Variable | Total sample | Grouped by cultural distance | |||
M1 | M2 | M3 | M4 Small CD | M5 Large CD | |
IF_AC |
| 0.5976*** (0.1094) |
|
|
|
LnAC |
|
| 0.1160*** (0.0728) | 0.1498** (0.0644) | 0.0845 (0.0583) |
LnGDP | 2.3501*** (0.0802) | 1.8968*** (0.1403) | 2.2502*** (0.0838) | 2.0611*** (01593) | 2.3361*** (0.2130) |
CD | −4.1294*** (0.1080) | −3.9416*** (0.4709) | −4.0537*** (0.1116) | −14.0186* (7.7467) | −3.7795*** (0.2865) |
LnDS | 0.9491*** (0.1906) | 1.0082*** (0.1084) | 1.0141*** (0.1983) | −0.0431 (0.0431) | 0.0049 (0.0403) |
EF | 0.0100 (0.0160) | 0.0044 (0.0193) | 0.0074 (0.0167) | 0.0361** (0.0171) | −0.0095 (0.0307) |
VISIT | 0.0191*** (0.0084) | 0.0131*** (0.0042) | 0.0116** (0.0081) | 0.0103* (0.0054) | 0.0122 (0.0086) |
CONS | −39.8519*** (2.3789) | −28.6202*** (3.7175 ) | −37.8174*** (2.4707) | −5.3430 (18.4634) | −28.7299*** (6.2070) |
R2 | 0.8012 | 0.8167 | 0.8050 | 0.8354 | 0.7770 |
OBS | 946 | 946 | 946 | 396 | 550 |