(1)

(2)

(3)

(4)

(5)

Honesty

−0.480***

−0.039

−0.109

−0.088**

Honesty

(0.114)

(0.139)

(0.135)

(0.037)

−0.083**

(0.036)

Consumption level

0.052

−0.904***

−1.491***

0.086

0.063

(0.214)

(0.161)

(0.186)

(0.107)

(0.107)

Science & technology

1.221***

0.776***

0.391***

0.714***

0.720***

(0.074)

(0.187)

(0.109)

(0.142)

(0.142)

Human capital

0.189***

0.141***

0.500***

0.039***

0.037***

(0.042)

(0.041)

(0.046)

(0.009)

(0.009)

Local economy

0.149

0.775***

0.328**

0.296***

0.302***

(0.109)

(0.160)

(0.142)

(0.096)

(0.097)

Constant term

1.941

5.478***

13.787***

1.795**

0.867

P fixed effect

Y fixed effect

(1.993)

Yes

Yes

(1.673)

Yes

Yes

(1.775)

Yes

Yes

(0.834)

Yes

Yes

(0.822)

Yes

Yes

N

142

66

116

324

324

R²

0.845

0.760

0.868

0.793

0.793