Variables

China

United States

France

United Kingdom

GDP

2.100

11.900*

5.319*

−2.811

(1.40)

(2.29)

(2.04)

(−1.08)

BCI

−4.364

0.442

1.504**

2.713***

(−1.26)

(0.45)

(2.87)

(3.50)

DEM

−0.578

0.088

0.047

0.294

(−1.25)

(0.35)

(0.46)

(1.55)

EXP

0.373

−0.153

0.666***

0.891***

(1.29)

(−1.74)

(9.65)

(8.54)

DIST

0.147

−0.643

0.176

0.712

(0.19)

(−1.60)

(0.82)

(1.66)

POP

−0.113

1.247***

0.216***

−0.031

(−0.24)

(9.26)

(3.76)

(−0.28)

CCV

−0.140

−0.584

−0.147

−0.146

(−0.18)

(−0.95)

(−0.60)

(−0.36)

TER

−0.210

0.502

0.060

0.282

(−0.36)

(1.12)

(0.35)

(0.86)

BCI_DON

14.490

1.063

−5.681*

−7.635*

(0.32)

(0.20)

(−2.37)

(−2.08)

GDP_RATIO

1.629

12.070*

5.535*

−1.178

(1.25)

(2.33)

(2.13)

(−0.45)

Intercept

−43.04

−128.20**

−43.54

32.38

(−0.24)

(−2.78)

(−1.74)

(1.33)

N

184

348

301

376