Explanatory variables | OLS | FE | FE | FE | FE | FE |
(1) | (2) | (3) | (4) | (5) | (6) | |
TO | −1.764*** (−9.69) | −0.594*** (−3.2) | −0.413* (1.74) | −0.718*** (−3.31) | −0.806*** (−3.69) | 0.095 (0.44) |
TO2 | 1.640*** (8.53) | 0.556*** (3.39) | 0.318** (2.07) | 0.996*** (4.84) | 0.444** (2.32) | 0.292 (1.43) |
TE |
| 0.531*** (9.09) | 1.136*** (8.00) | 0.602*** (5.99) | 0.651*** (6.56) | 1.000*** (5.00) |
ER |
| 0.118* (1.67) | 0.111* (1.65) | 0.509*** (3.36) | 0.129 (1.62) | 0.134 (1.01) |
LO |
| −0.183** (−2.44) | −0.134** (−2.46) | −0.173 (−1.00) | −0.645** (−2.35) | 0.072 (0.31) |
TO*TE |
|
| −1.86*** (−4.93) |
|
| −2.209*** (−5.72) |
TO*ER |
|
|
| −0.850*** (−3.05) |
| −0.090 (−0.31) |
TO*LO |
|
|
|
| 0.712** (2.27) | 0.241 (0.93) |
FDI |
| 0.118** (2.48) | 0.101** (2.21) | 0.0837* (1.69) | 0.082 (1.58) | 0.031 (0.73) |
EN |
| −0.616 (−0.77) | −0.322 (−0.53) | −0.314 (−0.12) | −0.143 (−0.55) | −0.319 (−1.6) |
UR |
| 0.134* (1.65) | 0.088 (1.35) | 0.617 (0.22) | 0.118 (0.41) | 0.583** (−2.4) |
Constant | 0.590*** (15.35) | 0.056 (0.96) | −0.261*** (−3.30) | −0.007 (−0.04) | 0.212 (1.23) | 0.366** (2.14) |
N | 143 | 143 | 143 | 143 | 143 | 143 |