Table 3

Benchmark regression results

Variables(1)(2)(3)
lnzzlnzzlnzz
lndst0.0789*** (0.0171)0.0519*** (0.0148)0.0273* (0.0148)
lnser 1.0058*** (0.1362)0.7173*** (0.1414)
lngov −0.4515*** (0.0407)−0.3989*** (0.0394)
lnopen −0.0303** (0.0138)−0.0282** (0.0135)
lninf −0.1509** (0.0652)−0.1116* (0.0630)
lnhum 0.0038* (0.0021)0.0035* (0.0019)
_cons−1.6286*** (0.0191)0.3613** (0.1716)−0.0550 (0.1770)
R-sq0.0510.3850.474
N440440440
countrycontrolcontrolcontrol
yearNot controlledNot controlledcontrol

Note(s): The numbers in brackets are the standard error values; ***, ** and * represent the significance levels of 1, 5 and 10%, respectively, the same below

Source(s): Table provided by the author

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