Robustness test
| Variables | (1) 2sls | (2) Replace the core explanatory variables | (3) FGLS |
|---|---|---|---|
| lnzz | lnzz | lnzz | |
| lndst | 0.0886*** (0.0276) | 0.0491*** (0.0094) | |
| lndst1 | 0.1211*** (0.0125) | ||
| lnser | 0.7482*** (0.1426) | 0.7840*** (0.1268) | 0.8311*** (0.1067) |
| lngov | −0.4585*** (0.0431) | −0.3761*** (0.0380) | −0.4956*** (0.0293) |
| lnopen | −0.0464*** (0.0150) | −0.0364*** (0.0124) | −0.0271*** (0.0078) |
| lninf | −0.1679*** (0.0632) | −0.1293** (0.0594) | −0.0883** (0.0390) |
| lnhum | 0.0036* (0.0021) | 0.0047** (0.0019) | −0.0001 (0.0014) |
| _cons | – | −1.2537*** (0.2292) | −0.4506*** (0.1212) |
| R-sq | 0.322 | 0.488 | |
| N | 400 | 440 | 440 |
| LM | 96.149 (0.000) | – | – |
| Wald-F | 129.000 (16.38) | – | – |
| Variables | (1) 2sls | (2) Replace the core explanatory variables | (3) FGLS |
|---|---|---|---|
| lnzz | lnzz | lnzz | |
| lndst | 0.0886*** (0.0276) | 0.0491*** (0.0094) | |
| lndst1 | 0.1211*** (0.0125) | ||
| lnser | 0.7482*** (0.1426) | 0.7840*** (0.1268) | 0.8311*** (0.1067) |
| lngov | −0.4585*** (0.0431) | −0.3761*** (0.0380) | −0.4956*** (0.0293) |
| lnopen | −0.0464*** (0.0150) | −0.0364*** (0.0124) | −0.0271*** (0.0078) |
| lninf | −0.1679*** (0.0632) | −0.1293** (0.0594) | −0.0883** (0.0390) |
| lnhum | 0.0036* (0.0021) | 0.0047** (0.0019) | −0.0001 (0.0014) |
| _cons | – | −1.2537*** (0.2292) | −0.4506*** (0.1212) |
| 0.322 | 0.488 | ||
| 400 | 440 | 440 | |
| LM | 96.149 (0.000) | – | – |
| Wald-F | 129.000 (16.38) | – | – |
Source(s): Table provided by the author
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