Variables

Model 1

HC1

Model 2

HC2

Model 3

PGap

AB

−0.0245**

−0.0477***

−0.0182***

(0.0121)

(0.00451)

(0.00142)

LN

−0.197**

−0.0886***

−0.0160***

(0.0865)

(0.0324)

(0.00102)

AGR

−0.833***

−0.0490

−0.0327

(0.279)

(0.104)

(0.0330)

CPI

−0.0255

−0.00300

−0.00290

(0.0190)

(0.00710)

(0.00224)

POP

1.095***

0.229**

0.0687*

(0.310)

(0.116)

(0.0367)

EDU

−0.163*

−0.344*

−0.152**

(0.517)

(0.0193)

(0.0611)

RPOP

−0.438

0.165

0.0295

(0.495)

(0.186)

(0.0589)

GDPPC

0.0900***

0.00182***

−0.00177***

(0.0056)

(0.00249)

(0.00788)

AL

−1.683***

−0.812***

−0.312***

(0.613)

(0.230)

(0.0727)

TR

−1.290

0.547

0.208

(1.172)

(0.442)

(0.140)

HE

−0.0737

−0.0513***

−0.0159***

(0.0339)

(0.0127)

(0.00401)

FDI

0.0634

−0.000597

−0.00972

(0.226)

(0.0847)

(0.0268)

Observations

186

186

186

F-test

19.9***

17.67***

15.1***

R-squared

0.527

0.550

0.504

Weak identification test (Cragg-Donald Wald F-stat)

22.32***

23.21***

21.33***

Over identification test (Sargan p-value)

0.224

0.299

0.589

Under identification test (Anderson p-value)

0.0005

0.0002

0.0002

Number of cid

6

6

6