Table 5 Results with Lewbel's estimator...

Table 5

Results with Lewbel's estimator

Variables	(1)	(2)
	eq1	eq2
	Enrolment in primary education, female	Enrolment in secondary education, female
C3	−0.1453** (0.0499)*	−0.1364** (0.0501)*
Electricity	0.0775*	0.0311**
Electricity	(0.0498)	(0.0513)
Urbanization	1.133	−0.346
Urbanization	(0.631)	(0.561)
FDI	0.0331***	0.0311***
FDI	(0.00880)	(0.0110)
Inflation	−0.0489***	−0.0575**
Inflation	(0.0150)	(0.0225)
Corruption	−0.0267	−0.0582
Corruption	(0.0195)	(0.0296)
Constant	79.019***	76.304***
Constant	(10.74)	(8.405)
Observations	1,150	1,150
R-squared	0.182	0.182
Number of countries	77	77
Hansen J test	0.18	0.18
Underidentification test	111.78	111.78
Underidentification (p-value)	0.00	0.00
Weak identification test	37.54	37.54

Variables	(1)	(2)
	eq1	eq2
	Enrolment in primary education, female	Enrolment in secondary education, female
C3	−0.1453*** (0.0499)	−0.1364*** (0.0501)
Electricity	0.0775*	0.0311**
Electricity	(0.0498)	(0.0513)
Urbanization	1.133	−0.346
Urbanization	(0.631)	(0.561)
FDI	0.0331***	0.0311***
FDI	(0.00880)	(0.0110)
Inflation	−0.0489***	−0.0575**
Inflation	(0.0150)	(0.0225)
Corruption	−0.0267	−0.0582
Corruption	(0.0195)	(0.0296)
Constant	79.019***	76.304***
Constant	(10.74)	(8.405)
Observations	1,150	1,150
R-squared	0.182	0.182
Number of countries	77	77
Hansen J test	0.18	0.18
Underidentification test	111.78	111.78
Underidentification (p-value)	0.00	0.00
Weak identification test	37.54	37.54

Note(s): Standard errors in parentheses ***p < 0.01, **p < 0.05, *p < 0.1. C3: The total assets held by the three largest banks in countries. FDI: foreign direct Investments. The Kleibergen- Paap rk LM and Cragg-Donald Wald F statistics are reported as the model is exactly identified

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