Variable

Gi

Absinv

Gi

Kz

Gtp

ISO

0.108***

−0.003***

0.104***

−0.184***

0.100***

(3.946)

(−2.624)

(3.822)

(−4.573)

(3.657)

Absinv

−1.153***

(−4.780)

Kz

−0.043***

(−6.360)

Control Variables

Yes

Yes

Yes

Yes

Yes

_cons

−1.549***

0.064***

−1.475***

1.386***

−1.489***

(−7.301)

(7.263)

(−6.942)

(4.438)

(−7.025)

Year/Ind/Province

Yes

Yes

Yes

Yes

Yes

Observations

9940

9940

9940

9940

9940

R²

0.321

0.116

0.323

0.568

0.324