Dependent variable

Explicative variables

Y1

Y2

Y3

CONSTANT

−2.4457^***

−1.5983^***

−2.3871^***

(0.2834)

(0.3533)

(0.2765)

TEND

0.5005^***

0.3309^***

0.4619^***

(0.0606)

(0.0631)

(0.0607)

Δln(L)

−0.7515^***

(0.2215)

Δln(L) [−1]

0.5793^***

0.5755^***

0.6736^***

(0.1538)

(0.1477)

(0.1572)

Δln(PC)

0.0632^***

0.0616^***

0.0616^***

(0.0204)

(0.0182)

(0.0198)

Δln(PC) [−2]

0.0514^**

0.0500^*

(0.0236)

(0.0268)

Δln(HC) [−1]

0.5862^***

0.5028^***

0.6256^***

(0.2193)

(0.1885)

(0.2139)

Δln(HC^*AER)

0.8713^***

0.5638^**

0.8851^***

(0.2659)

(0.2353)

(0.2581)

INFRA_WATER

1.0043^***

0.6238^*

0.9832^***

(0.3764)

(0.3655)

INFRA_WATER [−2]

−0.0990^*

−0.0960^*

(0.0551)

(0.0535)

Adjusted R²

0.61

0.69

0.62

Observations

96 (T = 3; N = 32)