Table 7 Robust checking analysis 4:...

Table 7

Robust checking analysis 4: controlling for Russo-Ukrainian war

	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	5.8133**	1.7122
WGI_rq			4.8939**	1.4061
WGI_rl					4.3197***	0.8995
WGI_ps							3.4194†	1.9197
WGI_ge									4.7506***	1.1312
WGI_cc											3.9176***	0.7441
Left	0.3645	1.1614	0.7802	1.1812	0.6232	0.9379	0.0178	1.2339	0.7047	0.9657	0.9004	0.9499
Strength	−0.0630	0.0572	−0.0544	0.0577	−0.0440	0.0477	−0.1350*	0.0549	−0.0533	0.0493	−0.0236	0.0484
Balance	0.5690***	0.1420	0.5486***	0.1427	0.3879**	0.1240	0.5749***	0.1456	0.3810**	0.1254	0.3249**	0.1245
Population	1.3494*	0.5700	1.1126†	0.5865	1.0497*	0.4910	2.2652**	0.6518	1.0697*	0.5142	0.7844	0.4993
Young	0.0596	0.1731	−0.0088	0.1773	−0.0088	0.1465	0.1835	0.1866	−0.0154	0.1526	−0.0693	0.1471
_cons	46.1682***	13.0690	52.6268***	13.2194	52.6455***	11.2515	33.5749*	15.3646	52.4438***	11.7115	58.8602***	11.2844
/sigma_u	2.0876**	0.6561	1.9990**	0.6896	2.1238***	0.5471	2.6097***	0.6941	2.2898***	0.5591	2.1046***	0.5343
/sigma_e	5.1313***	0.3406	5.1440***	0.3444	3.7897***	0.2578	5.1344***	0.3451	3.7909***	0.2582	3.7441***	0.2540
rho	0.1420	0.0824	0.1312	0.0844	0.2390	0.1031	0.2053	0.0948	0.2673	0.1057	0.2401	0.1019

	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	5.8133**	1.7122
WGI_rq			4.8939**	1.4061
WGI_rl					4.3197***	0.8995
WGI_ps							3.4194†	1.9197
WGI_ge									4.7506***	1.1312
WGI_cc											3.9176***	0.7441
Left	0.3645	1.1614	0.7802	1.1812	0.6232	0.9379	0.0178	1.2339	0.7047	0.9657	0.9004	0.9499
Strength	−0.0630	0.0572	−0.0544	0.0577	−0.0440	0.0477	−0.1350*	0.0549	−0.0533	0.0493	−0.0236	0.0484
Balance	0.5690***	0.1420	0.5486***	0.1427	0.3879**	0.1240	0.5749***	0.1456	0.3810**	0.1254	0.3249**	0.1245
Population	1.3494*	0.5700	1.1126†	0.5865	1.0497*	0.4910	2.2652**	0.6518	1.0697*	0.5142	0.7844	0.4993
Young	0.0596	0.1731	−0.0088	0.1773	−0.0088	0.1465	0.1835	0.1866	−0.0154	0.1526	−0.0693	0.1471
_cons	46.1682***	13.0690	52.6268***	13.2194	52.6455***	11.2515	33.5749*	15.3646	52.4438***	11.7115	58.8602***	11.2844
/sigma_u	2.0876**	0.6561	1.9990**	0.6896	2.1238***	0.5471	2.6097***	0.6941	2.2898***	0.5591	2.1046***	0.5343
/sigma_e	5.1313***	0.3406	5.1440***	0.3444	3.7897***	0.2578	5.1344***	0.3451	3.7909***	0.2582	3.7441***	0.2540
rho	0.1420	0.0824	0.1312	0.0844	0.2390	0.1031	0.2053	0.0948	0.2673	0.1057	0.2401	0.1019

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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