Explanatory Variable | Explained Variable | Explained Variable | ||||
(1) | (2) | (3) | (1) | (2) | (3) | |
L. | 1.00096 | 0.983*** | 0.964*** |
|
|
|
| (32.32) | (15.08) | (10.38) |
|
|
|
L. |
|
|
| 0.90301*** | 0.895*** | 0.714*** |
|
|
|
| (268.85) | (57.72) | (67.05) |
agg | −0.0642*** | −0.0503*** | −0.0805*** | −0.0942*** | −0.115*** | −0.221** |
| (−9.31) | (−3.80) | (−3.04) | (−14.01) | (−4.63) | (−2.29) |
Agg2 | 0.0282*** | 0.0240*** | 0.0252*** | 0.0491*** | 0.0550*** | 0.0454** |
| (10.77) | (4.22) | (3.35) | (35.68) | (7.60) | (2.17) |
market |
| −0.203*** | −0.139** |
| 0.112 | 0.389* |
|
| (−2.60) | (−2.45) |
| (0.91) | (1.67) |
fdi |
| −0.0118*** | −0.00460** |
| 0.0148*** | 0.0730*** |
|
| (−3.18) | (−2.20) |
| (5.43) | (3.67) |
edu |
| −0.0372*** | −0.0160*** |
| −0.00789* | 0.00106** |
|
| (−4.08) | (−3.62) |
| (−1.12) | (2.44) |
third |
| −0.0437*** | −0.00116** |
| 0.0867*** | 0.00704*** |
|
| (−3.67) | (−2.25) |
| (5.13) | (5.39) |
gov |
| 0.0328* | 0.0689 |
| 0.0753 | 0.571* |
|
| (1.93) | (1.07) |
| (0.91) | (1.95) |
pop |
| −0.0577 | 0.356* |
| 0.0215 | 0.280** |
|
| (−0.60) | (1.64) |
| (0.37) | (2.56) |
pgdp |
| −0.0508* | −0.0804** |
| 0.0253* | −0.0347 |
|
| (−1.86) | (−2.50) |
| (2.19) | (−1.01) |
wage |
| 0.0601*** | 0.00975*** |
| −0.0389*** | −0.0395*** |
|
| (3.78) | (3.32) |
| (−3.62) | (−4.69) |
Gov*agg |
|
| 0.0336** |
|
| 0.225*** |
|
|
| (2.67) |
|
| (2.71) |
cons |
| 0.302*** | −2.812 | 0.680*** | −0.420 | −2.130*** |
|
| (4.82) | (−1.58) | (18.63) | (−1.02) | (−2.84) |
AR(1) | 0.0185 | 0.0189 | 0.0155 | 0.0235 | 0.0211 | 0.0173 |
AR(2) | 0.2696 | 0.6957 | 0.4158 | 0.1956 | 0.2034 | 0.6960 |
Sargan | 1.0000 | 1.0000 | 1.0000 | 1.0000 | 1.0000 | 1.0000 |
N | 510 | 510 | 510 | 510 | 510 | 510 |