

(0.0838)

(0.183)

ER2

−0.643*

0.640*

−1.581**

0.503

−1.179*

(0.385)

(0.370)

(0.632)

(0.374)

(0.620)

ER3

2.203***

1.590***

−0.0339

1.087*

1.859

(0.695)

(0.587)

(1.156)

(0.603)

(1.219)

OPEN

0.365

1.079**

−4.048***

1.556***

−2.848***

(0.571)

(0.492)

(0.779)

(0.521)

(0.799)

FDI

−16.51***

0.0206

0.123

−0.0264

−0.243

(5.328)

(0.120)

(0.232)

(0.128)

(0.333)

PGDP

−0.0173

−12.46**

2.928

−8.403*

−12.28

(0.148)

（4.859）

(9.679)

(4.626)

(9.436)

rho

_

0.152**

0.393***

_

(0.068)

(0.0828)

sigma 2_e

_

0.00447***

0.00500***

_

(0.000385)

(0.000461)

Log L

_

346.6773

291.8016

Wald

_

74.72***

33.76***

LR

_

93.46***

30.41***

Hausman

13.05**