Table 5 Robust checking analysis 2:...

Table 5

Robust checking analysis 2: controlling for endogeneity

	Eq. 1		Eq. 2		Eq. 3		Eq. 4		Eq. 5		Eq. 6
	Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.
WGI_va	4.7709**	1.3027
WGI_rq			5.0368**	1.7837
WGI_rl					4.3655**	1.3091
WGI_ps							2.8672	2.4219
WGI_ge									5.2572***	1.1422
WGI_cc											3.6376***	0.5808
Left	1.2081	1.1210	−0.1698	1.0938	−0.0993	1.2392	−0.4574	1.2094	−0.8619	1.3111	−1.2308	1.3808
Strength	−0.0742	0.0609	0.0294	0.0450	−0.0223	0.0504	0.0338	0.0423	0.0560	0.0465	0.0732	0.0449
Balance	0.9813***	0.1548	0.8520***	0.1582	0.9143***	0.1296	0.9986***	0.1577	0.8100***	0.1402	0.6931***	0.1510
Population	0.4252	0.7861	1.5488*	0.7828	0.9224	0.9277	0.8446	0.7874	1.5315*	0.7321	1.6989*	0.6913
Young	0.1603	0.3614	−0.2577	0.3377	−0.4135	0.2545	−0.1498	0.3051	−0.4896	0.3430	−0.6055	0.3720
_cons	44.9690	27.8791	77.8731**	27.6099	88.2176**	27.3737	80.8107***	17.1475	96.8808**	31.9252	108.5365**	34.1310
Arellano-Bond test for AR(2) in first differences	Pr > z = 0.846		Pr > z = 0.539		Pr > z = 0.824		Pr > z = 0.999		Pr > z = 0.944		Pr > z = 0.827
Hansen test of overid. restrictions	Pr > χ² = 0.346		Pr > χ² = 0.404		Pr > χ² = 0.338		Pr > χ² = 0.362		Pr > χ² = 0.383		Pr > χ² = 0.395

	Eq. 1		Eq. 2		Eq. 3		Eq. 4		Eq. 5		Eq. 6
	Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.
WGI_va	4.7709**	1.3027
WGI_rq			5.0368**	1.7837
WGI_rl					4.3655**	1.3091
WGI_ps							2.8672	2.4219
WGI_ge									5.2572***	1.1422
WGI_cc											3.6376***	0.5808
Left	1.2081	1.1210	−0.1698	1.0938	−0.0993	1.2392	−0.4574	1.2094	−0.8619	1.3111	−1.2308	1.3808
Strength	−0.0742	0.0609	0.0294	0.0450	−0.0223	0.0504	0.0338	0.0423	0.0560	0.0465	0.0732	0.0449
Balance	0.9813***	0.1548	0.8520***	0.1582	0.9143***	0.1296	0.9986***	0.1577	0.8100***	0.1402	0.6931***	0.1510
Population	0.4252	0.7861	1.5488*	0.7828	0.9224	0.9277	0.8446	0.7874	1.5315*	0.7321	1.6989*	0.6913
Young	0.1603	0.3614	−0.2577	0.3377	−0.4135	0.2545	−0.1498	0.3051	−0.4896	0.3430	−0.6055	0.3720
_cons	44.9690	27.8791	77.8731**	27.6099	88.2176**	27.3737	80.8107***	17.1475	96.8808**	31.9252	108.5365**	34.1310
Arellano-Bond test for AR(2) in first differences	Pr > z = 0.846		Pr > z = 0.539		Pr > z = 0.824		Pr > z = 0.999		Pr > z = 0.944		Pr > z = 0.827
Hansen test of overid. restrictions	Pr > χ² = 0.346		Pr > χ² = 0.404		Pr > χ² = 0.338		Pr > χ² = 0.362		Pr > χ² = 0.383		Pr > χ² = 0.395

Note(s): (1) †, *, **, and *** represent statistical relevance at 90, 95, 99, and 99.9%, respectively; (2) Results are controlled by year dummy variables

Source(s): Table created by authors

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