Variable

(1)

lnPGDP

(2)

lnPGDP

(3)

lnPGDP

(4)

lnPGDP

(5)

lnPGDP

(6)

lnPGDP

lnDFI

0.2284***

0.2311***

0.1957***

0.1868***

0.1719***

0.1401***

(24.8116)

(25.4251)

(21.5308)

(21.3930)

(19.7977)

(15.1690)

INS

0.3802***

0.5637***

0.4600***

0.4079***

0.4047***

(2.9290)

(4.8677)

(4.1460)

(3.8919)

(4.2476)

INL

0.0221***

0.0194***

0.0193***

0.0168***

(8.0551)

(7.3644)

(7.7967)

(7.3403)

RDI

0.0659***

0.0608***

0.0403***

(5.2005)

(5.0858)

(3.5681)

DFT

0.4349***

0.3492***

(5.2866)

(4.6003)

RND

0.6298***

(6.6339)

Constant

9.6212***

9.2396***

9.1492***

9.1724***

9.4215***

8.9876***

(204.4046)

(66.8254)

(75.3311)

(80.0717)

(80.1296)

(71.7174)

Observations

300

300

300

300

300

300

R-squared

0.7466

0.7566

0.8147

0.8362

0.8558

0.8814