Explanatory variables | high-income countries | Upper-middle-income countries | Lower-middle-income countries |
FE | FE | RE | |
TO | 0.152** (2.38) | −0.540 (−0.55) | 0.157* (1.94) |
TO2 | 0.005 (0.02) | 0.980 (0.98) | −0.946 (−0.79) |
TO*TE | −2.134* (−2.00) | −1.845** (−2.04) | 0.233 (0.15) |
TO*ER | 0.561* (1.83) | −0.472 (−0.69) | −2.257* (−1.81) |
TO*LO | 0.407** (2.16) | 0.682 (0.7) | 2.543 (0.97) |
TE | 1.544*** (2.99) | 1.402*** (3.74) | 0.153 (0.24) |
ER | −0.284* (−1.74) | 0.152 (0.52) | 0.827* (1.89) |
LO | −0.465 (−0.16) | −0.181 (−0.36) | −1.116 (−1.25) |
FDI | 0.009 (0.29) | 0.282** (2.52) | 0.091 (0.156) |
EN | −0.424* (−1.72) | −0.454 (0.90) | −0.185 (−0.1) |
UR | 2.238*** (3.05) | 0.346 (0.9) | 0.379 (1.12) |
Constant | −1.545** (−2.28) | −0.146 (−0.51) | 0.080 (0.5) |
N | 39 | 78 | 26 |