| (1) | (2) | (3) | (4) |
L_GDP_PC | 1.438*** | 1.358*** | 1.121*** | 1.254*** |
| (0.186) | (0.176) | (0.193) | (0.185) |
L_PERSONAL | 0.874*** | 0.651*** | 0.358*** | 0.393*** |
| (0.169) | (0.149) | (0.124) | (0.130) |
OPENNESS |
| 0.016*** | 0.012*** | 0.009** |
| (0.003) | (0.003) | (0.004) | |
ED_SHARE |
| 0.090*** | 0.062** | 0.061** |
| (0.023) | (0.023) | (0.022) | |
INTER |
| 0.087*** | ||
| (0.020) | |||
IP |
| 0.044*** | ||
| (0.014) | |||
TERTIARY |
| 0.071*** | 0.070*** | |
|
| (0.010) | (0.011) | |
UNI_RD |
| 0.004 | 0.002 | |
|
| (0.007) | (0.007) | |
BANK |
| −0.013* | −0.014* | |
|
| (0.007) | (0.007) | |
_cons | −16.180*** | −15.092*** | −12.646*** | −13.825*** |
| (1.662) | (1.446) | (1.113) | (1.186) |
N | 240 | 240 | 240 | 240 |
r2 | 0.766 | 0.806 | 0.865 | 0.864 |
r2_a | 0.764 | 0.802 | 0.861 | 0.859 |