Variables

TEs

P > z

PTEs

P > z

SEs

P > z

PMMB

0.015136

(0.5200)

0.6000

−0.062033

(−0.6800)

0.4960

0.013382

(0.4500)

0.6560

ALR

0.000118

(0.3900)

0.6940

−0.001327

(−1.4100)

0.1590

0.000161

(0.5200)

0.6040

TTEC

0.007278***

(3.1500)

0.0020

−0.002647

(−0.4000)

0.6890

0.007235***

(3.0200)

0.0030

NPGR

0.000007

(0.8900)

0.3730

0.000060**

(1.9700)

0.0490

0.000009

(1.2000)

0.2310

IA

0.000378*

(1.6600)

0.0980

−0.001196**

(−2.0300)

0.0420

0.000135

(0.5700)

0.5690

SRTFS

0.116103***

(3.8200)

0.0000

0.410425***

(3.2800)

0.0010

0.128605***

(4.0700)

0.0000

CLC

0.000021

(0.0300)

0.9750

−0.002804**

(−2.2400)

0.0250

−0.000300

(−0.4300)

0.6650

DIFI

0.000631***

(5.0200)

0.0000

0.000030

(0.0900)

0.9270

0.000655***

(5.1000)

0.0000

PCGDP

0.003476*

(1.8000)

0.0710

−0.002703

(−0.4700)

0.6390

0.003024

(1.5100)

0.1300

Constant term

0.479975

(13.1200)

0.0000

1.192432

(10.8500)

0.0000

0.467023

(12.3900)

0.0000