Model (1)

Model (2)

Model (3)

Model (4)

Model (5)

Model (6)

Model (7)

DIGE

0.0000259***

(4.96)

0.0000231***

(4.51)

0.0000341***

(4.61)

0.0000372***

(4.76)

0.0000385***

(4.97)

0.0001073***

(9.16)

0.0000814***

(7.15)

RGDP

6.04e−06***

(3.48)

−0.0000211

(−1.58)

−0.0000137

(−0.93)

−0.0000428**

(−2.22)

−0.0000782***

(−4.41)

−0.0002878***

(−7.66)

HUMA

0.00003**

(2.05)

0.000034**

(2.27)

0.0000474***

(2.98)

0.0000264*

(1.84)

0.0000955***

(5.57)

GOVR

−5.988954

(−1.17)

−7.634656

(−1.50)

12.3893**

(2.34)

−14.56609**

(−2.26)

FDL

0.8876814**

(2.29)

0.7687185**

(7.25)

−2.668658***

(−4.20)

INFRA

2.190783**

(2.26)

1.88549***

(6.77)

INVEST

0.0052444***

(6.20)

_cons

0.4660947***

(9.06)

0.2529454***

(3.19)

−1.59212*

(−1.76)

−1.290134

(−1.38)

−2.557346**

(−2.37)

−5.822197***

(−5.52)

−1.821056

(−1.58)

Wald

24.62

38.26

43.09

44.93

51.34

117.83

179.14

Prob

0.0000

0.0000

0.0000

0.0000

0.0000

0.0000

0.0000

Loglike

−39.1047

−33.1939

−31.1169

−30.4369

−27.8445

−4.4683

13.1773

LR test

88.02***

93.23***

95.11***

95.85***

98.28***

123.05***

143.35***

Obs

243

243

243

243

243

243

243