Table V.

Regression results

VariablesEstimators
FE (within)FE (AR option)LSDVPooled average
Democracy0.76028*** (0.06312)0.73791*** (0.05056)0.76028*** (0.06473)0.74762*** (0.06128)
Size3.03338*** (0.84711)1.94745*** (0.39106)3.03338*** (0.86868)3.28630*** (0.79296)
Pol-ideo−0.78006** (0.36898)−0.21968 (0.24644)−0.78006** (0.37838)−0.72599 (0.36034)
Cons17.48391 (1.31839)18.68468 (0.25577)17.48391 (1.35197)17.18187 (1.42276)
R-square0.57200.53230.8831−
Model (p-value)0.00000.00000.00000.0000
F stat115.24117.20109.59−
Wald Chi2−−−53.57

Notes:

Significance are denoted as follows: 1% ***; 5% ** and 10% *. Standard errors are shown in brackets below the respective coefficients

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