Parameter estimates of the ARIMA models
| Variable | Lags | Institutional dummy | Lagged institutional dummy | |||
|---|---|---|---|---|---|---|
| HFDI | (2,1) | −0.529*** (0.080) | −0.319*** (0.083) | −0.887*** (0.018) | 0.002*** (0.0006) | 0.001** (0.0007) |
| Aesthetics pillar | (1,1) | −0.414*** (0.075) | −0.899*** (0.017) | −3.9e-06 (5.7e-06) | ||
| sexuality pillar | (1,1) | −0.604*** (0.066) | −0.708*** (0.012) | 2.2e-05*** (6.5e-06) |
| Variable | Lags | Institutional dummy | Lagged institutional dummy | |||
|---|---|---|---|---|---|---|
| HFDI | (2,1) | −0.529*** (0.080) | −0.319*** (0.083) | −0.887*** (0.018) | 0.002*** (0.0006) | 0.001** (0.0007) |
| Aesthetics pillar | (1,1) | −0.414*** (0.075) | −0.899*** (0.017) | −3.9e-06 (5.7e-06) | ||
| sexuality pillar | (1,1) | −0.604*** (0.066) | −0.708*** (0.012) | 2.2e-05*** (6.5e-06) |
Note(s): *** and **; significant at 1%, 5% and 10%, respectively; () : standard errors
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