Table 3 Robustness check (2SLS) I II IV... | Emerald Publishing

Table 3

Robustness check (2SLS)

	I	II
IV	0.139***
IV	(6.02)
GD		−0.101**
GD		(−2.54)
GCF	−0.028**	−0.371***
GCF	(−2.44)	(−4.08)
FDI	0.025	0.157
FDI	(1.45)	(1.21)
CPI	0.156***	0.369*
CPI	(3.68)	(1.83)
GDP	0.102**	0.400***
GDP	(2.33)	(2.63)
EGS	0.012	−0.123***
EGS	(0.03)	(−2.75)
R-squared	0.429	0.501
Observations	989	989
country FE	YES	YES
year FE	YES	YES
F statistic	23.81

	I	II
IV	0.139***
IV	(6.02)
GD		−0.101**
GD		(−2.54)
GCF	−0.028**	−0.371***
GCF	(−2.44)	(−4.08)
FDI	0.025	0.157
FDI	(1.45)	(1.21)
CPI	0.156***	0.369*
CPI	(3.68)	(1.83)
GDP	0.102**	0.400***
GDP	(2.33)	(2.63)
EGS	0.012	−0.123***
EGS	(0.03)	(−2.75)
R-squared	0.429	0.501
Observations	989	989
country FE	YES	YES
year FE	YES	YES
F statistic	23.81

Note(s): t-statistics are in parenthesis; ***, **, and * denote statistical significance at the 1%, 5%, and 10% levels, respectively

Source(s): Authors’ own work