Explaining variables

East (5)

Middle (6)

West (7)

C

−10.120***

−12.990***

−10.663***

(1.20)

(0.97)

(1.18)

LNFIR

0.164

0.758***

1.434***

(0.29)

(0.28)

(0.32)

LNSTK

0.127***

0.008

0.099

(0.03)

(0.05)

(0.06)

LNRDE

0.835***

0.732***

0.825***

(0.12)

(0.14)

(0.15)

LNRDP

0.479***

0.560**

0.334

(0.15)

(0.23)

(0.28)

LNFDI

0.018

0.193**

0.083

(0.10)

(0.08)

(0.06)

Obs

110

80

120

R2

0.95

0.94

0.87

Model

FE

FE

FE