Tertiary industry added value growth rate

(1)

(2)

(3)

(4)

Financial industry output

0.005**

−0.003

0.006*

(0.003)

(0.004)

(0.005)

Tourism output value

−0.012**

−0.007

−0.013**

(0.007)

(0.006)

(0.004)

Education investment

0.025***

0.013**

0.017**

(0.008)

(0.006)

(0.006)

Intercept

5.818***

5.793***

5.836***

5.809***

(0.122)

(0.149)

(0.132)

(0.127)

N

24

24

24

24

R²

0.863

0.802

0.842

0.871