Explanatory variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
FD | 0.6570*** (0.5300) | 1.1466** (0.5204) | 0.2358*** (0.5724) | 0.3185*** (0.5356) | 0.6769*** (0.4328) | 0.8041*** (0.4816) | 0.8905** (0.5043) |
LNGDP |
| 0.7381*** (0.1876) | 0.4992** (0.1957) | 0.0922** (0.2255) | 0.1297*** (0.1697) | 0.3158** (0.3700) | 0.3048*** (0.3735) |
SECI |
|
| 0.5772*** (0.7775) | 0.4088*** (0.1248) | 0.2044** (0.2999) | 0.7885*** (0.4698) | 0.5849** (0.5161) |
TERI |
|
|
| 0.7436 (1.8023) | 0.7527 (1.1553) | 0.7104 (1.4647) | 0.6297 (1.4914) |
OPEN |
|
|
|
| 0.5461*** (0.1020) | 0.7304*** (0.1991) | 0.6853*** (0.2139) |
UR |
|
|
|
|
| −0.4553** (0.1327) | −0.6690*** (0.1757) |
LNDOP |
|
|
|
|
|
| 0.0975** (0.1586) |
C | −0.4543** (0.4010) | −9.0239*** (0.2415) | −4.6315*** (0.5254) | −8.7241*** (0.7645) | −7.484*** (0.6872) | −4.7169*** (0.2955) | −5.0342*** (0.3574) |
R-squared | 0.7790 | 0.8200 | 0.8317 | 0.8590 | 0.8679 | 0.8836 | 0.9117 |
F | 7.5364*** | 8.4252*** | 9.8399*** | 8.9685*** | 18.9637*** | 14.4737*** | 12.2631*** |
Huasman | 18.026*** | 20.107*** | 20.559*** | 19.364*** | 23.860*** | 21.359*** | 23.201*** |