(1)

(2)

Honesty

−0.088**

−0.347*

(0.037)

(0.202)

Consumption level

0.086

−0.478*

(0.107)

(0.246)

Science & technology

0.714***

0.222*

(0.142)

(0.123)

Human capital

0.039***

0.219***

(0.009)

(0.036)

Local economy

0.296***

0.317*

(0.096)

(0.164)

Constant term

1.795**

8.088***

P fixed effect

Y fixed effect

(0.834)

Yes

Yes

(1.579)

Yes

Yes

N

324

125

R²

0.793

0.365