Table 6. Mixed-effects ML regression...

Table 6.

Mixed-effects ML regression state-led cluster dummy

Geo_dist_weighted	Coefficient	Standard error	t-value	p-value	95% Conf	Interval	Significance
state_led	1,107.31	643.15	1.72	0.09	−153.24	2,367.87	*
z_GDP_host	2,034.87	144.71	14.06	0.00	1,751.25	2,318.50	***
z_GDPgrowth_host	−272.31	52.81	−5.16	0.00	−375.82	−168.79	***
z_fuel_exports_host	59.92	50.54	1.19	0.24	−39.13	158.98
z_ore_metal_export∼t	333.34	46.90	7.11	0.00	241.43	425.25	***
z_patents_host	−903.74	136.29	−6.63	0.00	−1,170.86	−636.62	***
z_host_productivity	993.47	75.22	13.21	0.00	846.04	1,140.90	***
z_ling_dist	−220.55	67.55	−3.27	0.00	−352.94	−88.15	***
z_colony	35.17	57.38	0.61	0.54	−77.29	147.64
z_polity2	−163.08	178.62	−0.91	0.36	−513.18	187.01
z_financialstructure	−84.56	93.57	−0.90	0.37	−267.94	98.82
z_home_productivity	−702.37	176.47	−3.98	0.00	−1048.24	−356.49	***
z_RLE_home	455.82	178.15	2.56	0.01	106.66	804.98	**
Constant	4,800.28	464.21	10.34	0.00	3,890.44	5,710.12	***
Random-effects parameters
Source country	1,548,550.80		570,447.46	ICC: 0.15 (SE: 0.05)	752,253.23	3,187,769.10
Firm	3,322,861.80		231,652.77	ICC: 0.48 (SE: 0.03)	2,898,484.00	3,809,374.40
Residual	5,201,345.00		182,881.2		4,854,976.20	5,572,424.90
Mean dependent var		6,151.33		SD dependent var		4,331.10
Number of observations	4,088		Chi-square		1,691.16
Prob > chi²		0.00		Akaike crit. (AIC)		76,576.10

Geo_dist_weighted	Coefficient	Standard error	t-value	p-value	95% Conf	Interval	Significance
state_led	1,107.31	643.15	1.72	0.09	−153.24	2,367.87	*
z_GDP_host	2,034.87	144.71	14.06	0.00	1,751.25	2,318.50	***
z_GDPgrowth_host	−272.31	52.81	−5.16	0.00	−375.82	−168.79	***
z_fuel_exports_host	59.92	50.54	1.19	0.24	−39.13	158.98
z_ore_metal_export∼t	333.34	46.90	7.11	0.00	241.43	425.25	***
z_patents_host	−903.74	136.29	−6.63	0.00	−1,170.86	−636.62	***
z_host_productivity	993.47	75.22	13.21	0.00	846.04	1,140.90	***
z_ling_dist	−220.55	67.55	−3.27	0.00	−352.94	−88.15	***
z_colony	35.17	57.38	0.61	0.54	−77.29	147.64
z_polity2	−163.08	178.62	−0.91	0.36	−513.18	187.01
z_financialstructure	−84.56	93.57	−0.90	0.37	−267.94	98.82
z_home_productivity	−702.37	176.47	−3.98	0.00	−1048.24	−356.49	***
z_RLE_home	455.82	178.15	2.56	0.01	106.66	804.98	**
Constant	4,800.28	464.21	10.34	0.00	3,890.44	5,710.12	***
Random-effects parameters
Source country	1,548,550.80		570,447.46	ICC: 0.15 (SE: 0.05)	752,253.23	3,187,769.10
Firm	3,322,861.80		231,652.77	ICC: 0.48 (SE: 0.03)	2,898,484.00	3,809,374.40
Residual	5,201,345.00		182,881.2		4,854,976.20	5,572,424.90
Mean dependent var		6,151.33		SD dependent var		4,331.10
Number of observations	4,088		Chi-square		1,691.16
Prob > chi²		0.00		Akaike crit. (AIC)		76,576.10

Note(s):

***p < 0.01, **p < 0.05 and *p < 0.10

Source(s): Authors’ own work

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