| The dependent variable = | |
Variable | Model (1) | Model (2) |
| 0.414*** (52.47) | 0.411*** (52.02) |
| 0.288*** (20.61) | 0.283*** (20.18) |
| 1.429** (2.34) | 1.546** (2.52) |
|
| 0.104** (2.33) |
D | 0.045*** (6.77) | 0.045*** (6.81) |
Eighteen | 0.044*** (3.19) | 0.047*** (3.31) |
The state |
| 0.032*** (5.93) |
| 0.112*** (6.52) | 0.118*** (6.71) |
| 0.000 (0.02) | 0.004 (0.19) |
(GDP) | 0.167** (2.30) | 0.170** (2.33) |
_cons | 0.031*** (1.69) | 0.062*** (3.22) |
Industry | CONTROL | CONTROL |
Year | CONTROL | CONTROL |
F | 75.06*** | 73.14*** |
Adjust the R2 | 22.80% | 22.91% |
N | 15544 | 15544 |