(1)

(2) FE

(3)

(4) FE

(5)

(6) FE

Explained variable

lnrGDP

lnrGDP

RVGDP

RVGDP

g₁

g₁

Interaction term β

0.41*

(0.23)

0.12***

(0.04)

0.31***

(0.11)

0.03

(0.05)

8.43***

(2.69)

12.95***

(2.64)

$X_{it}$

—

Yes

—

Yes

—

Yes

${\delta }_i$

—

Yes

—

Yes

—

Yes

${\gamma }_t$

—

Yes

—

Yes

—

Yes

N

357

357

357

357

357

357

R²

0.270

0.987

0.002

0.575

0.244

0.587