The regression result with high-income countries
| Model (4) | Model (5) | Model (6) | |
|---|---|---|---|
| l. lncint | 0.813*** (0.0015) | 0.708*** (0.0063) | 0.602*** (0.0199) |
| lnfdi | −0.026*** (0.0004) | −0.032*** (0.0030) | |
| lnfoss | 0.247*** (0.0363) | ||
| lnind | 0.158*** (0.0237) | ||
| lnurb | 0.213 (0.1413) | ||
| lntragdp | 0.00039 (0.0133) | ||
| Constant | −0.277*** | −0.383*** | −3.033*** |
| −0.0012 | −0.0112 | −0.6524 | |
| Number of observations | 1387 | 1036 | 752 |
| Number of instruments | 63 | 54 | 43 |
| Sargan p-value | 1.0000 | 1.0000 | 1.0000 |
| AR(1) p-value | 0.0162 | 0.012 | 0.0029 |
| AR(2) p-value | 0.5261 | 0.7956 | 0.8000 |
| Model (4) | Model (5) | Model (6) | |
|---|---|---|---|
| l. lncint | 0.813 | 0.708 | 0.602 |
| lnfdi | −0.026 | −0.032 | |
| lnfoss | 0.247 | ||
| lnind | 0.158 | ||
| lnurb | 0.213 (0.1413) | ||
| lntragdp | 0.00039 (0.0133) | ||
| Constant | −0.277 | −0.383 | −3.033 |
| −0.0012 | −0.0112 | −0.6524 | |
| Number of observations | 1387 | 1036 | 752 |
| Number of instruments | 63 | 54 | 43 |
| Sargan | 1.0000 | 1.0000 | 1.0000 |
| AR(1) | 0.0162 | 0.012 | 0.0029 |
| AR(2) | 0.5261 | 0.7956 | 0.8000 |
Notes:
Standard errors are in parentheses; ***indicate that the coefficient is significant at the 1% level, respectively
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