| (1) | (2) | (3) |
market | 0.0529*** | 0.00106*** | 0.0569*** |
| (0.00766) | (0.00041) | (0.00760) |
lnK | /
| /
| 0.0243 |
| (0.0799) | ||
lnL | 0.379*** | 0.567*** | 0.365*** |
| (0.0586) | (0.0338) | (0.0742) |
Inf | −6.375*** | 0.875** | −6.396*** |
| (0.741) | (0.426) | (0.745) |
Eco | 1.224*** | 1.175*** | 1.195*** |
| (0.0804) | (0.0462) | (0.124) |
Hum | 0.499 | 0.835*** | 0.478 |
| (0.400) | (0.230) | (0.406) |
Open | 0.144 | −0.0253 | 0.145 |
| (0.124) | (0.0714) | (0.124) |
Cons | −8.203*** | −5.120*** | −8.079*** |
| (0.492) | (0.283) | (0.640) |
Time effect | Yes | Yes | Yes |
Regional effect | Yes | Yes | Yes |
Hausman | 0.0000 | 0.0000 | 0.0000 |
R-square | 0.925 | 0.972 | 0.925 |
Observations | 510 | 510 | 510 |