variables

(1)

lnEN

(2)

lnEN

(3)

lnEQ

(4)

lnEQ

L.lnEN

0.757***

[0.0319]

0.775***

[0.0246]

L.lnEQ

0.206***

[0.0292]

0.220***

[0.0202]

lnCTI1

−0.00366

[0.0088]

0.281***

[0.0337]

lnCTI2

0.0480***

[0.0073]

−0.0948***

[0.0316]

lnED

−0.133***

[0.0352]

−0.115***

[0.0317]

0.507

[0.4351]

0.495***

[0.1013]

lnpgdp

0.00319

[0.0031]

0.00285

[0.0030]

0.0465***

[0.0098]

0.0586***

[0.0068]

lnis

−0.179***

[0.0183]

−0.155***

[0.0178]

−0.363***

[0.0682]

−0.347***

[0.0899]

lnurban

0.666***

[0.0967]

0.733***

[0.0857]

−3.427***

[0.8916]

−4.379***

[1.0168]

lnfdi

−0.00857*

[0.0050]

−0.0113**

[0.0051]

0.140**

[0.0545]

0.139***

[0.0503]

lnopen

−0.0115**

[0.0048]

0.0103*

[0.0061]

0.431***

[0.0485]

0.286***

[0.0400]

lnch

0.0422***

[0.0081]

0.0311***

[0.0064]

−0.135***

[0.0464]

−0.214***

[0.0329]

lnkl

−0.127***

[0.0169]

−0.133***

[0.0152]

1.143***

[0.2017]

1.229***

[0.2145]

_cons

2.518***

[0.3299]

2.645***

[0.2355]

−2.161**

[0.9121]

−4.517***

[1.1389]

AR(1)

P = 0.0006

P = 0.0003

P = 0.0000

P = 0.0000

AR(2)

P = 0.5134

P = 0.6704

P = 0.2756

P = 0.3335

sargan

P = 0.9765

P = 0.9774

P = 0.4549

P = 0.4013

Observations

270

270

270

270

Number of id

30

30

30

30