| Variables | RE |
| lnIIN | −0.3279** (−2.41) |
| lnIOUT | 0.0258 (0.79) |
| lnINAB | 0.0474** (2.12) |
| lnGOV | −0.0063 (−0.59) |
| lnFIN | 0.3564 (0.42) |
| lnSCA | 0.7981*** (4.12) |
| lnOPE | 0.1562 (0.61) |
| Constants | 0.1567 (0.13) |
| R2 | 0.6279 |
| Number of samples | 49 |
| Hausman test | 3.82 |