Table 5

Heterogeneity analysis results

GenderEducational background
IIIIIIIVV
GD−0.120***−0.039**−0.147***0.034***−0.355
(−4.23)(−2.01)(−4.38)(2.85)(−0.98)
GCF−0.453***−0.308***−0.594***−0.598***−0.504***
(−7.73)(−4.89)(−8.05)(−8.59)(−6.91)
FDI0.0600.0430.0290.0520.068
(1.31)(0.88)(0.60)(1.15)(1.44)
CPI0.247***0.136***0.131**0.104**0.173***
(5.80)(2.97)(2.40)(2.03)(3.22)
GDP−0.878***−0.790***−0.747***−0.949***−0.746***
(−10.56)(−8.84)(−7.27)(−9.74)(−7.31)
EGS−0.028−0.044−0.042−0.223***−0.150**
(−0.55)(−0.80)(−0.68)(−3.79)(−2.43)
Constant1.991***1.529***2.137***1.620***1.539***
(15.21)(13.49)(12.57)(16.24)(11.71)
R-squared0.8500.7860.8280.9120.800
country FEYESYESYESYESYES
year FEYESYESYESYESYES

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

Source(s): Authors’ own work
[ViewLarge]
This Feature Is Available To Subscribers Only

or Create an Account

Close Modal
Close Modal