Variable

Coefficient

Std. Error

t-Statistic

Prob.

C

9.43655

6.720813

1.404079

0.1696

ACP

−0.04788

0.051154

−0.93595

0.3561

APP

−0.0166

0.004711

−3.5232

0.0013

ICP

0.043601

0.105288

0.414106

0.6815

Effects Specification

Cross-section fixed (dummy variables)

R-squared

0.416598

Mean dependent var

5.073917

Adjusted R-squared

0.310524

S.D. dependent var

8.961689

S.E. of regression

7.441309

Akaike info criterion

7.009599

Sum squared resid

1827.312

Schwarz criterion

7.305153

Log-likelihood

−133.192

Hannan-Quinn criter.

7.116462

F-statistic

3.927454

Durbin-Watson stat

0.921618

Prob(F-statistic)

0.00453