The regression result with middle- and low-income countries
| Model (7) | Model (8) | Model (9) | |
|---|---|---|---|
| l. lncint | 0.789*** (0.0031) | 0.793*** (0.0024) | 0.768*** (0.0134) |
| lnfdi | −0.002*** (0.0003) | −0.003*** (0.0005) | |
| lnfoss | 0.102*** (0.0122) | ||
| lnind | 0.020*** (0.0047) | ||
| lnurb | −0.178*** (0.0391) | ||
| lntragdp | −0.032*** (0.0023) | ||
| Constant | −0.321*** | −0.315*** | 0.02 |
| −0.0055 | −0.0045 | −0.1139 | |
| Number of observations | 2,725 | 2,316 | 1,346 |
| Number of instruments | 125 | 119 | 73 |
| Sargan p-value | 1.0000 | 1.0000 | 1.0000 |
| AR(1) p-value | 0.0000 | 0.0000 | 0.0000 |
| AR(2) p-value | 0.6113 | 0.8185 | 0.3977 |
| Model (7) | Model (8) | Model (9) | |
|---|---|---|---|
| l. lncint | 0.789 | 0.793 | 0.768 |
| lnfdi | −0.002 | −0.003 | |
| lnfoss | 0.102 | ||
| lnind | 0.020 | ||
| lnurb | −0.178 | ||
| lntragdp | −0.032 | ||
| Constant | −0.321 | −0.315 | 0.02 |
| −0.0055 | −0.0045 | −0.1139 | |
| Number of observations | 2,725 | 2,316 | 1,346 |
| Number of instruments | 125 | 119 | 73 |
| Sargan | 1.0000 | 1.0000 | 1.0000 |
| AR(1) | 0.0000 | 0.0000 | 0.0000 |
| AR(2) | 0.6113 | 0.8185 | 0.3977 |
Notes:
Standard errors are in parentheses; ***indicate that the coefficient is significant at the 1% level, respectively