Variables | State-owned | Private | Foreign |
Lag 1 | 0.9618*** (0.0329) | 0.9800*** (0.0647) | 0.6823*** (0.0821) |
Lag 2 | −0.1672*** (0.0613) | 0.0503 (0.0671) | 0.2626*** (0.0465) |
Lag 3 | 0.1731*** (0.0436) | −0.1085** (0.0543) | −0.1748* (0.0957) |
ERC | 0.0370*** (0.0075) | 0.0557*** (0.0061) | −0.0551*** (0.0161) |
PGDP | −0.8557*** (0.0935) | 0.2766*** (0.0959) | 0.7308*** (0.1944) |
Wage | 0.4431*** (0.0992) | −0.1333 (0.1199) | −0.7019*** (0.1305) |
Urban | 1.1234*** (0.3042) | −0.6805*** (0.2535) | −0.0586 (0.295) |
Sargan test | 26.4383 (1.00) | 26.8706 (1.00) | 21.4642 (1.00) |
AR(1) | −2.9749 (0.0029) | −3.17 (0.0015) | −2.4688 (0.0136) |
AR(2) | 0.2791 (0.7802) | -1.5565 (0.1196) | 0.1235 (0.9017) |
Observations | 232 | 232 | 232 |