Model | (1) | (2) | (3) | (4) | (5) | (6) |
Estimation method | SYS-GMM | SYS-GMM | SYS-GMM | SYS-GMM | FE | OLS |
QEG (−1) | 1.025*** (0.015) | 1.005*** (0.024) | 0.935*** (0.025) | 0.767*** (0.042) | 0.711*** (0.031) | 0.926*** (0.029) |
PS | 0.082** (0.034) | 0.081*** (0.029) | 0.080** (0.032) | 0.109*** (0.027) | 0.165*** (0.048) | 0.073 (0.053) |
SECH | 0.059* (0.030) | 0.084* (0.043) | 0.149*** (0.036) | 0.211*** (0.038) | 0.119*** (0.038) | 0.079** (0.035) |
SS | 0.109*** (0.026) | 0.125*** (0.026) | 0.236*** (0.036) | 0.296*** (0.044) | 0.298*** (0.037) | 0.168*** (0.035) |
EP | 0.147*** (0.051) | 0.297*** (0.075) | 0.328*** (0.085) | 0.456*** (0.098) | 0.478*** (0.102) | 0.196** (0.087) |
EC | 0.070*** (0.024) | 0.085** (0.036) | 0.175*** (0.032) | 0.145*** (0.044) | 0.095*** (0.029) | 0.049 (0.036) |
EXP |
| 0.035 (0.023) | 0.042 (0.028) | 0.099*** (0.025) | 0.285*** (0.033) | 0.041*** (0.014) |
OPEN |
|
| 0.022*** (0.003) | 0.042*** (0.006) | 0.016** (0.008) | 0.015*** (0.004) |
PGDP |
|
|
| 0.009*** (0.002) | 0.008*** (0.001) | 0.004*** (0.001) |
_cons | −0.054*** (0.017) | −0.074*** (0.025) | −0.121*** (0.024) | −0.156*** (0.025) | −0.143*** (0.022) | −0.064** (0.027) |
Obs. | 300 | 300 | 300 | 300 | 300 | 300 |
AR (1) | 0.002 | 0.002 | 0.004 | 0.003 |
|
|
AR (2) | 0.125 | 0.111 | 0.111 | 0.318 |
|
|
Hansen | 1.000 | 1.000 | 1.000 | 1.000 |
|
|