(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