Variables

OLS

(1)

Fixed Effect

(2)

Random Effect

(3)

Regression with panel-corrected standard errors(4)

Regression with panel-corrected standard errors (SEZPOLICY replaced with OPSEZ variable) (5)

(Dependent Variable = LFDI)

LPCGSDP

2.48*** (0.27)

1.95*** (0.29)

2.15*** (0.28)

2.47*** (0.46)

2.11*** (0.42)

ELEC

4.69** (1.82)

3.05 (1.83)

3.28 (1.75)

3.70 (2.57)

0.78 (2.1)

HWDNSTY

−89.99*** (9.8)

−97.27*** (9.38)

−96.08*** (9.27)

−88.49*** (16.1)

−72.18*** (14.95)

URBANDN

83.40*** (9.63)

96.02*** (10.13)

91.99*** (10.11)

78.84*** (18.14)

70.98*** (15.7)

NEARPRT

1.56*** (0.3)

1.91*** (0.26)

1.79*** (0.26)

1.53** (0.46)

1.20*** (0.43)

SEZPOLICY

1.18*** (0.24)

0.85** (0.26)

0.97*** (0.26)

1.17** (0.39)

OpSEZ

0.09*** (0.02)

Constant

−12.33*** (1.59)

−8.35*** (1.77)

−9.68*** (1.69)

−11.87*** (2.95)

−8.98** (2.71)

Observations

224

224

224

224

224

R squared

0.62

0.66

0.66

0.71

0.81

F test

59.25

65.77

-

-

-

Wald Chi 2

-

-

396.36

104.80

152.01

Hausman test

chi2(6) = 10.47

Breusch-Pagan /Cook-Weisberg test for heteroskedasticity

chi2(1) = 0.01

Wooldridge test for autocorrelation

F( 1, 13) = 17.586