(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

Eastern

Part

Central

Section

Western

Part

Eastern

Part

Central

Section

Western

Part

Eastern

Part

Central

Section

Western

Part

VARIABLES

ln_cpi

ln_cpi

ln_cpi

ln_fep

ln_fep

ln_fep

ln_fes

ln_fes

ln_fes

c. inst# c. ote

−0.0345*

−0 0455**

−0.0820***

−0.0519

−0.246*

−0.159

−0.00352

−0.0606**

−0.0870***

(0.0183)

(0.0224)

(0.0242)

(0.0872)

(0.128)

(0.125)

(0.0194)

(0.0258)

(0.0275)

Constant

8.101***

4.608***

7.924***

2.502***

−1.170

0.843

8.211***

5.430***

8.337***

(0.187)

(0.282)

(0.196)

(0.759)

(1.481)

(1.033)

(0.170)

(0.353)

(0.241)

Control variables

be

be

be

be

be

be

be

be

be

Observations

3842

2577

2045

4292

2825

2223

4291

2825

2223