Estimation results: dynamic panel data model (China excluded from analysis)
| (1) | |
|---|---|
| Log_PPV (L1) | 0.571*** (0.184) |
| Log_IPV | −0.085 (0.062) |
| BRD | −0.087*** (0.022) |
| FIT | −0.370** (0.181) |
| CIC | −0.0018*** (0.0006) |
| Log_TD | −0.179** (0.091) |
| REC | −0.074** (0.032) |
| Log_OP | 0.188 (0.139) |
| Observations | 69 |
| Number of groups | 14 |
| Number of instruments | 14 |
| A-B test for second-order serial correlation in first differencesa | 0.6922 |
| Wald testb | 0.0000 |
| Sargan test for over-identifying restrictions | __ |
| (1) | |
|---|---|
| Log_PPV (L1) | 0.571*** (0.184) |
| Log_IPV | −0.085 (0.062) |
| BRD | −0.087*** (0.022) |
| FIT | −0.370** (0.181) |
| CIC | −0.0018*** (0.0006) |
| Log_TD | −0.179** (0.091) |
| REC | −0.074** (0.032) |
| Log_OP | 0.188 (0.139) |
| Observations | 69 |
| Number of groups | 14 |
| Number of instruments | 14 |
| A-B test for second-order serial correlation in first differencesa | 0.6922 |
| Wald testb | 0.0000 |
| Sargan test for over-identifying restrictions | __ |
Note(s): *** Significant at the 1% level ** Significant at the 5% level * Significant at the 10% level
Robust standard errors are in parentheses
aFirst-differenced errors autocorrelation test (p-value). No serial correlation under the null hypothesis
bWald test of overall significance (p-value). All coefficients are equal to zero under the null hypothesis
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