Low subsidies rate

Medium-low subsidies rate

Medium-high subsidies rate

High subsidies rate

Add squared term GRD²

GRD

40.24

(27.15)

24.41***

(1.947)

28.45***

(1.448)

10.88***

(0.926)

17.74***

(1.520)

FL

−0.653

(0.665)

5.218**

(1.864)

13.32**

(5.917)

0.854

(1.844)

0.425

(0.836)

OF

7.758

(29.95)

−0.316

(1.446)

−1.374*

(0.692)

11.04***

(1.636)

−0.745

(0.547)

EP

−7.32e−05

(0.00227)

−0.00303

(0.00179)

−0.00396

(0.00295)

−0.00483**

(0.00179)

0.00121

(0.000794)

Constant

59,567**

(24,864)

155,510***

(20,868)

43,568

(41,522)

45,292***

(10,624)

115,901***

(15,751)

GRD²

-

-

-

-

4.33e−05***

(6.90e−06)

Observations

40

40

40

40

160

R-squared

0.097

0.888

0.983

0.949

0.948