Dependent Variable:

NDT

NTL

NTSC

NTQ

Panel EGLS

Panel EGLS

Panel EGLS

Panel EGLS

Panel Least Squares

Panel Least Squares

Pooled-OLS

Pooled-OLS

1

2

1

2

3

4

3

4

DEF

0.556***

0.434***

0.885***

0.885

0.217

0.148

0.119

0.171

(13.128)

(9.327)

(27.431)

(23.38)

(6.789)

(3.37)

(2.356)

(2.897)

DEF_sq

0.00152***

0.0081***

4.86E−09

−6.46E−08

(5.06)

(0.033)

(2.234)

(1.687)

No. of observatios

245

245

245

245

245

245

245

245

F-Test

192.171***

120.744***

774.741***

385.779***

4.041***

4.143***

5.553**

4.222**

R square

0.441

0.499

0.761

0.761

0.403

0.417

0.022

0.033

Durbin-Watson stat

2.285

2.333

2.426

2.426

2.603

2.562

1.38

1.37

Hausman Test

0.141

3.762

0.005

0.019

12.335***

15.484***