Variables

lnTFPt

(1)

(2)

(3)

(4)

lnTFPt−1

0.843***

(60.67)

0.912***

(54.37)

0.821***

(44.03)

0.893***

(40.11)

lnGt−1

−0.351***

(−11.86)

−0.185***

(−4.51)

−0.132***

(−2.93)

−0.094*

(−1.90)

lnHight−1

0.086***

(5.79)

0.058***

(4.14)

Indust−1

0.210

(1.21)

−0.004

(−0.02)

−0.031

(−0.19)

−0.597***

(−3.38)

markett−1

0.128

(1.28)

0.052

(0.84)

0.060

(0.70)

−0.054

(−0.88)

opent−1

0.032

(0.99)

0.005

(0.15)

0.032

(1.29)

0.006

(0.20)

_cons

−0.929***

(−11.20)

−0.477***

(−4.44)

−0.807***

(−7.43)

−0.491***

(−3.54)

AR(1)

0.0012

0.0023

0.0058

0.0042

AR(2)

0.6523

0.4852

0.6512

0.3575

Sargan test

1.000

1.000

1.000

1.000

N

464

493

464

493