(investment in Energy)a bias correction to FE model results
| Regressors | Kiviet-bias correction | ||||
|---|---|---|---|---|---|
| AH | AB | BB | DPBC | BBBC | |
| Log invenergy(−1) | 0.02 (0.15) | 0.02 (0.15) | 0.96*** (0.03) | −0.11 (0.11) | −0.13 (0.23) |
| Control of corruption | −3.30*** (1.31) | −3.29*** (1.31) | −0.11 (0.44) | −3.19*** (1.00) | −2.10 (6.75) |
| Government effectiveness | −2.05** (1.00) | −2.05** (1.00) | 0.19 (0.56) | −0.90 (1.00) | −0.65 (2.3) |
| Political stability | −0.004 (0.47) | −0.005 (0 0.47) | −0.09 (0.21) | −0.09 (0.13) | 0.09 (2.11) |
| Regulatory quality | −2.57** (1.23) | −2.57** (1.22) | −0.60 (0.70) | −3.00*** (0.78) | −2.26 (7.67) |
| Rule of law | 2.7** (1.49) | 2.74* (1.48) | 0.23 (0.65) | 3.40*** (1.12) | 2.60 (2.30) |
| voice and accountability | 4.40*** (1.5) | 4.41*** (1.54) | −0.04 (0.20) | 4.23*** (1.02) | 4.23 (6.18) |
| Observation | 65 | 65 | 65 | 65 | 65 |
| AR2 (p-value) | −0.28 (0.17) | ||||
| Sargan (p-value) | 9.15 (0.42) | ||||
| Number of panels | 13 | 13 | 13 | 13 | 13 |
| Regressors | Kiviet-bias correction | ||||
|---|---|---|---|---|---|
| AH | AB | BB | DPBC | BBBC | |
| Log invenergy(−1) | 0.02 (0.15) | 0.02 (0.15) | 0.96*** (0.03) | −0.11 (0.11) | −0.13 (0.23) |
| Control of corruption | −3.30*** (1.31) | −3.29*** (1.31) | −0.11 (0.44) | −3.19*** (1.00) | −2.10 (6.75) |
| Government effectiveness | −2.05** (1.00) | −2.05** (1.00) | 0.19 (0.56) | −0.90 (1.00) | −0.65 (2.3) |
| Political stability | −0.004 (0.47) | −0.005 (0 0.47) | −0.09 (0.21) | −0.09 (0.13) | 0.09 (2.11) |
| Regulatory quality | −2.57** (1.23) | −2.57** (1.22) | −0.60 (0.70) | −3.00*** (0.78) | −2.26 (7.67) |
| Rule of law | 2.7** (1.49) | 2.74* (1.48) | 0.23 (0.65) | 3.40*** (1.12) | 2.60 (2.30) |
| voice and accountability | 4.40*** (1.5) | 4.41*** (1.54) | −0.04 (0.20) | 4.23*** (1.02) | 4.23 (6.18) |
| Observation | 65 | 65 | 65 | 65 | 65 |
| AR2 ( | −0.28 (0.17) | ||||
| Sargan ( | 9.15 (0.42) | ||||
| Number of panels | 13 | 13 | 13 | 13 | 13 |
Note(s): aStandard error in parentheses; FE Fixed Effects; *p < 10%; **p < 5%; ***p < 1%; DPBC Dynamic Panel Bias Correction; BBBC Bootstrap-Based Bias Correction
Source(s): Output of STATA 16
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